Malik Riaz

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This article is about the Pakistani business magnate. For the first governor of the Balochistan province of Pakistan, see Riaz Hussain (politician).
Malik Riaz Hussain
Born (1954-02-08) February 8, 1954 (age 70)
Sialkot, Pakistan
Residence Islamabad, Pakistan
Nationality Pakistan Pakistani
Citizenship Pakistan Pakistan
Occupation Chairman Bahria Town
Spouse(s) Beena Riaz

Malik Riaz Hussain (Urdu, Punjabi: ملک ریاض حسین; born February 8, 1954), is a Pakistani business magnate, philanthropist and a real estate investor who founded and owns Bahria Town.[1][2]

Hussain is one of Pakistan's wealthiest people. He was born into a family of modest means, and was often troubled financially. He started working as a clerk at the age of 19 and eventually launched his own business.[3]

Hussain's success has invited many speculations and controversies; these have made Hussain one of Pakistan's most public and debated figures.[4] Hussain has made significant contributions towards philanthropy, be it in constructing hospitals or houses.[5][6]

Controversies

Malik Riaz Hussain was approached by an intermediary of Arsalan Iftikhar Chaudhry, son of Chief Justice Iftikhar Muhammad Chaudhry, that he had inside information and a case and it can be resolved in his favour. Malik Riaz Hussain in an official deposition produced itemised list of how he bankrolled a playboy lifestyle for the son of the country's top judge. Arsalan Iftikhar Chaudhry had allegedly promised to influence his father's rulings.[7]

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."[8]

In April 2016, his son Ahmed Ali Riaz was named in the Panama Papers.[9]

References

  1. ↑ Bahria Town Karachi: Projects received overwhelming response. tribune.com.pk. October 5, 2013
  2. ↑ Housing projects: Real estate sector sees potential recovery. tribune.com.pk. November 1, 2013
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Profile: Malik Riaz Hussain. dawn.com. June 10, 2012
  5. ↑ Malik Riaz offers to reconstruct homes destroyed in earthquake. geo.tv
  6. ↑ Javeria Nasir (March 12, 2013) Malik Riaz inks $20bn deal with US business tycoon. aaj.tv
  7. ↑ Pakistani chief justice's son accused of taking gifts to influence father. theguardian.com. June 12, 2012
  8. ↑ http://www.pakistanherald.com/profile/malik-riaz-hussain-1339
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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