emirates7 - The Abu Dhabi Judicial Department (ADJD) has successfully finalized a comprehensive resolution of all disputes concerning the Wahat Al Zaweya and Wahat Yas real estate projects, distributing nearly one billion dirhams in financial claims to the rightful beneficiaries.
This achievement aligns with the department’s continuous efforts to improve judicial system efficiency and protect rights through fair and transparent settlement processes.
Specifically, the judicial committee closed all lawsuits and enforcement cases against Wahat Al Zaweya Investment and Real Estate Development Company, totaling 1,348 cases. Financial entitlements amounting to AED 983,721,217 were paid out to beneficiaries.
Among the key settlements for the Wahat Al Zaweya project was resolving a significant case brought by a bank against the company, leading to a debt rescheduling agreement worth AED 360 million.
Furthermore, negotiations with multiple buyers resulted in agreements to maintain existing contracts, helping ensure stability in related real estate dealings.
These agreements facilitated the restart of construction work at Wahat Al Zaweya, following procedures approved by the Abu Dhabi Real Estate Centre.
The project is divided into 14 phases, with the company now required to deposit all purchase payments into an escrow account managed by the centre.
Regarding Wahat Yas, the judicial committee settled a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a land plot in the Al Raha Beach area. All related lawsuits and enforcement cases—53 in total—were also resolved.
Across both projects, the dispute settlement process included issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and recording 167 correspondences with partners. These systematic and comprehensive efforts demonstrate the Judicial Department’s dedication to providing effective solutions that enhance trust in Abu Dhabi’s investment and real estate sectors.
This achievement aligns with the department’s continuous efforts to improve judicial system efficiency and protect rights through fair and transparent settlement processes.
Specifically, the judicial committee closed all lawsuits and enforcement cases against Wahat Al Zaweya Investment and Real Estate Development Company, totaling 1,348 cases. Financial entitlements amounting to AED 983,721,217 were paid out to beneficiaries.
Among the key settlements for the Wahat Al Zaweya project was resolving a significant case brought by a bank against the company, leading to a debt rescheduling agreement worth AED 360 million.
Furthermore, negotiations with multiple buyers resulted in agreements to maintain existing contracts, helping ensure stability in related real estate dealings.
These agreements facilitated the restart of construction work at Wahat Al Zaweya, following procedures approved by the Abu Dhabi Real Estate Centre.
The project is divided into 14 phases, with the company now required to deposit all purchase payments into an escrow account managed by the centre.
Regarding Wahat Yas, the judicial committee settled a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a land plot in the Al Raha Beach area. All related lawsuits and enforcement cases—53 in total—were also resolved.
Across both projects, the dispute settlement process included issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and recording 167 correspondences with partners. These systematic and comprehensive efforts demonstrate the Judicial Department’s dedication to providing effective solutions that enhance trust in Abu Dhabi’s investment and real estate sectors.