AlWaseela Real Estate Development Projects Company held its General Assembly for the financial year ending in 2024, during which the company's administrative and financial reports were discussed, and all items on the agenda were approved. 

The meeting was attended by Ali Al-Owaid, representative of Al-Waha Office – the company's financial auditor, Dr. Youssef Al-Harbash, the company’s lawyer from Al-Harbash Law Firm, and Saud Al-Asfour from Al-Asimi & Al-Jouan Law Firm.

On this occasion, the Chairman and CEO of the company, Dr. Fahad Saleh Al-Khannah, stated that the General Assembly addressed the latest legal developments regarding the compensation case that the company won following the termination of the partnership contract signed with one of the authorities to establish the Crafts and Small Industries Complex.

Al-Khannah affirmed that the Board of Directors is employing all legal means to ensure shareholders receive their full rights, noting that the company's lawyers clarified that AlWaseela is entitled to final compensation after its right to interim compensation was affirmed by a Court of Cassation ruling. 

He added that the Experts Administration had issued several reports supporting the company’s compensation claims, and that the Court of Appeal issued a ruling in favor of compensation. Following that, the company appealed against the ruling to the Court of Cassation to claim the full compensation amount determined by the Experts Administration and supported by official documents.

He expressed his confidence in the Kuwaiti judiciary to uphold justice and secure fair compensation for shareholders.

On their part, shareholders expressed their appreciation for the significant efforts made by successive Boards of Directors in defending the company's rights throughout a legal battle that spanned nearly 20 years—during which their funds were frozen, and their rights delayed. They affirmed their trust in God first, and then in the Kuwaiti judiciary, to provide justice and compensate them for the losses they endured during those years.

They also stressed that AlWaseela is a shareholding company owned by hundreds of citizens and many companies operating in the Kuwaiti market, including the Public Institution for Social Security, which is one of its largest shareholders and is responsible for safeguarding the interests of retirees.

At the conclusion of the assembly, Al-Khannah extended his deep gratitude to all shareholders for their patience, trust, and continuous support over the past years, confirming that relief, God willing, is near, and that the Board remains committed to recovering the full rights of the company and its shareholders.