The Golden God! Malik Riaz Effect Continues…

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Last night, entire, my brain was oozing with lines, phrases, and expressions that can encapsulate the acumen of Mr. Malik Riaz but I failed. Sir you are beyond imagination, you are a king, a magician, a miracle,  if America is the land of opportunities, then Malik Riaz is its dad,  hire me, take me as your pet, your genius has brought you where you are right now, who the hell are we to comment otherwise.

We cannot even begin to imagine or substantiate what you did with your housing project. When we wrote the first part titled “The Malik Riaz Effect” we were naive to think that we can fathom the extent of financial manipulation and gambling, banks cant, brokers can’t even largest of the chartered accountancy firms cannot calculate the volume of trade.   We are forced to write the second part, not in order to defame you, No Sir, respect for you only, you did what we deserved. You lead the largest black Market economy, surely in the world. I think the government and state bank should invest with Mr. Malik Riaz, I am sure it will pay off all the loans on Pakistan.

Anyways, we would try to be more rationale then the last time, we spent many hours of researching, we sat with brokers, agents and investors and we have no doubt in saying it again, There is no “American Dream” , there is only “The Malik Riaz Effect”, that is the real dream.

Let us continue with recounting sold facts.

First fact is, now there is a job opportunity that is like a stock broker, he is called the BT file broker. A poor man that makes 100,000 rupees per day as his commission, on the rate of 2000 rupees per file. He finds the buyers; he finds the sellers, and sells only the “PARCHI” and makes money out of it.  Now you would say he is an Estate Agent, honey, there should be a piece of Estate for the estate agent to sell, but there isn’t. Then how Mr. Malik Riaz is doing it, well the key lies in some more facts.

It all started off from buying our beloved media houses through an advertising budget of 1 billion, free and independent as they are, so they sell themselves to whoever they like, they don’t care about the tax free income, don’t care about the black market economy, media doesn’t even care about the people being robbed off in the name of Bharia Town.

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Second fact is, there is land, and its allotted land, 28,000 acres of Land allotted to Bahria Town, by MDA. Our media won’t tell you, Bahria town would not tell you and Malik Riaz won’t tell you, and that is the key. Keep buyers guessing, so they think there is not enough land.  We are chanting there is not enough land, there is nothing, but there is a lot of land. Keeping it a secret would create demand, and in that demand creating room for gambling by constantly feeding media and through media, the masses.

The world thinks that they are missing up on something big that is Bahria Town.  So all those who think like that, please wait and see for yourself, there is too much land. Media played a pivotal role in ensuring that positive propaganda keeps coming, things like waivers and discounts, portraying Bahria Town as a lifetime opportunity.

Now you may think that both the facts are contradictory, but there is a difference. See if it all it was disclosed before that there is allotted land that can compensate everyone then there would not have been gambling. So second fact is a disclosure, or you may say breaking news.

Second biggest cartel involved in Making Bahria Town bigger then Stock Exchange is banking industry. They remained loyal to their cause of market manipulation and ensured a thriving black market economy.  Forms were supposedly available at the banks.  They ensured that only one percent of the forms are given out from the banks, rest of 99 percent people was told from the banks that forms are hot cakes, hence they are sold out.

Now the biggest brokers, apart from estate agents are bank managers. They are selling forms, and you can get it in black, as many as you like. (If you can’t, please tell us, we will arrange it for you.)

Third fact, there won’t be any balloting, wait and see. And if it all there would be, you won’t find a single person, who filled a form and didn’t have a plot.

It was also predefined that if the number of forms crosses a certain limit, let’s say 100,000, then the prices of the plots would be on the higher end.  A 125 sq. yards plot for 1.7 million, with a quarterly installment of nearly 100,000 rupees, is it not expensive?

This ensured that people, general masses, who purchased 3 or 4 forms in 60,000, fail to fill the booking token of 150,000 PKR, for the lowest classification of 125 sq.yards plot.

Hence they would sell remaining or all of their forms to the brokers, who by the grace of media were asking 150, to 300, 000 rupees of it. This ensured the free and multiple trade of  “Parchi” or form if you may call it, from the investor, to general public to the investor again.

Another fact is, there is official book, and there are official rates, that comes daily from 10 to 12 pm. on the 7th of feb, rates would open at 0.3million for a file of 125 sq. yards, so if you are interested in gambling, then please contact your nearest bank manger or estate agent.

Coming to the conclusion, media, bankers and real estate brokers are now a cartel run by Bahria Town.  Everyone will get a plot, but due to open gambling money would keep rolling. Some conservative estimates suggests that there is a trading of over 2 trillion rupees on the BT forms and it still is in progress.

