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South Asia’s Property Tycoon May Lose Its Name

South Asia’s Property Tycoon May Lose Its Name

Bahria Town is the cynosure of Pakistan real estate. There is no other housing society bigger than the Bahria Town not only in Pakistan but entire South Asia. It is like the Trump Real Estate of Pakistan. But, just like every second powerful person in Pakistan is visiting courts and facing different cases, the real estate tycoon also facing a complicated case in the session courts of Rawalpindi.

The case was actually filled in 2002 by a naval subsidiary Bahria Foundation. In the March 2015, the civil judge hand down the verdict of restraining the property tycoon from using the name of “Bahria” for their housing society.

Earlier this month the Supreme Court directed the session courts to complete the proceedings within two weeks. After the verdict, the Bahria Town (Formerly) appeal against the verdict of the civil judge which put down by the Additional District and Sessions Judge Hakim Khan Bakkhar.

So it is much clear now that the Malik’s Riaz real estate development company is on the verge of losing its name. Now the only step they can take is to file an appeal into the Supreme Court which is also highly unlikely to get accepted due to all the fuzz going on around Malik Riaz and his numerous other cases going on in the Supreme Court.

So, let’s check out this verdict and its effect on Pakistan’s biggest housing society through branding and marketing perspective.

Name Association

The country now associates the word “Bahria” to Malik’s housing projects than the Pakistan Navy. The Bahria is now glued to the Malik Riaz projects that will not be easy to remove. The Pakistanis do not like change a lot. Moreover, most of the Pakistanis think that Bahria Town is the project of Pakistan Bahria (Navy) which in actual is not true.

A Decline in Project Value

The value of the project especially the recent initiative of the Bahria Town Karachi’s value will decline after this verdict. The project is already in jeopardy due to different cases of the land acquisition. The Supreme Court of Pakistan has already declared all the transfers null and void that created a great sense of urgency and anguished in all those who have invested in the Bahria Town. According to the REDBOX, Pakistan’s biggest property searching web portal, the searches for the Bahria Town projects has gone down since such verdicts. People are now taking more interest in other residential and commercial projects than the Bahria Town.

Lack of Trust

Now after back to back two verdicts against the Bahria Town instance, the reputation and goodwill of the company is in danger. Buying a real estate in Pakistan especially in a project that has been the cynosure of Pakistan’s real estate industry for the years requires heavy investments. Just like the REDBOX claim to witness a decrease in the searching of Bahria Town in their inventories, their projects are also losing the trust of the masses. Albeit, the downfall of the Bahria Town is not in favor of Pakistan real estate sector. Projects like Bahria Town has been the catalyst of Real Estate in Pakistan and the source of bread and butter of thousands of realtors.

Final Words

Still, near to dozens of cases against the Bahria Town is still in the proceedings. The top investigative agencies of Pakistan are digging and discovering new revelations about Bahria Town. However, the realtors are still hoping and praying that Bahria Town would come out clean from all this mess.

Author Bio

The Arsal Baig has been providing his words to different companies and brands from now half a decade. Right now he is working with the REDBOX Pakistan’s biggest property web portal.