Islamabad, January 9, 2025: Real estate magnate Malik Riaz and Bahria Town are facing a major setback as the Capital Development Authority (CDA) has issued a notice imposing a penalty exceeding Rs 1.84 billion.
The notice copy exclusively obtained by SUB NEWS, cites Bahria Town’s failure to pay charges for the transfer and conversion of commercial land and non-compliance with its layout plan conditions. Despite multiple reminders from the CDA, including a notice issued on August 23, 2023, the dues remain unpaid.
The CDA has warned that if Bahria Town does not clear its dues within 15 days, its commercial area and associated No Objection Certificate (NOC) may be revoked. This notice adds to the growing difficulties for Malik Riaz and Bahria Town, raising questions about the sustainability of their commercial operations.
