The Real Estate Shareholding Commission Declares that there are nine (9) Stumbled Shareholdings, the Addresses of their Owners could not be Reached

12 May 2014
The owners of such shareholdings are kindly requested to communicate with the said commission in order to avoid prevention of travel, stopping of services and arrest

The MCI Real Estate Shareholding Commission called on the owners of the nine (9) stumbled real estate shareholdings whose addresses could not be reached or there were no responses from their part, to communicate directly with the said commission to start the liquidation process.

 The commission called the owners of the shareholdings to respond quickly in order to avoid the inclusion of their names in the Travel Ban List and Stopping the Service. This is in accordance with Section II of the Council of Ministers Decree No. (48) dated 14/02/1430 AH, which states that if the owner of the shareholding does not respond with the commission within thirty days, he will be included on the Travel Ban List, and Stop the Services List, if he does not respond within two months, he will be included in the Arrest List and to be brought to the Commission in accordance with the established procedures.

The Commission included the names of ten (10) of the stumbled shareholding owners on the list of " Banned from Traveling " while the services were suspended for 42 shareholding owners by issuing decrees for  " Stopping the Services "   while 23 persons who did not cooperate  with the Commission were included on the list of "Arrest " to be brought to the Commission in according with the established procedures.

The Commission announced the names of the shareholdings whose owners could not be reached or their owners were non- responsive as follows: (South Exhibitions, owned by " Jarash for  Trading " - Al Mozainy Home  owned by the Est." Al Mozainy Home for Trading " - North Olaya "  owned by Al Shehri Office for Real Estate" - North Olaya for " Abha Est. " - North Airport Fence for "Al Mozainy Home  " - land of Al Mugharazat " for Al Janoubi and Al Fowzan Est. " - the land located east of the exhibitions  for  " Mohammed Abdullah al-Shaalan Est." - the land of Sulaiman Al Obaidan for the Office of " Sulaiman Saleh Al Obaidan " - the land of Hijaz Road for the Est. " Gulf Flower for Real Estate " ) .

It is worth mentioning that the Commission was able to reduce the number of the shareholdings whose addresses were not known,  from 62  to 9 nine shareholdings, where necessary cooperation had been done with those in charge of the shareholdings and a systematic mechanism had  been reached as well  to liquidate the said shareholdings.  
Last Modified 26 Dec 2018