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Impact of Malik Riaz on Real Estate Industry in Pakistan and Controversies surrounding him

Introduction:

It is no secret how Malik Riaz has become a big real estate tycoon in less than two decades from a small time contractor in the 80s.

He is the seventh richest person in Pakistan with a net worth of over a billion dollars. His journey has been no less than a movie plot, involving many controversies and scandals over the years.

Investigation & Collusion:

In 2013, Shoaib Suddle, the Federal Tax Ombudsman investigating Malik Riaz, ordered the Federal Board of Revenue (FBR) to recover of Rs 119 billion owed by Malik Riaz in taxes. This was set aside by then president, Asif Ali Zardari.

Malik Riaz successfully gained Zardari’s partnership and with help of Rahman Malik as the Federal Interior land grabbing in the Islamabad, Rawalpindi was assured. Malik Riaz is skilled in bribing the officials or manipulating them to bend the rules in his favor.

Controversy of Bahria Town Karachi:

Bahria town Karachi Real estate Bahria Town project located on super highway in Karachi is full of controversies and scandals since its beginning in 2014. With the help of Asif Ali Zardari, Sindh government had handed over 44,000 acres of government land near the Sindh Super Highway to Bahria Town.

Naturally these allegations were denied by Malik Riaz and Sindh Government immediately. The officials elected at the time also helped Riaz acquire illegal land and not to over look the increase in the development process in Bahria Town.

Many small villages and its occupants were forced to evacuate in order to make room for the mighty project.

Ownership of Bahria Town & Government losses:

Ownership of Bahria town On May 2018 the supreme court banned Bahria Town Karachi from selling any plot or apartment, declaring the grant of land to the Malir Development Authority (MDA), and its exchange with the land of Bahria town illegal.

The Supreme court also ordered NAB to start its inquiry into the matter which was protested by Malik Riaz as he did not want NAB to do anything with his project.In 2015 there were a number of petitions filed involving the grant of 9,385-acre land in 43 Dehs by MDA to Bahria Town.

The land was given to Bahria Town by MDA without any bidding in exchange for a barren land on Balochistan border with no significant value.

MDA is only authorized to lease the land to private developers however in the case of Bahria Town the ownership was transferred which resulted in heavy losses to the Government of Pakistan.

Defence of Bahria Town in Court:

During the petition hearing by Bahria Town seeking review of Supreme court’s judgement in Sep 2018 CJP Mian Saqib Nisar raised the question of political connections and their influence behind the exchange of land between bahria town and MDA but Aitzaz Ahsan argued the court that Malik Riaz converted a barren piece of Land into Dubai equivalent housing society.

He also claimed that, this living standard has never been made available to middle and lower middle class and that all the misdemeanors and corruption evident in the project should be overlooked and instead the fine quality of work should be focused on.

However the Cheif Justice Pakistan stated that the court would never allow any individual to swallow or monopolies public land.

Bahria town Controversy On October 11, Bahria Town Karachi took its petition back challenging the Supreme Court decision when the court expressed the intention of constituting an Implementation Bench.

Controversy of Bahria Town Rawalpindi:

Bahria Town, Rawalpindi is accountable for snatching 1170 kanals of forest land in the Takht Pari area near Islamabad. While the Forest Department, itself has encroached on an area of 765 kanals of Bahria Town. The court declared this mutual encroachment deal, deeming it illegal and having no effect.

On Oct 9, The Sindh High Court restricted Malik Riaz from leaving the country while granting him a transitory bail & in forgery case lodged by the Additional Secretary of Forests and Wildlife, Punjab.

Malik Riaz not just known to leave the country in his private plane but also acquired a large sum of properties in the UK by laundering money and political influence.

DHA Valley Controversy:

Defence Housing Authority (DHA) Valley, Islamabad, housing project initiated in August 2008 is a joint venture between Bahria Town and DHA was proposed for the families of martyred army personnel.

It was supposed to be completed by 2011 however due to several litigation issues, slow development & corruption it has been delaying. Many civilians ,serving and retired military officers and families of martyrs were cheated by this housing project.

A case was filed in May 2016, stating that Rs 62 billion collected by DHA from the public was transmitted to Bahria Town’s account, under an invalid agreement and without any lawful authority.

Gen Ashfaq Parvez Kayani’s brother Maj (Retd) Kamran Kayani’sfirm was hired to provide land for DHA Valley scheme, however over the period of six years,he failed to deliver the land, promting DHA to take the case to NAB.

DHA says Kamran Kayani was embezzling money. In October 2016, former Army Chief Gen Raheel Sharif held Kamran Kiyani accountable for the scam, he allowed NAB to take action against all the culprits, unfortunately the then NAB administration failed to take a significant action. Malik Riaz allotted houses and plots as a favor to those who provided their services to him.

Influence Over Main Stream Media:

How is that all these controversies and scandals failed to gain any attention in mainstream media? This only proves the influence of Malik Riaz’s on the main stream media of Pakistan and his reach.

