Top City 1 Islamabad Ranger Raid has panicked investors
News about the opening ceremony of New Islamabad International Airport uplifted the stagnant real estate sector of Islamabad. Top City-1 Housing Society Islamabad was the most beneficial of this news where property prices increased by many folds. Short term investors earned high profits, but long term investors are now in panic due to two reasons. Firstly, Aviation authority has planned to acquire the land of Top City-1 for the expansion of Airport. Secondly, Pakistan Rangers have recently raided the Top City-1 office and also the house of CEO Moeez Kunwar, who has been arrested. According to various news sources, many wanted criminals have also been arrested. Some say that even NATO Weapons have been recovered from the criminals.
Moeez Kunwar has arrested due to many allegations. Firstly, according to rangers, Moeez Kunwar and other guards in society were arrested as they were involved in criminal activities in Karachi. Many hard core criminals had taken refuge in Top City-1. Secondly, Moeez Kunwar had transferred money to MQM Founder Altaf Hussain in London. Thirdly, UK based woman, Zahida Javed Aslam filed a complaint with Pakistan Rangers in December 2016. Zahida accused Moeez Kunwar of grabbing her land on gun point. Fourthly, Moeez Kunwar was involved in many cases of firing the villagers to grab their land illegally. This is important to note that this raid is a part of Operation Radd ul Fasaad.
Buyers and investors are now in great panic as they have only society letters and no money transactions in most cases. According to realtors, it’s not the fault of buyers, as many of such projects are always attractive for the people who have limited budget. Realtors are telling the buyers to register complains with the rangers and other development authorities to safe guard their investments.