GG Developers, the real estate developer of the Golden Gate, a premium project located at Bahrain Bay, has clarified its stand with regard to the recent decision of Bahrain's Real Estate Regulatory Authority (Rera) to withdraw the licence for the project. 

 

The company in its statement released yesterday (December 28), said after reviewing the day's newspapers, it had noticed Rera decision published on December 24 regarding 'Resolution No. (1) of 2020 against GG Developers to withdraw the license for off-plan project sales' which the company was notified of on December 27.

 

"With all due respect to the press and their role, we would like to notify you that the publication came in violation of Article (11) of the Real Estate Regulatory Law, as it is prohibited to issue a publication even after the deadline of the appeal against the Authority's decision proving the violation or the issuance of a final judgment for the violation, and in response to this, and because the dispute over the decision to temporarily halt the project is still pending before the fair Bahraini Court before the Administrative Court under Case No. 9/15979/2020/02, and also a grievance on the decision to withdraw the project has been submitted and has not yet been decided upon," said the statement citing Anas Ishaq Al Kooheji, the Executive Director/Board Member.

 

"And accordingly, the court is the sole authority to finalize the validity and integrity of the decisions issued and enforces its control over them. Every decision issued by the Rera is not final and does not have its legitimacy if a final court ruling is not yet issued in this regard," he stated. 

 

Violation of the provisions of the law in accordance with article (11) section (c) of the law, states that:

*The Authority may publish a statement of the violation which is proved to have been committed by the violator, using the method and manner specified in the order and in a way commensurate with the gravity of the violation provided that such publication shall not take place except after the expiry of the time limit for the appeal against the Authority's order establishing the violation or after a conclusive court judgment is passed establishing the violation. 

 

Al Kooheji further pointed out that "what is published does not affect the developer but rather affects the entire real estate sector and the reputation of Bahrain and its investors."

 

"Therefore, caution must be taken with everything that is published. And based on the right to respond, we request the publication of this explanatory announcement from us," he added.-TradeArabia News Service