He very openly admitted that he has bribed senior government officials, politicians, retired servicemen and others to get permissions and land for his projects, yet the officials of this country nor the media has taken any action against him.

Hefty amounts paid for ads and the favors and gifts he gives to the electronic media owners and TV anchors no one in Pakistani media is willing to take any action against him. He holds enough power that he can have rules and regulation changed to serve his interests.

Water Scandal in Bahria Town Karachi:

Malik Riaz very easily diverted four, three-inch diameter water connections to Bahria town those were meant for Karachi’s water scarce poverty stricken areas, from the Dumlottee intersection.

Meanwhile Malik Riaz has succeeded in providing an upscale living to his high society; the remaining city is facing water shortage & loss.

Citizens of Karachi are forced to purchase over priced water tankers for their daily use, while government turns blind eye towards the matter as it has on every other thing that Malik Riaz does in the name of development of this country.

One might say social work can be a scam. Being noble on the outside and being poisonous on the inside is hypocritical and toxic behavior.

But being in a society where all of the bigger players and bureaucrats are toxic and contributing negatively to the society, the moral standards can get compromised.

And this is not just a personal opinion because so many people can relate to giving a little flexibility here and there to the people who are making an actual difference in society.

However controversial this topic may seem, have a look at both perspectives of this situation and some relevant facts and figures to see where Bahria Town and other projects of Malik Riaz will stand in the future.

Impact of Malik Riaz on Real Estate Industry in Pakistan and Controversies surrounding him

False accusations on Malik Riaz:

Recently, the business tycoon is being dragged in Uzma Khan’s case. The alleged says that the husband of Malik Riaz’s granddaughter, named Usman is caught in a scandal with an actress Uzma Khan.

The question here is why the business tycoon is accused of the matter? History shows that big names are always dragged in such matters. Malik Riaz in his recent tweet has said:

“I categorically rebut this malicious propaganda associating me with a viral video. Usman is not my nephew. I’m appalled at such below the belt attempt to malign me for something I’m not involved in any capacity.

I would also like to inform that I’ll be filing defamation cases against anyone who tries to implicate me wrongfully for such disgraceful incidents.”

Malik Riaz has clearly refused all allegations against him. The disgraceful act has nothing to do with the tycoon. This is not the first time he is being dragged in an incident. It’s a trend to connect the incidents with famous names.

Most of the time people use the name to defame the businessman, Amna Usman (Daughter of Malik Riaz) in a recent video message mentions’:

“I would also like to clarify that my husband Usman Malik has nothing to do with Malik Riaz Hussain, he is not a part of his immediate family.

Barrister Hassaan Niazi has a personal grudge with Malik Riaz and he is using this incident to malign him,” she said, alleging that Niazi had also attempted to “settle the matter” in return for money.

The tweet says about the defamation act based on the personal grudges. Although the story of both sides should be heard. The majority commenting and supporting should make a statement based on valid facts and figures.

Such acts are not acceptable. But when you have a name in the industry people associate and accuse of such issues without proper research and facts.

The critics also comes along but such things are often baseless and often used as a tactic for defamation. The card is often played by the competitors in the industry but without proof and facts such things must be avoided to said.

Positive Perspective:

First of all, Malik Riaz is a businessman and a really good one. Being called a business tycoon of Pakistan in these ages could be very rare, and we all must know the main purpose of conducting business is earning profits and executing the corporate social responsibility by giving back to the society.

The Bahria Town projects are up scaling the living standards of society and working really hard to make them accessible to the general audience. It would not be wrong to say that Malik Riaz started to make the dream turn into reality by initiating the concept of gated housing societies in Pakistan.

Conclusion:

Without doubt, Bahria town is the biggest private project of Asia. The artist of this magnificent project is business tycoon Malik Riaz. One can say that successful projects are based on many transparent and unethical operational practices.

Sometimes they bury some skeletons in the closet to build a successful empire on them. However, the things that matter in the end is general public getting advantage from corporations in form of successful residential projects and philanthropic practices.

Many other societies are in line to compete with Bahria Town but the outstanding ones are Blue World City, Capital Smart City and Park View. The societies are located near to the Capital, Islamabad and Rawalpindi.

It also gives access to Motorway M2 and the China Pakistan Economic Corridor’s eastern route. The route will also ultimately support in increase trade and these societies being hub of trading. The rates of societies are increasing day by day. The societies have become famous among overseas because of its futuristic development plan.

The other societies people also interested in are: University Town, B-17 Multi Garden and Islamabad Cooperative Housing Society. These are also Islamabad based societies with prime locations.

The housing projects aim to provide equal residential and commercial opportunities for all norms of society and the beauty of capital comprises them all.

The construction at the location has started as per the standards. The payment plans are designed for the ease of people with flexible installment tables.

For more information, please visit: www.propertynew.pk

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