The Real Estate Contributions Committee revealed in a statement issued yesterday by the Ministry of Commerce and Investment that the liquidation of six contributions in Dammam located within Saudi Aramco’s seized properties falls outside the Committee’s jurisdictional authority, The statement noted that the joint ventures in question are Golden Gate, Dammam Industrial, Namaa, Abu Hadriya Land, Jawahir Al-Nimr, and Dammam Industrial Land.

According to the statement, if contributions fall outside the jurisdiction of the Contributions Committee, contributors have the right to file a claim with the judicial division specializing in real estate contribution cases at the General Court in Riyadh to assert their rights against those who contributed with them, and to seek recourse against those who sold to them, noting that “the matter is governed by what is determined in accordance with Islamic law and has become final” in accordance with Royal Decree No. 41182 dated 9-9-1433 AH.

In its statement, the Committee said that over the past few years it had made significant efforts to protect the rights of shareholders, culminating in the issuance of Cabinet Decision No. 297 on 13-7-14354 AH, which mandated the allocation of a sufficient number of judges to expedite the adjudication of cases related to the aforementioned real estate contribution lands. Subsequently, Decision No. 12008 of the President of the Supreme Judicial Council, dated April 24,-1437 AH, which ordered the formation of a judicial division within the General Court in Riyadh with jurisdiction over cases related to real estate joint ventures.

With this announcement, the six contributions become a clearly defined legal claim with a plaintiff and a defendant, in which the contributors assert to the original contributor that the land subject to the contribution is encumbered or disputed, based on the grounds explained by.