In a significant development on Tuesday, a team from the National Accountability Bureau (NAB), accompanied by Rawalpindi police, conducted a raid on the offices of Bahria Town in Rawalpindi. This move comes as part of the ongoing investigation into the Al-Qadir Trust case, which has already seen Bahria Town owner Malik Riaz and his son Ali Malik declared proclaimed offenders by an accountability court.


Although there has been no official statement from NAB or other authorities, according to media reports several sources within the accountability bureau confirmed the raid on the condition of anonymity. NAB spokesperson Birj Lal expressed ignorance about the raid, stating, “The raid might have been conducted by NAB Rawalpindi, but I cannot confirm it.”

The primary objective of the raid, as reported by an insider, was to confiscate records related to the Al-Qadir Trust case. This case has garnered significant attention due to the involvement of Malik Riaz, a controversial figure in Pakistan’s real estate sector.


Malik Riaz, who is currently in the UAE, took to X (formerly Twitter) to share what appeared to be CCTV footage of the raid. The video showed several men in plainclothes going through shelves and drawers in an office. However, the authenticity of the footage and whether it was from the Bahria Town offices could not be verified.

In his social media posts, Riaz reiterated his refusal to become an “approver” despite what he described as “oppression”. He claimed that the raid lasted for hours and that nine of his employees were taken away, along with office records and vehicles. He also alleged that many Bahria Town properties and accounts were seized last month and called on the government to release his staff and return the seized equipment.

Background and Controversies

Malik Riaz, known for his opulent real estate projects, has a history marked by controversy and legal battles. He has been accused of using questionable and high-handed tactics for land acquisition. Bahria Town and Riaz have been at the center of numerous court cases, including a recent Supreme Court order to pay the Sindh government for land acquired for Bahria Town Karachi.

In a cryptic social media post last week, Riaz hinted at facing “pressure” to take a political side and experiencing financial losses but vowed not to be used as a “pawn for political motives”. This statement was notable given his reputation for being well-connected with political parties, the media, and the country’s civil and military establishment.

Implications and Future Developments

The raid on Bahria Town’s offices and the subsequent actions highlight the ongoing scrutiny and legal challenges faced by Malik Riaz and his real estate empire. The Al-Qadir Trust case is just one of many legal issues that have plagued Riaz over the years, reflecting broader concerns about corruption and accountability in Pakistan’s real estate sector.

As the investigation continues, it remains to be seen what further implications this raid will have on Bahria Town and its operations. The case underscores the significant challenges faced by high-profile figures in navigating Pakistan’s complex legal and political landscape.



Experienced Senior Research Analyst



Sikander Raza, a Senior Technical Analyst



Hamza Saleem, a Senior Business Analyst



Irsa Sajjad, as a Research Analyst for Equities

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