ISLAMABAD: The National Accountability Bureau (NAB), Karachi, has frozen four more high-value properties of Bahria Town on the instructions of an accountability court.
Sources in the NAB said the action was carried out under the Anti-Money Laundering Act, 2010, following investigations that established that these assets were purchased through the laundering of crime proceeds.
The bureau has attached the Bahria Icon Tower in Clifton, Karachi, where investigations revealed that Rs8 billion in crime proceeds had been laundered for its construction. The property was being held under a front company, M/s Galaxy Construction Pvt Ltd.
Similarly, the Bahria Town Tower on Tariq Road, Karachi, was attached after it was established that the project was held in the name of Muhammad Awais, a “benami” frontman for Malik Riaz Hussain and M/s Bahria Town.
Beyond Karachi, the operation extended to significant land holdings. The bureau has attached 817 kanals of prime land in Sheikhupura and 2,029 kanals of land in Peshawar intended for Bahria Town Peshawar, owned by M/s Lifestyle Development (SMC) Pvt Ltd. Both entities have been identified as front companies used to facilitate the laundering of illicit funds.
NAB’s action underscores its commitment to identifying and freezing assets acquired through financial malpractice.
By dismantling the use of front companies and “benami” owners, the bureau, according to the sources, continues to ensure that proceeds of crime are brought under legal accountability.
Legal proceedings regarding these properties are currently being processed in accordance with the law.
Published in Dawn, May 8th, 2026
