ISLAMABAD – Supreme Court of Pakistan becomes Bahria Town’s last hope as leading real estate giant knocks on apex court’s door to block mega auction of its properties.
Filed through senior lawyer Farooq H. Naik, the urgent appeal challenges Islamabad High Court’s decision that gave the green light for the massive auction of Bahria Town’s prized assets, set for August 7, 2025.
The company demanded court immediately suspend the auction, warning of catastrophic consequences if it proceeds. This comes just days after the National Accountability Bureau (NAB) stunned investors by announcing the auction of properties linked to billionaire tycoon Malik Riaz, tied to £190 million unpaid settlement.
With operations crumbling, staff unpaid, and services grinding to halt, Bahria Town’s founder Malik Riaz issued chilling warning, saying the company is at edge of collapse as he pleaded for arbitration and vowed to comply with any ruling but the clock is ticking.
Residents of Bahria Town communities in Karachi, Lahore, and Islamabad fear losing access to basic services. Property dealers report a freefall in bookings, while construction handovers have ground to a halt.
Top analysts are sounding alarm, saying if Bahria Town falls, the entire real estate sector could be dragged into a black hole of uncertainty.
Online property forums are ablaze with speculation, fear, and confusion. Meanwhile, investor groups are urging people not to panic but confidence is evaporating fast.
Supreme Court’s decision in the coming days could determine the fate of millions.
