Thousands of Pakistanis’ life‑savings are at risk, warns Bahria Town founder Malik Riaz Hussain, as government‑ordered property seizures continue.
Malik Riaz, the billionaire behind the sprawling Bahria Town developments, has written directly to Prime Minister Shehbaz Sharif, demanding immediate state intervention to halt the ongoing confiscations and public auctions of the group’s assets. In his appeal, Riaz argued that each seized plot or commercial block not only diminishes his company’s portfolio but also jeopardises the hard‑earned deposits of thousands of ordinary investors who bought homes, plots and commercial spaces in Bahria Town schemes across the country.
The real‑estate sector in Pakistan has long been a popular avenue for saving, especially for middle‑class families seeking long‑term security. According to Riaz, a significant portion of these families have parked their savings in Bahria Town projects, expecting both a safe haven and a potential appreciation of value. The abrupt removal of properties from the market, he warns, could erode confidence in the entire sector, trigger a wave of defaults, and leave many homeowners facing severe financial losses.
Riaz’s plea highlights an escalating clash between major private developers and regulatory bodies that have intensified since the 2023 crackdown on alleged money‑laundering and tax evasion in the construction industry. While authorities cite non‑compliance and alleged financial irregularities as justification for the seizures, critics argue that the sweeping actions risk destabilising a market that already contributes roughly 5 % of Pakistan’s GDP. The government’s response—or lack thereof—will likely shape investor sentiment not only for Bahria Town but for the broader property market, influencing everything from mortgage lending to future development projects.