Recent rumors on social media suggested that real estate mogul Malik Riaz would declare bankruptcy.
The Supreme Court’s 2019 fine of Rs. 460 billion on Malik Riaz’s Bahria Town was the impetus for the bankruptcy rumors.
The reports also stated that following the alleged bankruptcy filing, real estate values in every Bahria Town in the nation would drastically decline.
But now that Bahria Town has formally made a statement worried Bahria Town citizens can relax.
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Bahria Town took to X, dismissing the rumors as “malicious propaganda.”
“Bahria Town is a highly esteemed Real Estate brand in Asia, deeply ingrained in its dedication to advancing and bolstering the economy of Pakistan,” the company declared.
“We persist in our dedication to serving the nation and delivering world-class projects despite facing malicious campaigns and unwarranted criticism from a misguided faction of the media,” the statement continued.
We have persevered through hardships, and our commitment to improving Pakistan is unwavering. This commitment will stand, insha’Allah,” the statement said in its conclusion.
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