ISLAMABAD- Malik Riaz, Pakistan’s property tycoon has decided to enter new horizons, i.e. media. He is renowned for his Bahria Town schemes, the posh housing communities. He is going to launch his own media empire.
He is entering this field to protect his commercial interests and reputation. He told Reuters in an interview that he plans to launch multiple channels. He says, “To stop blackmailers, I have decided that there is no way but to go into media. I will launch many TV channels, not one.”
Malik Riaz has been the personality who always attract controversy. He is caught in many ongoing investigations into his business practices by National Accountability Bureau (NAB). He is accused of illegal land grabbing and currying favor with politicians to acquire land for his property business on cheap rates.
The tycoon denies any wrongdoing and stresses the need for having a powerful voice in the media to fend off these allegations. Previously he also held the license to Bol TV, before selling it to Axact in 2013.
His Bahria town project is bigger than Islamabad itself, and it comprises part of his property portfolio encompassing more than 40,000 acres of developed land countrywide. Bahria Town also employs 60,000 personnel.
A far cry from the rest of the country, the housing communities are like an ecosystem of their own with smooth roads, imported grass and round-the-clock security. Recently Bahria Town entered a partnership with Mobilink to provide digital services to the inhabitants of Bahria Town, as well as one with PTCL for ICT solutions.