five stalled real estate projects reffered to the Judicial Committee for the Settlement

five stalled real estate projects reffered to the Judicial Committee for the Settlement

The Ministerial Committee for Development and Infrastructure Projects said it has referred five real estate projects built prior to the issuance of the regulation of the real estate sector law 27 of 2017 to the Judicial Committee for the Settlement of Stalled Real Estate Projects. Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister and head of the ministerial committee, said that the decision was taken in a virtual meeting after the ministerial committee reviewed the projects of Breeze Seef, Marina Breeze 1 and 2, Dar Al Ezz 2 and 3, Marina Reef, and Al Areen Homes. The projects were referred by the Cabinet in early May to the committee through an inventory of obligations and rights, and access to all data, information, relevant documents. “It became clear to the Ministerial Committee that in the Marina Reef project, whose units were sold off-plan in conjunction with the start of its construction in 2007, the units were not delivered to their owners at the specified time,” Shaikh Khalid said. As for the other projects, the units were sold off-plan before the issuance of law 27 / 2017, and the buyers fulfilled part or all of their financial obligations to the developers.