The Ministry of Commerce and Industry affirmed that it will not be lenient in implementing the directives of the Custodian of the Two Holy Mosques regarding the liquidation of shareholdings and the restoration of shareholders\u2019 rights, and that it will be strict in enforcing those directives and in dealing with anyone who misappropriates shareholders\u2019 funds, emphasizing that anyone proven to have committed fraud, embezzlement, or obstructed the committee\u2019s work will be prosecuted.
\nThis was stated in a recent announcement issued after the Real Estate Contributions Committee, chaired by the Minister of Commerce and Industry, Dr. Tawfiq bin Fawzan Al-Rabiah, decided to hold a public auction for the sale of land in Makkah Al-Mukarramah belonging to Salah Al-Nafisi\u2019s contributions on the 24th of Dhu al-Qi\u2019dah corresponding to September 30, in the Palace Ballroom at the Hilton Jeddah Hotel. This is considered one of the most anticipated auctions due to the size of the investment and the number of shareholders, which exceeds 6,000.
\nThe committee explained that the public auction was held after the Real Estate Contributions Committee at the Ministry of Commerce and Industry assumed responsibility for liquidating Salah Al-Nafisi\u2019s contributions, following a directive from His Highness to the committee to that effect.
\nThe Makkah Land Contribution site is distinguished by its large area of approximately one million square meters. It is located within the boundaries of the Haram, about 12 kilometers from the Grand Mosque, and runs directly along the Makkah-Jeddah Expressway for a length of 800 meters, facilitating access and egress, as well as seamless integration with the infrastructure in the areas surrounding the project and municipal services.
\nIn addition, an approved zoning plan for residential and commercial use has been issued for the project site by the Holy Capital Municipality, which will increase competition among investors seeking to secure this investment opportunity.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> < 1<\/span> Minute<\/span><\/span>The Ministry of Commerce and Industry affirmed that it will not be lenient in implementing the directives of the Custodian of the Two Holy Mosques regarding the liquidation of shares and the restoration of shareholders\u2019 rights, and that it will be strict in enforcing those directives and in dealing with anyone who misappropriates shareholders\u2019 funds, stressing that anyone proven to have committed fraud, embezzlement, or obstructed the committee\u2019s work will face legal action. This was stated in a recent statement issued after it decided \u2026 Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[104],"tags":[],"class_list":["post-1028","post","type-post","status-publish","format-standard","hentry","category-legislation-and-regulations"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629<\/a>","tag_info":"\u0627\u0644\u062a\u0634\u0631\u064a\u0639\u0627\u062a \u0648\u0627\u0644\u0623\u0646\u0638\u0645\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=1028"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1028\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=1028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=1028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=1028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}