NAB Authorized to Seize Mall of Islamabad Linked to Malik Riaz

The Karachi Accountability Court has granted the National Accountability Bureau (NAB) written permission to seize the Mall of Islamabad, a commercial property allegedly connected to real estate magnate Malik Riaz, as part of an ongoing money laundering probe.

According to NAB’s petition, a reference under Section 8 of the Anti-Money Laundering Act is already pending against Malik Riaz and several co-accused. Investigators claim the Mall of Islamabad — valued at around Rs385 million — was purchased through front companies operated by Riaz’s relatives, including his brother Farhat Hussain and nephew Wasim Riffat.

The property, situated at Plot No. 65N, Sector F-7/1, Blue Area, Islamabad, was initially purchased in 2014 by Ayaz Khan and Waqar Riffat. NAB maintains that new evidence has confirmed the property’s connection to illegal financial transactions.

The court has also noted that arrest warrants have been repeatedly issued for Malik Riaz and his sons in related money laundering cases. The seizure marks a significant move in NAB’s broader investigation into high-value real estate and financial corruption.