Islamabad – In a significant development in Pakistan’s high-profile property case, the National Accountability Bureau (NAB) successfully auctioned Bahria Town’s Rubaish Marquee and Lawn in Islamabad for Rs 508 million. The marquee, a premium event venue associated with the real estate giant, fetched Rs 20 million above its reserve price, marking a crucial step in NAB’s ongoing asset recovery efforts against Bahria Town and its founder, Malik Riaz.
Background of the Auction
The auction of Rubaish Marquee was part of NAB’s broader move to sell off Bahria Town’s commercial assets under a court-approved settlement linked to a £190 million case. The case dates back to 2019, when Malik Riaz agreed to a massive settlement with the UK’s National Crime Agency (NCA). According to NAB, the proceeds from the sale will go toward fulfilling the terms of that agreement and recovering outstanding amounts owed to the national exchequer. The Rubaish Marquee was one of six properties put up for auction in Islamabad and Rawalpindi on August 7, 2025. The properties included high-end commercial spaces, educational institutions, entertainment venues, and other assets associated with Bahria Town.
Details of the Sale
The Rubaish Marquee was considered one of the more sought-after properties in the auction list due to its prime location, established reputation as a premium event venue, and high potential for commercial returns. NAB had set a reserve price of Rs 488 million, but competitive bidding pushed the final amount to Rs 508 million.
The successful bidder, whose name has not been publicly disclosed yet, is now in the process of completing the payment. Once approved by NAB’s competent authority, the sale will be finalized, and ownership will be transferred.
Other Properties in the Auction
Alongside Rubaish Marquee, NAB also received conditional bids for two high-value corporate offices in Rawalpindi. These bids stood at Rs 876 million and Rs 881.5 million respectively. However, these offers are subject to further review and approval before the transactions can be completed.
Three other Bahria Town properties Arena Cinema, Bahria Town International Academy, and Safari Club failed to attract qualifying bids. NAB has announced plans to re-auction these properties in the near future to ensure maximum recovery.
Legal Challenges and Court Proceedings
The auction process did not proceed without controversy. Bahria Town, through its legal team, attempted to halt the sale by seeking stay orders from both the Islamabad High Court (IHC) and the Supreme Court of Pakistan. The company argued that the auction could negatively impact ongoing legal disputes and property valuations. However, both courts dismissed the pleas. The Supreme Court in particular stated that such a stay could not be granted without hearing all concerned parties. The apex court scheduled the next hearing for August 13, 2025, which could determine the next phase of NAB’s recovery process.
Reaction from Malik Riaz and Bahria Town
Bahria Town’s founder, Malik Riaz, has been vocal about what he describes as “unfair targeting” of his company’s assets. In a series of posts on social media platform X (formerly Twitter), he expressed concern over the economic fallout of the auctions, warning that thousands of employees and business partners could be affected. Despite these warnings, NAB maintains that the auctions are in line with court orders and are necessary to recover public funds. Officials also emphasized that due process is being followed in every stage of the sale.
Economic and Real Estate Impact
The auction of Rubaish Marquee has sparked debate within Pakistan’s real estate and business communities. Industry analysts note that the sale reflects both the growing pressure on high-profile developers and a shift toward accountability in the property sector. From an investor’s perspective, the auction price above the reserve signals strong interest in premium commercial properties despite the legal cloud surrounding Bahria Town. However, some experts caution that such forced sales can have a short-term chilling effect on investor confidence, particularly in projects linked to major developers facing legal disputes.
Public and Media Reaction
The high-profile nature of the Rubaish Marquee auction has kept it in the headlines for days. News channels have aired detailed reports on the bidding process, and public opinion appears divided. While many see the sale as a positive step toward accountability, others worry about the potential loss of jobs and the future of Bahria Town’s massive residential and commercial projects.
What Happens Next?
With the Rubaish Marquee auction successfully concluded, attention now turns to the pending sales of the other properties. NAB is expected to conduct another round of auctions for the unsold assets, possibly with revised reserve prices to attract more bidders.
The upcoming Supreme Court hearing on August 13 will also be crucial. If the court issues directions that impact the auction process or the underlying settlement, it could change the course of NAB’s recovery strategy.
Conclusion
The sale of Bahria Town’s Rubaish Marquee for Rs 508 million marks an important moment in Pakistan’s ongoing battle for financial accountability and asset recovery. While it demonstrates NAB’s ability to secure competitive bids in high-value property sales, it also underscores the legal, economic, and political complexities surrounding such cases.
Whether this auction becomes a turning point in the Bahria Town saga or simply another chapter in a long legal battle will depend on the next steps from the courts, NAB, and the property market itself. For now, the Rubaish Marquee stands as a symbol of both the opportunities and the controversies that define Pakistan’s real estate sector today.
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