The National Accountability Bureau (NAB) has issued an advisory cautioning the public against investing in the Bahria Town Dubai project. The anti-corruption watchdog expressed concerns over the project’s legal status and the potential risks for investors.

In a statement, NAB warned that the Bahria Town Dubai project does not have the necessary approvals and authorizations from the relevant regulatory authorities. “Investors are urged to exercise extreme caution and verify the authenticity of any claims made by the project’s representatives,” the statement read. NAB highlighted that the project’s developers had failed to provide transparency regarding their financial dealings and land ownership.

The advisory comes amidst growing complaints from individuals who claim to have been misled into investing in the project. Several complaints have been lodged with NAB and other regulatory bodies, alleging fraudulent practices, including misleading advertisements and unfulfilled promises of returns on investment.

NAB emphasized the importance of verifying the legal and financial standing of any real estate project before making investments. “It is crucial for potential investors to conduct due diligence and ensure that all legal requirements have been met by the developers to avoid falling victim to scams or financial losses,” NAB stated.

The Bahria Town Dubai project, which has been widely advertised as a luxury real estate development, has come under scrutiny for its failure to comply with regulations. NAB has urged media outlets to avoid promoting such projects without proper verification, citing the potential harm to the public.

This is not the first time Bahria Town has faced allegations of irregularities. The company’s other projects in Pakistan have also been the subject of legal and regulatory challenges, raising questions about its credibility and operations.

NAB’s advisory serves as a reminder for individuals to be vigilant and to seek legal or financial advice before investing in any real estate venture. The bureau reiterated its commitment to protecting the public from fraudulent schemes and holding developers accountable for their actions.