Islamabad: The National Accountability Bureau (NAB) handed over PKR 670 million to Shaheen Foundation, which it retrieved from Al-Hamra Builders (Pvt) Ltd and Eden Builders (Pvt) Ltd, according to a news source.
The retrieved amount will be distributed among the affected members of Shaheen Foundation. Reportedly, the old management of Eden Builders and Al-Hamra Builders received PKR 1,258 million from members of Shaheen Foundation, against the 700 plots the foundation booked with them. Eden Builders and Al-Hamrah Builders didn’t handover property possession to Shaheen Builders; they instead sold the property to another group.
The amount recovered by the NAB also includes the profit on the payments these builders received from the foundation.
Related News
Samra Zulfiqar
Samra Zulfiqar is a Real Estate Analyst at Zameen Media (Pvt) Ltd. You can also find and follow her on Google+.