Real estate company to pay BD150,000 in property dispute

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

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A civil court has ordered a well-known real estate investment company to pay BD150,000 to two partners involved in a property dispute.

This ruling requires the company to cover legal costs, highlighting the financial risks faced by the claimants, who have spent over a year fighting for their rightful shares from a troubled deal.

The case began with a sale agreement signed on 2 October 2022, where the first claimant, the second claimant, and others bought a real estate unit in a development for a total of BD210,000.

The first claimant was allocated BD100,000, while the second claimant received 50,000 dinars, both of whom fully paid their shares at that time.

On the same day, the parties signed a resale agreement with the defendant company, stating that the transaction would happen within 30 days after 16 months from the date the defendant received the full payment.

This resale was supposed to take place by 18 April 2024, with the same distribution of shares as in the original agreement.

Sale contract However, the defendant company failed to finalise the sale contract by the deadline and did not deliver the respective shares to the claimants.

In their court request, the claimants sought BD100,000 for the first claimant and BD50,000 for the second claimant.

Lawyer Mohammed Al-Manaai, representing the claimants, argued that they had clearly shown their rights to the amount owed for the property, which was due on the specified date. This confirms that the claimants had met their financial obligations concerning the purchase.