The Real Estate Shareholding Commission Calls on all the Shareholders of Al Harrah Eastern Land to Update their Data in Preparation for the Payment of their Rights

31 Mar 2014
​MCI Real Estate Shareholding Commission called on all the shareholders of Al Harrah Eastern Land belonging to Al Suwaidani Company for Real Estate development and investment to update their data  and to hand over the official documents that prove their right in the shareholding to the nearest branch of Al Bilad Bank in various cities in the Kingdom as a prelusion to the liquidation of the shareholding by what is collected of the shareholders' funds.
The said commission considered this as a final announcement and it would be free from any responsibility in case of any delay over sixty days by the shareholders starting from the date of this announcement. The said commission addressed all the shareholders to fill the data on the website of Al Bilad Bank ( ) , or visit the website of the said commission on the link (  ) . For any queries you can call the Standard Bank No.  800 123 6666.
The Commission explained that it had been working for selling the lands of the stumbled real estate shareholdings after finishing the legal and accounting procedures related to these shareholdings through direct sale or by auctions in preparation for closing the file of any stumbled shareholding and to refund the affected shareholders.
It is noteworthy that the Commission has called on all the shareholders of Mut`eb Al Muqbil subsidiary company of Mut`eb bin Abdul Aziz Al Muqbil and his partner for real estate investment earlier this month to update their data, by delivering the official documents that prove their rights in the shareholding to the nearest branch of the Arab National Bank.
In a related context, the Commission continues to transfer the funds of the shareholders of Salah Al-Nafisi ( Kingdom Dates ) and Rubu`a Mecca ( Al-Hammad 3) through the Arab National Bank, where the due amounts for more than three thousand shareholders had been transferred directly into their accounts  after the completion of the necessary procedures by the Chartered Accountants. 
The total paid in the shareholding of Al Nafisi and Rubu`a Mecca until last Thursday reached about SR 623 million riyals, representing 23% of the equity in the two shareholdings amounting to more than two billion riyals, where SR 391 million riyals were paid from ( Kingdom Dates ) , and SR 232 million riyals from the shareholding of Rubu`a Mecca, payment would be completed gradually for the shareholders in the coming weeks in both shareholdings.
Last Modified 26 Dec 2018