Those who criticized us on the first part “The Malik Riaz Effect” should know the consequence. Bahria town recovered all the money invested in the purchase of the plot. Now they are rolling the money invested by the people. It is black economy based purely on gambling. Bharia town has made real estate brokers billionaires and when the brokers become the investor, then market becomes niche. Bahria town would ensure unprecedented price hike of the real estate throughout Karachi, it would become impossible for the middle class to make a home.

See this is what happens when industry marries Gambling and I am sure no one would do anything about it.

Now it would be fair on the part of Mr. Malik Riaz, all of it would be fair and he would not have gotten any blame, only if he would not have done that meeting and pre-decided everything with the major real estate brokers of the city at Khayaban Itehad and this is the final fact.

PS: MR. Malik Riaz, Please consider our request made in the beginning of the article, or please purchase our cheap blog for a 500 sq yard Bahria home. We would still have respect for you.  

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17 thoughts on “The Golden God! Malik Riaz Effect Continues…

  1. Thats the worst part.. All of this that these real estate guys are doing has increased land value so much that now an average middle class person with a regular job can’t even think of buying a house.

  2. My comment I am speechless after reading this blog, a geat piece of writing this can only happen in Pakistan where such peaple do fraud with dignity and government protection. Once again thanku Hassam for keeping us welinformed

    • It happen where industry is not regulated and laws are week or not enforceable.
      It is greed at work which if not curtail create such games. It happened in London and NY for best part of last decade.
      After the financial crisis minister calls it Casino Banking. It results into unfair distribution of wealth precisely what happen in developed world and many other part of the world including Pakistan.
      It is a sad state of affair.

  3. What is wrong with you? Why can’t you give any proof for whatever you are saying. Following is a summary of this blog. All readers who find this blog ‘informative’, please do read till the end.

    Para 1: Personal views. No facts.
    Para 2: Personal views. No facts.
    Para 3: Personal views. No facts. Btw it’s spelled RATIONAL. ‘Rationale’ is a noun.
    Para 4: One line.
    Para 5: Brokers are making money by selling parchis. How is BT involved? “Then how Mr. Malik Riaz is doing it.” You suddenly just slip in his name instead of ‘brokers’.

    Para 6: BT advertising. Media got paid for advertising a legal business. You can start a shampoo factory and air an ad to call it the ‘best’. Grow up. What is “Black market economy?”

    Para 7: Assuming the fig of 28000 acres is correct, do you know EXACTLY (with proof) how many forms of each designation were sold and that they would ALL fit in this area? I mean not just in your head, I mean MATHEMATICALLY.

    Para 8: Personal views. No facts. See comment of Para 6.

    Para 9: Personal views. No facts. Who says there is land for all applicants? And what ‘gambling’ do you refer to? People want to buy Bahria land, so they have bought forms. Those forms are being resold due to demand, where’s the gambling?

    Para 10: Again conjecture, this time about banks. In Pakistan traders hoard sugar, wheat, cement, you name it. Bankers hoarded forms. They are very bad people. How is Malik Riaz involved?

    Para 11: See comment on para 10.

    Para 12: “Third fact, there won’t be any balloting.” Proof my friend PROOF…..

    Para 13: Author claims that prices of plots are dependent on number of forms sold. This discussion must have taken place in Malik Riaz’s office. How on God’s earth did you get these details, please enlighten us!

    Para 14: Residential plots had a down payment of around 10% and commercial of 20%. People who bought 3-4 forms were idiots. How much did you want the down payment to be, 20 rupees per plot?

    Para 15: Again the parchi trade. Yes it happened, it was unfortunate. How is BT involved? People bought forms, sold them to brokers, brokers sold further for profit. Where is Malik Riaz in the picture?

    Para 16: There is an official book with form prices? Where is this book? Have you seen it? PROOF!

    Para 17: A conclusion based on claims that are either unsubstantiated or just silly.

    Para 18: “Bahria town recovered all the money invested in the purchase of the plot.” Your claims
    1.) BT made 4.5 billion rupees from forms
    2.) They have 28000 acres of land.
    Does 28K acre land cost 4.5 bil in Karachi?

    Para 19: One line. Personal comment.

    Para 20: A meeting in Khayaban Itehad? This sounds interesting, too bad it comes only in the end with no substantiation (surprise!).

    You are probably 20-something, if not a teenager. There are adults who are investing their savings in this initiative. I am not saying everything is perfect, but please provide proof and substantiate any negative or positive claims that you make.

