The National Accountability Bureau (NAB) took a decisive step on Thursday in its ongoing efforts to recover public money, auctioning six commercial properties linked to Bahria Town for a total of Rs 2.26 billion.
The properties were seized as part of enforcement measures following a 2019 plea bargain approved by the Islamabad High Court (IHC), involving real estate tycoon Malik Riaz’s family.
The auction — held at NAB’s Rawalpindi office and its premises in Islamabad’s Sector G-6/1 — got the attention of prominent investors, business groups and property developers from across the region. The atmosphere was competitive, with bidders eager to secure prime commercial spaces in Islamabad and Rawalpindi’s high-demand zones.
Key Auction Results
One of the highlights was Rubaish Marquee, a sought-after event venue in Islamabad. It fetched Rs 508 million, exceeding its reserved price by Rs 20 million — a sign of strong market interest despite a challenging economic climate.
Two corporate offices in Rawalpindi also drew substantial offers. Corporate Office-I received conditional bids worth Rs 876 million, while Corporate Office-II mesmerizing offers of Rs 881.5 million. NAB officials confirmed that final approval for these sales will come from the bureau’s Competent Authority.
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Unsold Properties and Next Steps
Not all properties found takers. Three commercial assets failed to attract qualifying bids — a reminder that while prime locations can command premium offers, market liquidity remains selective. NAB has announced that these unsold properties will be re-auctioned soon, with fresh marketing efforts to draw more bidders.
For NAB, this auction is more than a revenue recovery exercise — it is considered to be the integral component of a wider message about accountability and asset recovery. The bureau has been under public pressure to ensure that plea bargains and settlements translate into tangible returns for the state.
Observers note that the successful sale of high-value assets like these not only replenishes the national exchequer but also sends a signal to the business community about the consequences of financial wrongdoing.
With more properties lined up for auction in the coming weeks, NAB’s recovery drive appears set to continue, keeping both investors and the public watching closely.