SHARJAH // Land connected to the abandoned Al Sahab Tower project in Al Majaz has been seized by the Sharjah courts, which will auction it to raise money for investors. Work on the project, which had attracted Dh85 million in investment capital, was halted while its foundation was still being laid and its developer fled the country. The date of the auction has yet to be decided. "We have already a list of 600 claimants that have filed a case with us," said Mohammed al Kamali, the director of the Sharjah Federal Supreme Court. "We are verifying everyone's claims and would compensate them all after auctioning the land. The court will decide what to compensate each claimant after selling off the land."
The project was to consist of a luxurious 56-storey residential tower overlooking Al Buhairah Corniche. Almost all of its flats were sold before construction began under Modern Home Real Estate, which was owned by Mousa Obaid al Harbi, a Saudi national. The developer fled the country with the investors' money. "The court has been taking time to investigate the case and its claimants," he said. "Investors have been regularly visiting the court to help in the investigations for the last five years.
"Many would ask us, 'But when shall we be compensated'? and some even lost hope, but now the time has come for justice." @Email:ykakande@thenational.ae
