There are eye-opening facts the people who want to buy property in Bahria Town must know.
1) If you buy property in Bahria Town you do not become the owner of the property as Bahria Town does not give you the lease or sublease. It means that the Government of Pakistan does not recognize you as an owner of that property because you do not pay any Government fee in the Revenue Department of Government of Pakistan.
2) You can not get any Bank loan from any Bank in Pakistan as your property is not leased with Government of Pakistan.
3) Bahria Town is a one-man show. It means that Bahria Town is not registered in SECP or listed as a Public Limited Company so this is the reason Malik Riaz threatened the Supreme Court that if he goes down, Pakistan goes down.
4)The Launch of Escort Investment Bank, BT is killing the investor of Bahria Town with Two-Edge Sword, from one hand he is selling you the property and from another hand he becomes the owner of your property (which is not even your at the first hand) by providing you with the loan from his own Bank called Escort Investment Bank. So Malik Riaz is robbing you twice.
5) Escort investment Bank is not affiliated with State Bank of Pakistan it is just registered with SECP as a Non-Banking finance company which can easily be verified from SBP and Bloomberg etc.
6) Since Bahria Town is a one-man enterprise so if something happens to Malik Riaz all the investments done by the investors in BT is lost.
7) One shocking fact is that Bahria Town is already pledged Bahria Townland with local and foreign banks and got the loan on that land and transferred that money to UK and USA. Where his son Ali Malik is taking care of that money.
8) If you want to save your investment in BT you should ask Bahria Town to give you the lease of your property in that case you are totally safe and no matter anything happens to BT the investors will be safe.
Pakistan Government must take a strict action against BT and get the lease process done As soon as possible.
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