About 1,400 investors are demanding SR351 million from the Ministry of Trade and Industry in compensation for losses incurred by a real estate investment scheme in Makkah. The case, which is due to be heard by the Board of Grievances in Riyadh in the next few weeks, has already passed through the General Court in Jeddah which made a Shariah ruling in favor of the claimants and against the investment company. According to the lawsuit, the Ministry of Trade and Industry issued permits five years ago for investment in land not owned by the company supposedly looking to develop the site, and without the knowledge of the true owners of the property. The claimants in the case say they lost some SR186 million in the project. Lawyer for the claimants, Muhammad Al-Mu'nis, said the private action had been brought against the ministry department which granted the permits.
