Latest news with #WahatAlZaweya
Arabian Business
3 days ago
- Business
- Arabian Business
Abu Dhabi real estate disputes end in $268m settlement
Abu Dhabi authorities have settled real estate disputes after handing out $268m settlements. The Abu Dhabi Judicial Department (ADJD) has successfully completed a comprehensive settlement of all disputes related to the Wahat Al Zaweya and Wahat Yas real estate projects, disbursing nearly one billion dirhams in financial entitlements to beneficiaries. This is part of the department's ongoing efforts to enhance the efficiency of the judicial system and uphold rights through fair and transparent settlement mechanisms. Abu Dhabi real estate disputes The judicial committee concluded a total of 1,348 lawsuits and enforcement files submitted against Wahat Al Zaweya Investment and Real Estate Development Company. Financial entitlements amounting to AED983,721,217 ($268m) were disbursed to beneficiaries. Key settlements in Wahat Al Zaweya project included resolving a major file submitted by a bank against the company, which resulted in an agreement to reschedule a debt of AED360m ($98m). Additionally, negotiations with several buyers led to agreements to continue existing contracts, supporting stability in related real estate transactions. These settlements and communications paved the way for the resumption of construction works at Wahat Al Zaweya, in accordance with procedures approved by the Abu Dhabi Real Estate Centre. The project has been divided into 14 phases, and the company is now required to deposit all purchase payments into an escrow account supervised by the centre. For Wahat Yas, the judicial committee resolved a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a plot of land in Al Raha Beach area. All related lawsuits and enforcement files, 53 in total, were also concluded. Across both projects, the dispute resolution process involved issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and documenting 167 correspondences with partners. These organised and thorough procedures reflect the Judicial Department's commitment to delivering effective solutions that strengthen confidence in Abu Dhabi's investment and real estate environment.
Al Etihad
3 days ago
- Business
- Al Etihad
ADJD ends disputes in Wahat Al Zaweya, Wahat Yas real estate projects
2 June 2025 12:25 ABU DHABI (WAM) The Abu Dhabi Judicial Department (ADJD) has successfully completed a comprehensive settlement of all disputes related to the Wahat Al Zaweya and Wahat Yas real estate projects, disbursing nearly one billion dirhams in financial entitlements to is part of the department's ongoing efforts to enhance the efficiency of the judicial system and uphold rights through fair and transparent settlement detail, the judicial committee concluded all lawsuits and enforcement files submitted against Wahat Al Zaweya Investment and Real Estate Development Company, totalling 1,348 cases. Financial entitlements amounting to Dh983,721,217 were disbursed to settlements in Wahat Al Zaweya project included resolving a major file submitted by a bank against the company, which resulted in an agreement to reschedule a debt of Dh360 negotiations with several buyers led to agreements to continue existing contracts, supporting stability in related real estate settlements and communications paved the way for the resumption of construction works at Wahat Al Zaweya, in accordance with procedures approved by the Abu Dhabi Real Estate project has been divided into 14 phases, and the company is now required to deposit all purchase payments into an escrow account supervised by the Wahat Yas, the judicial committee resolved a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a plot of land in Al Raha Beach related lawsuits and enforcement files—53 in total—were also both projects, the dispute resolution process involved issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and documenting 167 correspondences with partners. These organised and thorough procedures reflect the Judicial Department's commitment to delivering effective solutions that strengthen confidence in Abu Dhabi's investment and real estate environment.
Khaleej Times
3 days ago
- Business
- Khaleej Times
Abu Dhabi: Dh1-billion settlement resolves dispute between developers
Abu Dhabi's court settled a dispute between two major developers, Wahat Al Zaweya and Wahat Yas real estate project, the Abu Dhabi Judicial Department announced Monday. The authority disbursed nearly Dh1 billion in financial entitlements to beneficiaries. In detail, the judicial committee concluded all lawsuits and enforcement files submitted against Wahat Al Zaweya Investment and Real Estate Development Company, totaling 1,348 cases. Financial entitlements amounting to Dh983,721,217 were disbursed to beneficiaries. Key settlements in Wahat Al Zaweya project included resolving a major file submitted by a bank against the company, which resulted in an agreement to reschedule a debt of Dh360 million. Additionally, negotiations with several buyers led to agreements to continue existing contracts, supporting stability in related real estate transactions. These settlements and communications paved the way for the resumption of construction works at Wahat Al Zaweya, in accordance with procedures approved by the Abu Dhabi Real Estate Centre. The project has been divided into 14 phases, and the company is now required to deposit all purchase payments into an escrow account supervised by the centre. As for Wahat Yas, the judicial committee resolved a dispute between Wahat Yas Real Estate Development Company and Wahat Al Zaweya Investment and Development Company over a plot of land in Al Raha Beach area. All related lawsuits and enforcement files — 53 in total — were also concluded. Across both projects, the dispute resolution process involved issuing 1,043 settlement reports, executing 1,237 disbursement transactions, holding 85 meetings, and documenting 167 correspondences with partners.
