Dubai Launches Service Charge and Maintenance Index
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.
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