KARACHI – Bahria Town founder and prominent real estate tycoon Malik Riaz Hussain stated on Tuesday that his company is facing a near-complete shutdown, citing an intensifying government crackdown allegedly linked to his ties with imprisoned former Prime Minister Imran Khan.
Riaz, considered one of Pakistan’s most influential businessmen, revealed via social media that Bahria Town’s operations have been severely disrupted. According to his statement, authorities have frozen the company’s bank accounts, impounded vehicles, and detained dozens of employees, effectively halting development activities nationwide.
“The situation has reached a point where we are being forced to completely shut down all Bahria Town activities across Pakistan,” Riaz posted. “We apologize to the residents and stakeholders of Bahria Town.”
Though Riaz has not explicitly named those behind the pressure campaign, analysts widely connect the situation to the high-profile Al-Qadir Trust case. In this case, it is alleged that Malik Riaz offered land to Imran Khan and his wife during his term in office (2018–2022) in return for undue favors. In January, Khan was sentenced to 14 years in prison over the matter.
That same month, Pakistan’s National Accountability Bureau (NAB) announced it had initiated the process to extradite Riaz from the United Arab Emirates. The agency also issued a public notice warning investors against participating in a new real estate project linked to Riaz in Dubai, claiming such investments could amount to money laundering and expose investors to legal risks.
In response, Riaz accused NAB officials of fabricating cases and attempting to blackmail him, saying he had no choice but to leave the country due to political victimization. Reports now suggest that Riaz may have left the UAE and moved to an undisclosed location to avoid potential extradition.
In his latest message, the businessman made a final appeal to state institutions, urging them to pursue a path of reconciliation:
“I make a final appeal from the bottom of my heart for a chance to return to serious dialogue and a dignified resolution. We are ready to fully participate in any arbitration process and are committed to honoring its outcome, including any financial obligations.”
Background on Al-Qadir Trust Case
In 2019, the UK’s National Crime Agency (NCA) confirmed a civil settlement with Malik Riaz, in which he agreed to hand over £190 million—including a £50 million London property—to resolve an investigation into suspected criminal proceeds. The money was then transferred to Pakistan.
However, Pakistani authorities later alleged that the funds were misused by Khan’s government to pay fines imposed on Riaz’s company in a separate case involving undervalued government land in Karachi, rather than being deposited in the national treasury.
Both Malik Riaz and Imran Khan have denied any wrongdoing.
Bahria Town: A Legacy Under Threat
Founded in the late 1990s, Bahria Town has grown into one of Pakistan’s largest private real estate developers and employers. Despite facing multiple allegations over illegal land acquisitions and unauthorized construction, the company had continued to expand until the recent crackdown.
As the legal and political storm continues, the future of one of Pakistan’s largest real estate empires now hangs in the balance.
