NAB starts auctioning of Bahria Town’s properties

The National Accountability Bureau (NAB) has started the auction of multiple high-profile properties belonging to real estate tycoon Malik Riaz. 

According to NAB press release, Bahria Town Corporate Office II, Plot No. 7-D, Park Road, Phase II, Rawalpindi has been auctioned for Rs. 880.6 million. Moreover, Rubaish Marquee & Lawn, near Bahria Garden City Golf Course, Islamabad has been auctioned for Rs. 508.3 million. 

The sale of the above two properties have already generated over Rs. 1.3 billion with the figure expected to rise as more properties are auctioned. The auction is currently underway and it is expected that by the end of the day all properties listed for auction would be sold off. 

Earlier in the week, the Islamabad High Court (IHC) allowed NAB to auction Bahria Town properties.