The National Accountability Bureau (NAB) has issued a 15-day freezing order on over 450 immovable properties nationwide, including assets owned by Malik Riaz’s son, Ahmed Ali Riaz, and his firm Bahria Town Pvt Ltd, as part of an ongoing investigation into the alleged illegal transfer of government land in Karachi’s Malir district.
The order, dated June 19 and seen by Dawn.com, is tied to NAB’s broader probe in the £190 million Al Qadir Trust case and expands the agency’s crackdown on high-profile individuals connected to controversial real estate dealings. Malik Riaz, who remains an absconder in the Al Qadir Trust case, is among the accused.
The NAB directive was issued under Section 12 of the National Accountability Ordinance (NAO), 1999, which empowers the bureau to freeze properties suspected to be linked with corruption, in conjunction with Section 34A which deals with delegation of powers. The order cites a finding that “accused persons in active connivance with each other have usurped government land admeasuring 16,896 acres situated in District Malir, Karachi.”
Among the properties frozen are:
-
Five assets of Bahria Town in DHA Rawalpindi
-
Two properties owned by Ahmed Ali Riaz in Islamabad
-
Eighteen Bahria Town properties in Islamabad
-
Two properties owned by Zain Malik, Riaz’s son-in-law
This brings the tally to 25 high-value properties listed explicitly, while the total number frozen under the order reaches 457, including holdings of other unnamed individuals and entities.
Although the order is effective for 15 days, NAB notes that under legal precedent — specifically 2019 SCMR 1106 — the freezing will remain valid until the accountability court delivers its judgment.
This development follows an earlier decision this month by an accountability court to issue non-bailable arrest warrants for Malik Riaz, his son Ahmed Ali Riaz, and several others, in connection with the Bahria Town Karachi (BTK) land case.
The case concerns allegations that senior PPP leaders, Bahria Town executives, and government officials colluded to convert and illegally transfer state-owned land to the real estate developer in violation of Section 9A of the NAO, which defines corruption and corrupt practices.
NAB had formally filed a reference in the BTK matter months ago, signaling what appears to be an intensifying focus on elite land deals and politically connected developers. The agency’s ongoing investigations now span multiple cities and include high-value urban real estate linked to some of Pakistan’s most powerful business and political figures.