    • sir
      I guess u shoud do a little bit of research your self… is it not a fact that prachis were being purchased in . 3 million havent u seen the ads in real estate papers or should i give u sum , secondly i never said that 4.5 billio is the cost of 28k acres but that is the estimated amount that was gained … I just pose one question if u have purchased a form, it is written on the back that booking forms will be mailed at home … but they were not mailed y ,
      why was the actual area of land not disclosed ? why are they giving periodical discounts … just to manipulate market and nothing else … btw .. I am not 20 something try googling me b4 commenting i dont know on the other hand that y r u denying facts …do u even live in this city
      for proofs, lets see if we have balloting or not
      lets see what will the b actual area of land … time will tell

    • see this is how BT is involved … This could have been easily possible if BT would have announced the number of plots… and would have given a chance to ballot on those plots … but it did not happen, what happened was sheer encouragement to Satta and nothing else ….
      have you been to Bharia town office … the forms were being sold outside the office in black … just outside the office …if BT is such a reputable name … it should have announced that forms should be purchased only through BT offices or banks …
      IT is simple common sense but you lack it i gues

      • one more thing … why were the files given in an open name … should have been given to the person and the buying and selling should have been allowed only after balloting … but open files were given to encourage market manipulation … you cant give any reason otherwise

      • BT office k bahar chal raha tha 2 ka 5 2 ka 5 … tying going there … abhi bhi chal raha hai … such a prestigious name should discourage in publicly

  4. A well deserved take-down by Kamran above. Salute to you sir !!!

    Hassam Khan, who doesn’t have the writing skills to even capitalise his name, should simply stop blogging.

    “it would become impossible for the middle class to make a home”

    What a nonsensical statement! Go see if middle class people in Lahore and Islamabad are out on the streets. The truth is, people who would have been living in run down old sectors, driving up rents on limited real estate are today living in houses of FAR better quality. I live in Islamabad and have a lot of family in Rawalpindi and Lahore. They are all better off.

    A very very basic understanding of economics would tell you that when you increase the supply of anything, the price goes DOWN. But I’m sure you will get confused by this since the prices of files goes up. I will try and explain it like I would to a developmentally challenged 14 year old… undeveloped land = cheap … developed land = expensive. Many people from the old Islamabad sectors have moved to Bahria Town in Islamabad simply because they get BETTER quality housing at CHEAPER rents and prices. Like with any market there are ups and downs. Sometimes prices go down, like when they did after the last stock market crash in the Musharaf era, simply because many investors pull out money to recover liquidity and losses.

    By your logic, we should stop making good quality cars so that the “middle class” can all drive Suzuki mehrans. We should stop selling good quality shampoos so that the “middle class” can save money by washing their hair with life boy soap. We should shut down K&N’s chicken so that we can save the neighborhood butcher.

    Hassam Khan, you lack the understanding of basic economics, the writing skills, and the investigative ethics to be writing about these issues. Please go join a local religious party as a mullah so that at least you will fit in with the other misleading rabble-rousing idots who lack the education to lead our nation towards progress.

  5. I Think we should wait and see where the project will start as Karachi needs complete housing projects to reduce the burden of less quality and crammed housing projects where there would be flats and flats with no regards to recreation and other consideration. I would agree on parchi system being quite insane as it looks like a lottery ticket is provides gap for scams to be made !

  6. Dear Mr. Hassam Khan;

    I do respect your home work, logic and point of view in relation with

    – Purchi system.
    – Mis-commitment in delivering forms at home.
    – Making Registration open to promote unusual price hike .
    – Not owing the earlier said deadline of possession i.e. Dec2015 & now it is around 2018.
    – Making/Creating suspense every time related to timelines, location,prices & now balloting dates+ total area/applicants.

    BUT;

    – We should not blame BT as they are far better than all other developers; in regard of commitments and delivering with respect to quality & trust.(Their delivery rate is 100% and those living in B.T in different cities are also satisfied 100%).
    – In an environment like Pakistan if Mr.Malik is making some money OR even manipulating market for his own reasons BUT DELIVERING A QUALITY LIVING then i feel he should be given a reasonable margin and even praised as he AT LEAST DELIVERS (keeping in view his past project; please do not mention legal issues as we all know about our own systems).
    – Your home work is good and i feel you are 90% correct but your writing/thinking is bit biased as “END JUSTIFIES WHAT THE MEAN IS ” & iff everyone(M.R,B.T & BT residents) will be happy in Jan 2019 then i pray for Mr.Malik that he did a great job for Karachi and We will thank B.T & Mr.Malik for showing/delivering DUTY OF CARE for this city.

    • Thanks for comments n I agree to wat is being delivered but it cud haf been delivered without black marketing n gambling coz the consequences effect the entire market which is not fair plus wat about the tax free rolling of money how can keep a mun on black economics

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