The National Accountability Bureau (NAB) has frozen a luxury property along with extensive land assets associated with Bahria Town Karachi as part of several ongoing investigations, the anti-corruption agency announced on Tuesday.
Specifically, NAB Karachi has seized a 67-acre estate known as “Ali Villa,” located in Bahria Hills and reportedly built as a private residence. This property is linked to the family of property magnate Malik Riaz. The residence features high-end amenities including a helipad, a mini-zoo, and swimming pools.
In addition to this, NAB has frozen 1,338 acres of land under two fresh inquiries. Meanwhile, the entire 3,150-acre Bahria Town-2 project has also been restrained. The bureau alleges that these lands were obtained through fraudulent means and involve encroachment on state-owned territories, including land originally designated for Bahria Greens and other precincts owned by the Government of Sindh. Notably, Bahria Town-2 is said to have been developed on land belonging to the forest department.
The anti-graft agency has prohibited any transfer or sale of these assets to third parties, following an order issued by the NAB Karachi Director General. NAB has already submitted a reference to an accountability court concerning the illegal conversion and embezzlement of 17,672 acres of state land in Malir, with an estimated value of approximately Rs708 billion. This case is currently under investigation.
Earlier, NAB had frozen four high-value properties tied to Bahria Town Private Limited in Karachi, pursuant to court directives, as part of an expanding anti-money laundering investigation targeting suspected criminal proceeds. The action was carried out under the Anti-Money Laundering Act, 2010, in compliance with a court order.
Investigations have revealed that the seized properties were acquired using funds allegedly laundered through criminal activities. Among the major assets frozen is the Bahria Icon Tower in Karachi’s Clifton area, one of the tallest commercial developments in the city. Preliminary findings indicate that approximately Rs8 billion in suspected laundered money was utilized in its construction. This property was registered under a front company named M/s Galaxy Construction Pvt Ltd.
