The Real Estate Contributions Committee “Liquidation” Completes Procedures for 44 Contributions and Disburses 1.404 Billion Riyals

Liquidation of the Real Estate Contributions Committee

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The value of the financial rights paid out by Real Estate Contribution Committee “Liquidation” in 2021 amounted to approximately 1.404 billion riyals, following the completion of the liquidation of 44 real estate contributions for the benefit of (4,533) contributors. The Committee issued (409) decisions during (48) meetings and sold (2,285,083) square meters of real estate contribution land in various regions of the Kingdom for more than (259,466,760) riyals.

These achievements for the year 2021 were realized after the Committee carried out its legal, financial, marketing, engineering, and other duties; On the legal front, the Committee prepared (355) legal studies and secured (117) rulings in favor of shareholders, and obtained (19) enforcement orders worth (186,827,035) riyals representing shareholders" rights. Additionally, (34) enforcement orders were issued against the owners of certain real estate holdings, As for marketing, the total area sold in 2021 amounted to 2,285,083 square meters, valued at 278,926,767 riyals, On the engineering front, the committee completed (4) survey reports in addition to (3) engineering reports related to real estate contributions.

It is worth noting that the Committee has successfully concluded (491) real estate contributions and sold more than (52) million square meters of contribution land, and recovered more than (11,352,274,358) riyals, benefiting more than (40,605) contributors since its formation, affirming its commitment to continuing to finalize all real estate contributions falling within its jurisdiction.