The accountability office reported that neither the national coffers nor PM Shehbaz received any financial gain from the initiative.
The anti-graft body declared in its report that "it is proved beyond any doubt that the treasury didn't suffer any loss."
In addition, it stated: "No evidence of misuse of powers was found against Shahbaz Sharif."
The NAB assessment found no evidence of malice against the prime minister in the affair.
The report also stated that Kamran Kayani, brother of former army chief Ashfaq Parvez Kayani, didn't harm the treasury either.
The investigation also revealed that Fawad Hasan Fawad, who at the time served as Shehbaz's secretary for implementation in Punjab, did not accept a bribe in exchange for the contract.
According to the report, PM Shehbaz forwarded the Ashiana matter to the anti-corruption body in accordance with the law.
The report came to the conclusion that "the accountability court should rule on Shehbaz Sharif's request for acquittal in accordance with the law."
It should be recalled that the prime minister has been cleared in two significant NAB cases against him.
The anti-graft body had earlier this month ruled Prime Minister Shehbaz, his son Hamza Shehbaz, and others "innocent" in relation to Rs7 billion in charges made against them for having assets beyond their means and money laundering.