ISLAMABAD: In a significant legal development, the Islamabad High Court (IHC) on Tuesday rejected all petitions filed against the planned auction of properties linked to real estate tycoon Malik Riaz, paving the way for the National Accountability Bureau (NAB) to proceed with the high-profile sale.
The court’s decision follows weeks of legal wrangling, during which a stay order had temporarily halted the auction process. However, a division bench headed by Chief Justice Sarfraz Dogar issued a short order allowing NAB to go ahead with the auction of six Bahria Town properties in Rawalpindi and Islamabad on August 7, 2025.
Earlier this year, NAB had issued a public notice announcing the auction of the properties after Malik Riaz and his son, Ali Riaz, failed to pay the full amount agreed upon in a plea bargain connected to the £190 million Al-Qadir Trust case. The failure to fulfill the terms of the settlement prompted NAB to seize the assets and seek court approval to initiate the sale.
The properties set for auction include some of Bahria Town’s most prominent commercial and recreational landmarks. Among them are:
- Bahria Town Corporate Office II, Plot No. 7-D, Park Road, Phase II, Rawalpindi
- Bahria Town Corporate Office, Plot No. 7-E, Park Road, Phase II, Rawalpindi
- Rubeish Marquee and Lawn, near Garden City Golf Course, Islamabad
- Arena Cinema, Plot No. 984-Broad-A, Phase IV, Rawalpindi
- Bahria Town International Academy, near Jasmine Street and Silver Oaks Road, Safari Villas I, Rawalpindi
- Safari Club, Plot No. 27, Safari Villas, Bahria Town, Rawalpindi
With the IHC’s ruling, NAB is now fully authorized to carry out the auction on the announced date. The decision is expected to intensify pressure on Malik Riaz and reignite scrutiny over the long-running Al-Qadir Trust investigation.
