NAB Launches Inquiry into Golden Palms Gwadar; Affected Investors Asked to Submit Complaints
By Muhammad Anique Butt3 min read
GWADAR: The National Accountability Bureau (NAB),Balochistan, has launched an inquiry into the owners and management of Hashoo Group, operators of the Golden Palms Gwadar project, over allegations of cheating members of the public in connection with real estate investments.
In a public notice issued by its Sub-Office Gwadar, NAB said the inquiry concerns allegations that investors were dishonestly induced to part with their hard-earned money in connection with the housing project.
The anti-graft watchdog has invited affected investors and alleged victims to formally submit their complaints along with supporting documents within 30 days of the publication of the notice.
According to NAB, complainants are required to submit a duly signed application addressed to the Director General along with the complete file relating to their allotted plot or project, a copy of their CNIC, a sworn affidavit and relevant documentary evidence, including payment receipts, cheques, contracts and terms and conditions.
The notice states that individuals who have already submitted complaints concerning the matter are not required to file them again. NAB has also urged affected investors to inform other potential complainants to facilitate the inquiry.
A Two-Decade-Old Dispute
The development comes against the backdrop of a long-running dispute surrounding Golden Palms Gwadar, a large-scale residential and commercial project associated with Hashoo Group.
The project was marketed as a major development in Gwadar, with investors attracted by the city’s anticipated economic transformation and its strategic importance under the China-Pakistan Economic Corridor (CPEC).
However, affected investors have for years raised concerns over delays, development, possession, regulatory approvals and the fulfilment of commitments made at the time of investment.
Many investors claim that despite having entered into written agreements and making substantial payments, they have remained unable to obtain the benefits they expected from their investments.
The dispute has consequently developed into a significant investor grievance, with affected allottees seeking either delivery of their promised properties or the return of their invested funds.
NAB Inquiry Brings New Legal Dimension
The latest NAB notice gives the matter a new institutional dimension by formally inviting evidence from individuals who claim to have been affected.
The inquiry will allow NAB to collect complaints and supporting documentation from investors and examine the allegations made against the project’s owners and management.
The notice specifically identifies the allegations as involving the dishonest inducement of members of the public to part with their money. These remain allegations subject to the inquiry and any subsequent legal proceedings.
For investors who have waited for years for a resolution, however, the announcement represents a significant development.
Investors Await Resolution
The Golden Palms dispute has become emblematic of the concerns surrounding stalled real estate projects in Gwadar, where investors have frequently placed their expectations on the city’s projected economic and infrastructural growth.
Affected investors now face an important opportunity to place their individual cases before NAB with documentary evidence.
The bureau has directed complainants to submit their applications and supporting documents to its Sub-Office Gwadar, Office No. G-10, Zirbaar Building, GPA Commercial Complex-1, Gwadar Port, Gwadar, or through the email address specified in the official notice.
With the inquiry now underway, affected investors will be watching closely to see whether the process can finally provide clarity and accountability in a dispute that has continued for years.
The Hashoo Group’s position on the allegations was not included in the NAB public notice. The allegations should therefore be treated as allegations unless and until established through the relevant legal process.
In a public notice issued by its Sub-Office Gwadar, NAB said the inquiry concerns allegations that investors were dishonestly induced to part with their hard-earned money in connection with the housing project.
The anti-graft watchdog has invited affected investors and alleged victims to formally submit their complaints along with supporting documents within 30 days of the publication of the notice.
According to NAB, complainants are required to submit a duly signed application addressed to the Director General along with the complete file relating to their allotted plot or project, a copy of their CNIC, a sworn affidavit and relevant documentary evidence, including payment receipts, cheques, contracts and terms and conditions.
The notice states that individuals who have already submitted complaints concerning the matter are not required to file them again. NAB has also urged affected investors to inform other potential complainants to facilitate the inquiry.
A Two-Decade-Old Dispute
The development comes against the backdrop of a long-running dispute surrounding Golden Palms Gwadar, a large-scale residential and commercial project associated with Hashoo Group.
The project was marketed as a major development in Gwadar, with investors attracted by the city’s anticipated economic transformation and its strategic importance under the China-Pakistan Economic Corridor (CPEC).
However, affected investors have for years raised concerns over delays, development, possession, regulatory approvals and the fulfilment of commitments made at the time of investment.
Many investors claim that despite having entered into written agreements and making substantial payments, they have remained unable to obtain the benefits they expected from their investments.
The dispute has consequently developed into a significant investor grievance, with affected allottees seeking either delivery of their promised properties or the return of their invested funds.
NAB Inquiry Brings New Legal Dimension
The latest NAB notice gives the matter a new institutional dimension by formally inviting evidence from individuals who claim to have been affected.
The inquiry will allow NAB to collect complaints and supporting documentation from investors and examine the allegations made against the project’s owners and management.
The notice specifically identifies the allegations as involving the dishonest inducement of members of the public to part with their money. These remain allegations subject to the inquiry and any subsequent legal proceedings.
For investors who have waited for years for a resolution, however, the announcement represents a significant development.
Investors Await Resolution
The Golden Palms dispute has become emblematic of the concerns surrounding stalled real estate projects in Gwadar, where investors have frequently placed their expectations on the city’s projected economic and infrastructural growth.
Affected investors now face an important opportunity to place their individual cases before NAB with documentary evidence.
The bureau has directed complainants to submit their applications and supporting documents to its Sub-Office Gwadar, Office No. G-10, Zirbaar Building, GPA Commercial Complex-1, Gwadar Port, Gwadar, or through the email address specified in the official notice.
With the inquiry now underway, affected investors will be watching closely to see whether the process can finally provide clarity and accountability in a dispute that has continued for years.
The Hashoo Group’s position on the allegations was not included in the NAB public notice. The allegations should therefore be treated as allegations unless and until established through the relevant legal process.
