403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Saudi- Nazaha detects land price manipulation
(MENAFN- Arab News) RIYADH: The National Anti-Corruption Commission (Nazaha) detected irregularities in the land evaluation project by a compensation committee in the Al-Kharj province.
According to Nazaha spokesman Abdul Rahman Al-Ajlan Nazaha found that the land in question is agricultural in nature. The compensation committee put its value at between SR300 and SR400 per square meter while the actual price should not exceed SR10 per square meter.
Al-Ajlan said Nazaha findings were based on the terms of reference that allowed it to conduct a follow-up on a number of ownership of land expropriated for a road development project by the Ministry of Transport in Al-Kharj.
Al-Ajlan noted that the working team consisting of engineers financial and legal experts made a thorough inventory of the land after accessing the minutes of the committee. Nazaha compared the estimates contained in the minutes with the land price offered at the same site after visiting real estate offices in the region
'It turned out to be an overestimation of the value of the price per square meter. It was found that the minutes the committee referred to were totally different from the price of residential land that was quoted' the spokesman observed.
He continued: 'In view of the above findings Nazaha has had to submit its report to the Royal Court which issued a decree stopping the release of the remaining amount of compensation.'
Also an order was issued for the recovery of the additional amount that was paid to the land owners with the referral of members of the committee to relevant authorities to take legal action against them.
He said Nazaha strictly adheres to the principle of transparency in all its forms laid down in the national strategy for the protection of integrity and anti-corruption.
According to Nazaha spokesman Abdul Rahman Al-Ajlan Nazaha found that the land in question is agricultural in nature. The compensation committee put its value at between SR300 and SR400 per square meter while the actual price should not exceed SR10 per square meter.
Al-Ajlan said Nazaha findings were based on the terms of reference that allowed it to conduct a follow-up on a number of ownership of land expropriated for a road development project by the Ministry of Transport in Al-Kharj.
Al-Ajlan noted that the working team consisting of engineers financial and legal experts made a thorough inventory of the land after accessing the minutes of the committee. Nazaha compared the estimates contained in the minutes with the land price offered at the same site after visiting real estate offices in the region
'It turned out to be an overestimation of the value of the price per square meter. It was found that the minutes the committee referred to were totally different from the price of residential land that was quoted' the spokesman observed.
He continued: 'In view of the above findings Nazaha has had to submit its report to the Royal Court which issued a decree stopping the release of the remaining amount of compensation.'
Also an order was issued for the recovery of the additional amount that was paid to the land owners with the referral of members of the committee to relevant authorities to take legal action against them.
He said Nazaha strictly adheres to the principle of transparency in all its forms laid down in the national strategy for the protection of integrity and anti-corruption.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment