The Committee for the Settlement of Stalled Real Estate Development Projects has received a number of delayed developments belonging to Bin Faqeeh Real Estate Investment Company from the Ministerial Committee for Development and Infrastructure Projects, in preparation for initiating the legal procedures required to address their status.
The committee said it convened immediately upon receiving the case files and issued protective measures covering the referred developments to safeguard the rights of creditors and stakeholders.
It added that the step aims to assess the condition of the developments and take the necessary legal and administrative action.
The next phase will focus on identifying the causes of delay and adopting solutions that ensure a balanced outcome for all parties.
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