ISLAMABAD: The National Accountability Bureau (NAB) has commenced the auction process for several prominent properties owned by real estate magnate Malik Riaz.
As per a NAB press statement, the Bahria Town Corporate Office II located at Plot No. 7-D, Park Road, Phase II, Rawalpindi, was sold for approximately Rs. 880.6 million. Additionally, the Rubaish Marquee & Lawn, situated near Bahria Garden City Golf Course in Islamabad, was auctioned for around Rs. 508.3 million.
These two sales alone have already raised over Rs. 1.3 billion, with expectations that the total amount will increase as more properties go under the hammer. The bidding process is currently ongoing, and it is anticipated that all the listed properties will be sold by the end of today. Earlier this week, the Islamabad High Court (IHC) granted NAB the authority to proceed with the auction of Bahria Town assets.
