Age, Biography and Wiki
Malik Riaz is a Pakistani real estate tycoon and philanthropist. He is the founder and chairman of Bahria Town, the largest private real estate developer in Asia. He is also the founder of the charitable organization, the Riaz Foundation.
Malik Riaz was born in Rawalpindi, Pakistan, on 8 February 1954. He is the son of a retired army officer. He attended the University of Punjab, where he earned a degree in civil engineering.
Malik Riaz began his career in the real estate industry in the late 1970s. He founded Bahria Town in 1996, and it has since become the largest private real estate developer in Asia. The company has developed numerous residential and commercial projects in Pakistan, including the Bahria Town Karachi, Bahria Town Lahore, and Bahria Town Islamabad.
In addition to his business ventures, Malik Riaz is also a philanthropist. He founded the Riaz Foundation in 2008, which provides educational and medical assistance to the underprivileged in Pakistan. He has also donated millions of dollars to various charities and causes.
As of 2021, Malik Riaz's net worth is estimated to be roughly $2.5 billion.
Popular As |
Malik Riaz Hussain |
Occupation |
Founder of Bahria Town |
Age |
70 years old |
Zodiac Sign |
Aquarius |
Born |
8 February, 1954 |
Birthday |
8 February |
Birthplace |
Sialkot, Punjab, Pakistan |
Nationality |
Pakistan |
We recommend you to check the complete list of Famous People born on 8 February.
He is a member of famous with the age 70 years old group.
Malik Riaz Height, Weight & Measurements
At 70 years old, Malik Riaz height not available right now. We will update Malik Riaz's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.
Physical Status |
Height |
Not Available |
Weight |
Not Available |
Body Measurements |
Not Available |
Eye Color |
Not Available |
Hair Color |
Not Available |
Who Is Malik Riaz's Wife?
His wife is Beena Riaz
Family |
Parents |
Not Available |
Wife |
Beena Riaz |
Sibling |
Not Available |
Children |
Ahmed Ali Riaz, Sana Salman, Pashmeena Malik |
Malik Riaz Net Worth
His net worth has been growing significantly in 2022-2023. So, how much is Malik Riaz worth at the age of 70 years old? Malik Riaz’s income source is mostly from being a successful . He is from Pakistan. We have estimated
Malik Riaz's net worth
, money, salary, income, and assets.
Net Worth in 2023 |
$1 Million - $5 Million |
Salary in 2023 |
Under Review |
Net Worth in 2022 |
Pending |
Salary in 2022 |
Under Review |
House |
Not Available |
Cars |
Not Available |
Source of Income |
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Malik Riaz Social Network
Timeline
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."
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.
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.
In April 2016, his son Ahmed Ali Riaz was named in the Panama Papers.
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. Riaz is a controversial figure and has been subject of several corruption investigations. Bahria Town Karachi is the biggest private project of Asia, which is also owned by Malik Riaz.
Malik Riaz was born to a contractor who suffered heavy losses in business, forcing Riaz to drop out of high school after completing his matriculation. He went on to work as a clerk with the Military Engineering Service and often working part-time as a painter. He later moved to become a low-key contractor in the military. According to Dr. Ayesha Siddiqa, Riaz learnt to "work the system". According to Siddiqa, Riaz used his contacts to secure a contract with the Pakistan Navy in the mid-1990s to develop two housing schemes in the outskirts of Rawalpindi. In 2000, the Pakistan Navy transferred its entire shareholding to Hussain and later fought a legal battle with Riaz over contract infringement in which the Supreme Court ruled in Hussain's favor.
Riaz started his career as a clerk with a construction company in Rawalpindi. In the 1980s, Riaz moved to become a contractor, and in 1995 Riaz's construction company Hussain Global, signed an agreement with Pakistan Navy's charitable trust known as Bahria Foundation to develop a gated community for Pakistan Navy. The Navy's Bahria Foundation served a legal notice to Riaz to stop using the word "Bahria" for his company's construction projects, but Riaz went on to develop Bahria Town Rawalpindi offering gifts of banglows, and mansions to politically connected people and army generals.
Malik Riaz Hussain (Urdu, Punjabi: ملک ریاض حسین ; born February 8, 1954) is a Pakistani business tycoon who is the founder of Bahria Town, the largest privately held real estate development company in Asia.