ADJD Successfully Settles Disputes In Wahat Al Zaweya And Wahat Yas Real Estate Projects

The Abu Dhabi Judicial Department (ADJD) has finalised settlements for disputes involving the Wahat Al Zaweya and Wahat Yas real estate projects. Nearly one billion dirhams were distributed to beneficiaries, showcasing the department's dedication to improving judicial efficiency and ensuring rights through transparent processes. This initiative underscores ADJD's commitment to fostering trust in Abu Dhabi's investment landscape.

The judicial committee addressed all lawsuits against Wahat Al Zaweya Investment and Real Estate Development Company, totalling 1,348 cases. Beneficiaries received AED983,721,217 in financial entitlements. A significant settlement involved a bank's claim against the company, resulting in a debt rescheduling agreement of AED360 million. These actions aim to stabilise related real estate transactions.

For the Wahat Yas project, a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over land at Al Raha Beach was resolved. The committee concluded 53 lawsuits and enforcement files related to this matter. This resolution is part of broader efforts to enhance confidence in Abu Dhabi’s real estate sector.

Construction at Wahat Al Zaweya is set to resume following approved procedures by the Abu Dhabi Real Estate Centre. The project is divided into 14 phases, with the requirement that all purchase payments be deposited into an escrow account under the centre's supervision. This step ensures transparency and accountability in financial transactions.

Across both projects, the dispute resolution process included issuing 1,043 settlement reports and executing 1,237 disbursement transactions. Additionally, 85 meetings were held, and 167 correspondences with partners were documented. These organised efforts highlight ADJD’s role in providing effective solutions for real estate disputes.

The comprehensive approach taken by ADJD reflects its ongoing commitment to enhancing judicial processes in Abu Dhabi. By resolving these disputes efficiently, the department strengthens investor confidence and supports stability within the real estate market.

With inputs from WAM