Malik Riaz

Quick Facts

Full Name	Malik Riaz
Occupation	Businessperson
Date Of Birth	Feb 8, 1954(1954-02-08)
Age	70
Birthplace	Sialkot
Country	Pakistan
Birth City	Punjab
Horoscope	Aquarius

Malik Riaz Biography

Malik Riaz is one of the most popular and richest Businessperson who was born on February 8, 1954 in Sialkot, Punjab, Pakistan. Malik Riaz Hussain, a Pakistani business tycoon, is the founder and CEO of Bahria Town. It is Asia’s largest privately-held real estate development company.

His son Ahmed Ali Riaz, was named in Panama Papers in April 2016.

In October 2019, the parents of Amanda Halse, one of the 20 victims of the Schoharie limousine crash in the U.S. state of New York a year earlier, named Riaz as a defendant in a wrongful death suit they filed over the accident, since they allege that he had helped finance the businesses of two distant relatives who were principals in the company that owned and operated the limousine.

Malik Riaz Hussain, the Chairman of Bahria Town Pvt. Ltd., has been at the center of some controversies and allegations. The allegations are mostly that he pays to get things done his way. An excerpt from pakistanherald.com states that “National Accountability Bureau (NAB) is currently looking into another application filed by a former military officer Lt-Col (retd) Tariq Kamal, which states that the land on which Bahria town is constructed, and is further expanding, was not acquired through legal means. It is alleged that Hussain has strong ties with Pakistan’s military which assisted him in building a huge empire. Some claims go as far as saying that a handful of the important serving army officers, bureaucrats and lawyers are practically on Hussian’s payroll.”

His real-estate business grew and he developed gated communities in Karachi Lahore, Islamabad and Islamabad during 2000s. These communities covered a combined 45,000 acres. Bahria employed 60,000 people in 2016, making it the largest private sector employer in Pakistan. Riaz is controversial and has been the subject of numerous corruption investigations. Bahria Town Karachi, also owned by Malik Riaz, is Asia’s largest private project.

Malik Riaz Net Worth

Malik Riaz is one of the richest Businessperson from Pakistan. According to our analysis, Wikipedia, Forbes & Business Insider, Malik Riaz 's net worth $5 Million. (Last Update: December 11, 2023)

Riaz began his career in Rawalpindi as a clerk for a construction firm. Riaz became a contractor in the 1980s. In 1995, Riaz’s construction firm Hussain Global signed an agreement to establish a gated community for the Pakistan Navy. Riaz was served by the Navy’s Bahria Foundation with a notice to stop using “Bahria”, for his company’s construction projects. However, Riaz continued to develop Bahria Town Rawalpindi, giving gifts of banglows and mansions to army generals and politically connected individuals.

Malik Riaz was the son of a contractor, who had suffered significant losses in his business. Riaz dropped out of high school after completing his graduation. He worked as a clerk in the Military Engineering Service, and sometimes as a part-time painter. Later, he became a low-key contractor for the military. Dr. Ayesha SIddiqa says Riaz learned to “work the system”. Siddiqa claims that Riaz used his contacts in order to obtain a contract with Pakistan Navy in mid-1990s for two housing projects in the outskirts Rawalpindi. The Pakistan Navy gave Hussain its entire share in 2000. Later, Riaz fought a legal battle against Riaz for contract infringement. Hussain was ruled by the Supreme Court.

After being alerted by Pakistani authorities to sources of his income and cash expenditure, the UK’s National Crime Agency (NCA) began an investigation into Malik Riaz Hussain. In December 2018, £20M was frozen by the UK High Court under the Proceeds of Crime Act 2002. By August 2019, a total of nine court orders were in place, enabling UK authorities to hold £140M. All of the court orders were made against the assets and cash, and not their actual or beneficial owner. In December 2019, Malik Riaz came to a civil agreement with the NCA, handing over £140M in cash, and the Grade II listed house 1 Hyde Park Place, valued at £50million. The NCA commented that the multimillion-pound settlement did “not represent a finding of guilt”. Control of the £190M of assets and cash will be returned under a UK High Court order to the Pakistani Authorities, who have advised that they will ask the UK Courts to sell any assets and return the sum in cash. The amount was transferred to the account set up by Supreme Court for the recovery of 460 billion rupees fine imposed on Bahria Town in a separate case, going towards the reimbursement of the fine.

Height, Weight & Body Measurements

Malik Riaz height Not available right now. Malik weight Not Known & body measurements will update soon.

Who is Malik Riaz Dating?

According to our records, Malik Riaz married to Beena Riaz. As of December 1, 2023, Malik Riaz’s is not dating anyone.

Relationships Record : We have no records of past relationships for Malik Riaz. You may help us to build the dating records for Malik Riaz!

Facts & Trivia

Malik Ranked on the list of most popular Businessperson. Also ranked in the elit list of famous people born in Pakistan. Malik Riaz celebrates birthday on February 8 of every year.

How did Malik Riaz became rich?

He expanded his real-estate company and developed gated communities in Karachi, Lahore and Islamabad during the 2000s, developing a combined area of 45,000 square acres. As of 2016, Bahria had 60,000 employees, making it one of the largest private sector employers in Pakistan.

Who is Malik Riaz wife?

Beena Riaz

How rich is Malik Riaz?

RankNameNet worth (USD)
3| Mian Muhammad Mansha| $3.7 billion
4| Sadruddin Hashwani| $3.4 billion
5| Asif Ali Zardari| $1.8 billion
6| Malik Riaz| $1.5 billion

What is Bahria Town worth?

2019. After 10 months of legal wrangling, the Supreme Court agreed to Bahria Town Karachi’s final settlement of Rs460 billion (approximately US$3.1bn) on 21 March 2019.

Who is the richest person in Pakistan?

Khan is the second richest auto parts magnate behind Georg F. W. Schaeffler who has a net worth of $12 billion. He is also the richest person of Pakistani origin.