Arabian Post
28-04-2025
- Business
- Arabian Post
Promises Renewed as Arabian Hills Estate Rises Over Abandoned Emirati Project
A new chapter is unfolding in the heart of the UAE's real estate landscape as Arabian Hills Estate emerges to replace a once highly anticipated but ultimately undelivered development initially sold by Wahat Al Zaweya Holding PJSC. Positioned near Al Ain, on land just across the Abu Dhabi border, this expansive community of villa and mansion plots is being marketed as a symbol of luxury and renewal, aiming to repair the reputational damage left behind by its predecessor. Arabian Hills Estate was formally launched last year and is being promoted with ambitious promises: lush gardens, a crystal-clear swimmable lagoon, an equestrian centre, high-end shopping malls, world-class resorts, and what the developers describe as 'extraordinary experiences right on your doorstep'. Plot sizes vary dramatically, ranging from 12,000 to 132,000 square feet, and sales material sets a proposed completion window between February and March 2027, extending to the fourth quarter of that year for some sections. The collapse of the earlier project under Wahat Al Zaweya Holding PJSC continues to cast a long shadow over the launch of Arabian Hills Estate. Originally marketed exclusively to Emirati nationals, the earlier development saw significant investor interest, with many customers paying large sums upfront, only to be left without properties delivered. Disillusioned investors pursued litigation in a bid to recover their money, with mixed outcomes. Some succeeded through court orders or negotiated settlements, while others still cling to the hope that the new project will honour their original investments. The company behind Arabian Hills Estate, largely separate from Wahat Al Zaweya's original corporate structure, has framed its offering as a fresh opportunity rather than a continuation of past mistakes. While both projects are geographically linked, representatives of the new estate emphasise that they have different leadership and management structures, although direct ties in terms of land ownership and prior customer relations remain murky. Real estate agents have seized on the marketing narrative, with some branding Arabian Hills Estate as the 'Beverly Hills of Dubai' — despite its actual location within the Al Ain region of Abu Dhabi emirate. Industry analysts point to the branding as an intentional strategy to leverage Dubai's internationally recognised image of glamour and high-end living, even if the project's site technically lies outside its municipal boundaries. Legal experts monitoring the fallout from the Wahat Al Zaweya episode warn that prospective buyers should exercise caution. According to real estate attorney Feras Al Sadek, 'The new project may seem attractive, but buyers need to thoroughly understand the legal distinctions between the old development and Arabian Hills Estate. Due diligence is more important than ever when previous claims on the land still exist.' Al Sadek noted that although Arabian Hills Estate is a new entity on paper, historical entanglements could complicate ownership rights if not fully resolved. For its part, Arabian Hills Estate's promotional materials assert that all land titles are clear and that the project is backed by escrow accounts regulated under UAE real estate laws to ensure better protection for investors. The developer's spokesperson confirmed that the plots are being sold under updated frameworks in compliance with recent Abu Dhabi real estate regulations aimed at safeguarding off-plan buyers. Market response has been cautiously optimistic, particularly among end-users and investors looking for early-mover advantage into what is still a developing suburban luxury market. Prices for plots have been reported to start at AED 900,000 and can rise significantly depending on size and location within the estate. Brokers highlight that demand for large residential plots is rising as wealthy buyers seek private, custom-built homes away from city congestion, especially in the post-pandemic environment where space and bespoke amenities have gained premium value. However, the ghosts of the failed Wahat Al Zaweya project are not easily exorcised. A number of individuals who invested years ago are wary of the promises made by Arabian Hills Estate. One investor, Saif Al Mheiri, who is still embroiled in a legal battle to reclaim funds tied to the old project, expressed scepticism: 'We were given so many promises the first time. Until I see villas built and families moving in, I will not believe anything.' Adding to the complexity, industry observers note that the UAE real estate market has evolved substantially since the first project was launched. Regulatory oversight has tightened, and buyers are generally more informed about their rights. Nevertheless, with thousands of units and plots under development across the UAE, the risk of delays or under-delivery remains a persistent concern for off-plan property investors. Arabian Hills Estate's projected handover timeline of early to late 2027 places it in a competitive field of upcoming developments in the UAE, all aiming to capture demand from both domestic and international buyers. Yet, achieving the luxurious vision promised will require overcoming significant logistical and reputational hurdles. The developers are banking on a combination of improved infrastructure, the allure of countryside living paired with city-style amenities, and enhanced legal protections to convince a market that has learned from past disappointments.
