ISLAMABAD – Residents of Bahria Town, Pakistan’s largest private housing society, are in shock after founder Malik Riaz warned of a potential shutdown of operations.
The announcement has created panic among homeowners, investors, and property agents as uncertainty grows around the future of the real estate giant.
In a social media statement, Malik Riaz, who is currently based in the UAE, revealed that Bahria Town is struggling under “unbearable legal obligations and pressures.”
He said the company is facing severe financial strain, ongoing legal battles, and the risk of a complete service breakdown across its projects in Karachi, Lahore, and Islamabad.
“We’re being crushed under legal cases. Service disruptions are now inevitable,” Riaz said, triggering widespread alarm.
The crisis comes as the Islamabad High Court reviews petitions linked to the auction of Bahria Town assets seized over an unpaid £190 million settlement. Malik Riaz has requested dialogue and arbitration with authorities to seek a peaceful resolution.
He pledged to comply with any arbitration outcome, including financial penalties, but admitted that cash flow shortages and halted services have pushed the housing giant to the brink.
The news has shaken millions of residents and investors. Many fear losing access to essential services, while property dealers report a drop in new bookings.
Ongoing construction projects also face uncertainty, with delays and stalled handovers expected if the crisis continues.
Real estate analysts warn that Bahria Town plays a vital role in Pakistan’s property market. A collapse could undermine confidence in the entire private housing sector.
Investor groups have urged calm and advised against panic selling, although online property forums remain filled with fear and speculation.
Residents and investors are encouraged to rely on official Bahria Town updates and avoid acting on rumors during this critical period.
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