NAB Freezes 4 Major Bahria Town Properties, Including Bahria Icon Tower

The National Accountability Bureau Karachi has frozen four more high-value properties linked to Bahria Town on the instructions of an accountability court.

According to Dawn, the action was taken under the Anti Money Laundering Act, 2010 following investigations which established that the assets were allegedly purchased through laundering of crime proceeds.

Among the attached properties is the Bahria Icon Tower in Clifton, Karachi, where investigators alleged that around Rs. 8 billion in crime proceeds had been laundered for the project’s construction.

The report said the property was being held through a front company, M/s Galaxy Construction Pvt Ltd. NAB also attached the Bahria Town Tower located on Tariq Road in Karachi after investigators concluded that the project was allegedly held in the name of Muhammad Awais, described as a “benami” frontman for Malik Riaz Hussain and Bahria Town.

The operation also expanded beyond Karachi. According to officials, NAB attached 817 kanals of land in Sheikhupura and another 2,029 kanals in Peshawar intended for Bahria Town Peshawar, allegedly owned through M/s Lifestyle Development (SMC) Pvt Ltd.

Investigators identified the companies as alleged front entities used to facilitate the laundering of illicit funds.

The latest action comes amid ongoing legal and accountability proceedings involving Bahria Town founder Malik Riaz Hussain and multiple real estate-related investigations.

In recent years, Bahria Town has remained under scrutiny in connection with land acquisition disputes, alleged financial irregularities, and money laundering investigations involving billions of rupees.

NAB officials said the latest move reflects continued efforts to identify, freeze, and legally pursue assets allegedly acquired through financial crimes and benami arrangements. Legal proceedings regarding the attached properties are currently underway in accordance with the law.