Dividends of Al-Ariydh, Taqniya Plots, Deposited

07 Nov 2012
​Real Estate Schemes' Committee of the Ministry of Commerce and Industry (MCI) began depositing dividends for the subscribers of Al-Ariydh plot scheme, in Riyadh, in their bank accounts, for the whole capital as well as the profits, at about 246.7%. It also started dispensing the residue of Al-Taqniyah plot's, which constitutes 55% of the capital, however, the dividends would only, be disbursed following the selling of the remained 6 lots, within the plot.
Secretary general of the committee Hamza bin Abdulaziz Al-Askar, reaffirmed the committee's keenness to finish all cases related to real estates disputed schemes, as it has already, embarked on liquidating some of them, and is studying, for the time being, how to end others, to lay the ground for completing legal procedures, in order to sell them and reclaim the subscribers' over-dues, as soon as possible, in line with the direction and close follow up of the Minister of Commerce and Industry Dr. TAWFIG FAWZAN ALRABIAH, who is also the Chairman of the committee.
The committee called on those subscribers, who are yet to update their data, to pass by any branch of Al-Bilad Bank, with expedite, holding their IDs and their subscription documents, and to make sure of their IBAN, in order that their dues would be deposited, as soon as possible.
The Committee has managed to sell all lots at Al-'Ariydh scheme at a total value of SR 332 million for 745 subscribers, resulting in reclaiming their over-dues, after years.
Real estate committee has liquidated a number of stalled schemes and managed also, to sell the biggest lot at Ardh Al-Taqniya plot, giving to the Eastern Ring Road in Riyadh, for more than SR 48 million, and began dispensing of a residue capital estimated at 55%,  for 782 other subscribers, thus they reclaimed, too, their dues, while they wait, similarly, for their dividends to be transferred to their banking accounts, following the completion of selling of remained lots, as direct profits of subscribers, a fact that would put an end to the last file before the committee, for good.
The committee is advocating interests of the citizens implicated in real estate schemes, as their sponsors failed, through years to liquidate them, regardless of the difficulties and obstacles, it faces, ahead which is the non-cooperation of these stalled schemes sponsors. 
Last Modified 25 Dec 2018