Dubai Land Department has announced that the recent update of the landowners' association system in Dubai, which has recently been adopted by the Department under the name of “owners”, stipulates that service and maintenance fees for the joint ownership of real estate facilities must be approved by Dubai Land. , Represented in her organizational arm Real Estate Regulatory Agency (RERA).
The Department explained to Emirates Today that these fees were approved by the real estate developer himself, who was putting them according to his vision, pointing out that the invoices for the joint ownership services will be detailed in the new electronic system. According to the terms of the facility.
Dubai Land stressed that it is not permissible to increase the fees on the estimates made by the Department, pointing out at the same time that it requires the management of owners associations to approve any increase or reduction of fees.
The department stated that Malak system works on the detailed invoicing system, as each expenditure item will be included in these invoices, which will be available automatically through the system, pointing out that each owner has the right to know the fees, which will be issued quarterly.
She added that the new system helps property owners, jointly owned, in dealing with companies based on the management of this type of projects to run their properties easily, as the system works through a group of users involved in the management of jointly owned properties, and within the base of owners of real estate units, In addition to the database of registered units approved by «Dubai Land», where no user can change that data.
According to Dubai Land, 468 service fee accounts have been opened through RERA for projects listed in the system through RERA, which operate under the escrow account mechanism, so that the project developer has no relationship with this account.
According to the Department, the regulators succeeded in registering 1212 real estate projects listed under the management of real estate companies, in addition to registering 200 thousand real estate units of apartments, villas, offices and shops. Through which eight financial auditors were registered, following their accreditation from RERA.