The Abu Dhabi Judicial Department completed a comprehensive settlement of 822 executive files in the lawsuits registered by buyers in the Wahat Al Zawiya real estate project, after final court rulings were issued obligating the return of deposited amounts with a total value of 702 million dirhams..
This comprehensive settlement came as a culmination of the efforts made by the special judicial body to resolve disputes related to the Wahat Al Zaweya project, which was formed by a decision of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the State, Deputy Prime Minister, Head of the Presidential Court, and Head of the Abu Dhabi Judicial Department. With the aim of taking the necessary precautionary measures and measures to preserve the plaintiffs’ funds until the debt is paid, while achieving sufficient guarantees for implementation..
The judicial body for the Wahat Al-Zawiya project completed the settlement of the execution files registered by buyers, after issuing final rulings to cancel the contracts concluded with them, deposit the settlement amounts in their bank accounts, and permanently save the execution files in those lawsuits, while the body works to complete the second phase of the settlement with The 630 buyers who had previously registered claims before the beginning of the first phase of the settlement were given the option to continue with the project after it was re-launched in accordance with the current real estate market conditions..
The second phase begins with the aim of ending all ongoing lawsuits with settlements that ensure that the plaintiffs obtain their rights while giving them the option to continue as a legal right while verifying the extent of their desire to benefit from it according to real estate market data before completing the consideration of the lawsuits, leading to the completion and closure of the Wahat Al-Zawiya project file..
The judicial authority continued to relaunch the project, whose implementation had been halted, after the company’s board of directors presented a plan to pay the judicial claims before the end of this year, and a plan to complete implementation through approved contractors, to deliver the properties to their owners within dates extending from one to three years, according to the website. The property is within the ten sections of the project, with a commitment to deposit all collected amounts in the escrow account and not to disburse any amount of it except after obtaining a certificate from the competent authority regarding the completion rate of the works, provided that any disbursement is proportional to the progress of the completed works..
The company committed to paying the first payments on time, and also provided a judicial commitment to complete the project according to the conditions previously specified with the buyers who did not file claims, in addition to settling with the owners of current claims who wish to continue the project..
#Abu #Dhabi #Judiciary #completes #executive #files #Wahat #Zawiya #project #lawsuits #worth #million #dirhams