Dubai has taken the lead over other cities in the Middle East by launching a “service charge and maintenance index” for freehold areas, a move that brings more transparency and supports the development of the real estate sector.
The index, released during Gitex Technology Week, currently provides details of 300 projects in 22 master development such as Business Bay, Dubai Marina, Jumeirah Beach Residence, Jumeirah Lakes Towers, International City, Motor City and Dubai Silicon Oasis though the Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department (DLD), has audited the service charges and maintenance fees of 420 projects.
The index is designed to be applied to services areas and common spaces and be under the management of owners associations and property developers. Read more
I am moving to Dubai by next week and am currently looking for a small studio for residence with a budget around AED 50k per year…I will be working on Sheikh Zayed Road next to Mall of the Emirates so looking within this zone . Please advise me what neighborhoods I should look into within this budget to be with walking distance or access to public transport. Read more
Burj Khalifa tenants living as high up as the 108th floor could be locked out of elevators and car parks if landlords do not settle the charges by Saturday.
The developer Emaar has also warned that security cards giving access to the building will be deactivated. Services such as air conditioning will also be switched off.
“It’s one thing to do this in a five-storey building. It’s another thing for the tallest building in the world,” said K K, who lives above the 20th floor.
“The two big things for us are the AC and the elevator. You can’t open a window here so it will be like sitting in a box. We can’t walk up and down all those floors so we may have to stay with friends. Read more