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ADJD Settles 822 Execution Cases Worth Dh702M in Wahat Al Zaweya Dispute

The resolution was achieved through the dedicated efforts of a special judicial body

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Staff Writer, TLR

Published on May 28, 2024, 13:13:29

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abu dhabi judicial department settles execution cases, wahat al zaweya dispute

The Abu Dhabi Judicial Department (ADJD) has successfully settled 822 execution cases related to lawsuits filed by buyers of the Wahat Al Zaweya Project, amounting to Dh702 million in refunds.

This comprehensive resolution was achieved through the dedicated efforts of a judicial body specifically tasked with handling disputes related to the project. This body was established by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Judicial Department in Abu Dhabi, with the mandate to safeguard claimants' funds and ensure proper execution guarantees.

The special judicial body facilitated the settlement by issuing final rulings to terminate the contracts, deposit the refund amounts into buyers' bank accounts and close the execution files.

Additionally, the judicial body is progressing with the second phase of settlements for 630 buyers with pending lawsuits, offering them the option to continue with the project under current real estate market conditions.

The second phase aims to resolve all remaining disputes, ensuring claimants receive their rights and allowing them to decide whether to continue based on updated market information before finalising the lawsuits, ultimately closing the Wahat Al Zaweya Project file.

The judicial body has also moved forward with resuming the project, following a proposal from the company's board of directors to resolve legal issues by year-end.

The project development will be carried out by authorised contractors, with properties handed over to their rightful owners within timelines ranging from one to three years, depending on the segment location within the project.

The company has pledged to deposit all collected amounts into an escrow account and not disburse any funds until receiving a completion certificate from the relevant authority, ensuring disbursements are proportional to the project's progress.

Furthermore, the company has committed to timely payments of initial installments and provided legal assurances to complete the project as agreed with buyers who have not filed claims, as well as to settle with claimants who wish to proceed with the project. 

For any enquiries or information, contact ask@tlr.ae or call us on +971 52 644 3004Follow The Law Reporters on WhatsApp Channels.

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