Malik Riaz

Three British MPs of Pakistani origin attended promotional events for a Dubai real estate project owned by Pakistani tycoon Malik Riaz Hussain and his son Ali Riaz Malik, according to an investigation by The Sunday Times. The pair are barred from entering the UK and face ongoing investigations in Pakistan. Read More: https://theboardroompk.com/iran-rejects-trump-deadline-on-hormuz-warns-of-retaliation/ The MPs involved include Labour’s Naz Shah and Afzal Khan, along with independent Ayoub Khan. They spoke at roadshow events in June 2024 promoting the Waada project, a planned 14-million-square-foot development in south Dubai. The project promises luxury apartments, mansions, a five-star hotel, and a replica Eiffel Tower. At one event, Malik Riaz and his son appeared on large screens. Ali Riaz Malik stated, “The true measure of success is not what we build, but who we uplift.” Background on Malik Riaz and Ali Riaz Malik Malik Riaz, 72, founded Bahria Town and serves as its chairman. His 48-year-old son is the company’s CEO. In 2019, both agreed to forfeit £190 million to Britain’s National Crime Agency (NCA) after an unexplained wealth order investigation. The settlement included proceeds from a £50 million London mansion. The NCA returned the funds to Pakistan. However, the repatriated money became central to corruption allegations against former Prime Minister Imran Khan. He allegedly allowed the funds to settle Bahria Town debts in exchange for land and cash for himself and his wife. Khan has been in detention since August 2023 and maintains that the charges are politically motivated. Although Riaz and his son have not been convicted of any crimes, they described the NCA settlement as civil in nature and dismissed critics as engaging in mud-slinging. UK Entry Ban In November 2021, the UK Court of Appeal upheld a Home Office decision to bar Malik Riaz and Ali Riaz from entering Britain. Lady Justice Nicola Davies said their exclusion was “conducive to the public good” due to their “conduct, character and associations.” Meanwhile, Pakistan has issued arrest warrants for several Bahria Town executives, including Shahid Mahmood Qureshi, the head of global sales who led the UK roadshow. Islamabad has formally requested extradition for the father and son and warned the public that investing in the Dubai venture could constitute money laundering. Despite this, The Sunday Times revealed that the three MPs attended promotional events over eight days in June 2024. MPs’ Participation in Roadshows Afzal Khan, Labour MP for Rusholme and a member of the parliament’s joint human rights committee, appeared at the roadshow launch at the Royal Nawaab Pyramid in Stockport on June 14. He praised the developers’ “30 plus years of experience” and took part in a ceremonial procession alongside Qureshi. Ayoub Khan, independent MP for Birmingham Perry Barr, attended the Birmingham event at the Hyatt Regency the next day as a “guest of honour.” He told attendees that the developers were “those that created Bahria Town… there’s a track record behind the organisation.” Naz Shah, Labour MP for Bradford West, joined the gala finale in Mayfair, describing the company as having “a successful reputation in Pakistan.” All three MPs’ appearances were later featured in promotional materials and advertisements for the Dubai project. MPs Deny Endorsement Ayoub Khan told The Sunday Times that he had “no prior knowledge of any historical impropriety” and has demanded the removal of all references to him from promotional materials. He stressed that he did not encourage constituents to invest. A spokesman for Naz Shah said she attends many events related to her constituents’ Pakistani heritage, and this was one such event. Afzal Khan clarified that he attended “briefly after being invited by a local business person, not the organisers” and did not endorse the company or promote the project. The report highlights concerns about the involvement of public officials in high-profile international property promotions. Critics argue that MPs’ appearances, even if unintentional endorsements, lend credibility to developers with controversial financial histories. While no legal wrongdoing has been attributed to the MPs, the revelations have prompted calls for stricter vetting for elected officials attending overseas promotional events. Malik Riaz and his son continue to deny any criminal wrongdoing. Bahria Town maintains that the Dubai project is a legitimate development venture. Analysts say the controversy could affect the project’s reputation among international investors, particularly those aware of the UK ban and Pakistan’s investigations.