All clear for Riffa Views project

Manama, Oct.12 (BNA): Riffa Views project has been removed from the list of stalled development schemes. The Ministerial Committee for Construction and Infrastructure announced the decision, which was based on the tangible commitment of Riffa Views management to the plan which was worked out last March. Chaired by Deputy Premier Shaikh Khalid bin Abdulla Al-Khalifa said that the management would start completing stalled work under the first phase of the plan so as it could hand over units to buyers. The panel, which was tasked to tackle stalled property development projects, thanked Riffa Views management for their constructive cooperation and commitment to the aforementioned plan. Located in Riffa, the project includes a residential bloc comprising 1056 villas, in addition to a Golf course, a school, sport academies, retail shops and restaurants. The project would be no longer under law 66 for 2014 on settling stalled property development projects, to be governed instead by law 28 for 2014 on property development, a legislation that regulates the relation between the developer, financier and buyer and organizes on-map sale. The Deputy Premier expressed his delight at the settlement of the stalled project in a satisfactory way that preserved the rights of buyers and investors. He underlined the dedicated efforts of the Government in tandem with the judiciary to settle the stalled issue and safeguard the stakes and rights of all parties. He stressed the committee’s resolve to spare no effort to settle other stalled property development projects, including Villamar and Landmark City View. Meanwhile, the committee has decided to refer Sunset Hills to the Stalled Property Projects Settlement Committee, which has judicial powers, as the develop failed to honour his commitments. Sunset Hills, which is part of Al-Areen development, was launched in 2007 and supposed to be completed by 2009. The ministerial committee urged companies that own or manage stalled property development projects to regulate their situation so as protect Bahrain’s economic standing.