LAHORE: National Accountability Bureau (NAB) announced that, over 200 kanal of land belonging to the Official Employees Cooperative Housing Society Ltd was illicitly transferred to Malik Riaz’s Bahria Town Lahore.
NAB has initiated an inquiry involving officials from the housing society, the revenue department, and Bahria Town Lahore regarding this unauthorized transfer. According to NAB’s investigation, a land parcel measuring 204 kanals and 3 marlas, situated in Mauza Manak and Mauza Bhai Kot, Tehsil Raiwind, Lahore, was unlawfully appropriated. The land, valued in the billions of rupees, has since been restored to its rightful owner following a timely complaint by Assistant Registrar (Housing-V) Jahanzeb Akbar.
NAB lauded Akbar’s vigilance, noting that his actions led to the restoration of the property. However, the bureau did not specify under which government—whether during PTI, the caretaker setup led by Mohsin Naqvi, or PML-N—the transfer took place.
The inquiry continues to probe how officials from the housing society and the revenue department colluded with Bahria Town to execute the illegal transfer. The scrutiny of Malik Riaz’s property ventures has intensified since the PML-N assumed power, with NAB previously declaring him an absconder in the Al-Qadir Trust case, which also implicates former Prime Minister Imran Khan.
Currently residing in the United Arab Emirates (UAE), Malik Riaz is sought by NAB, which has initiated extradition processes through Interpol. The bureau is also pursuing his assets, claiming that Riaz illegally occupied both public and private lands for his Bahria Town projects.
In light of ongoing investigations, NAB has advised the public against investing in Bahria Town, warning that such actions could be interpreted as money laundering, exposing investors to potential legal repercussions.
Furthermore, Riaz is planning to launch ‘Bahria Town Dubai’, a luxury housing initiative. However, NAB has urged potential investors to refrain from participating in this project, reinforcing their stance against perceived financial misconduct.
NAB Cautions Public on Investment in Bahria Town Dubai Project
In a cautionary statement, NAB emphasized, “The general public is hereby advised to refrain from investing in the stated project (Bahria Town Dubai). Any investments made could be construed as money laundering, which may result in criminal or legal action against the individuals involved.”
As NAB continues its inquiries into the circumstances surrounding the land transfer and Riaz’s broader business practices, developments in this case are likely to evolve in the coming weeks.
