They expected a decrease in the bills ranging between 20 and 30% in the event of market control

Developers: The exaggeration of the "big boys" gave a negative impression on the real estate market

Real estate developers emphasized that the high fees for services allowance affects them, as it is related to the desire for real estate investment.

They pointed out to "Emirates Today" that there is an exaggeration on the part of some (large) real estate developers, which created a problem in the market and gave a negative impression on the real estate market, stressing that the presence of competitiveness in terms of pricing in the market will reduce fees and revive real estate investment.

Governance and pricing

In detail, the real estate developer, Chairman of the Board of Directors of Al-Waleed Investment Company, Muhammad Al-Mutawa, said that "the high fees for services are affecting us as real estate developers, as this is related to the desire for real estate investment."

Al-Mutawa affirmed the efforts of the Land and Property Department in this aspect, especially with regard to governance matters in real estate management, which the department announced in the so-called non-conflict of interest, expecting that the bills will decrease by rates ranging between 20 and 30%, if the regulatory authorities succeed in controlling the market and monitoring companies Real Estate Management.

Al-Mutawa stated that the policy of non-conflict of interest could lead to positive results if applied to all real estate developers, without there being exceptions, stressing that the presence of competitiveness in terms of pricing in the market would reduce fees and revive real estate investment.

"Big" developers

For his part, the real estate developer, Chairman of the Board of Directors of "Fam Real Estate Group", Faisal Ali Moussa, said that the real estate developer is the best authority to manage the property, with monitoring and auditing of his financial bills.

He stressed the need for a standard schedule for each service, with a price quote provided by three different parties, indicating that there is an exaggeration by some (large) real estate developers in the Dubai market, which created a problem in the market and gave a negative impression on the real estate market.

Sustainable building materials

In the same context, the real estate developer and CEO of "Binghatti Development Company", Eng. Mohamed Binghatti, referred to the methods used by some developers to address the problem of high service costs in their projects, including controlling the materials used in the construction of the building.

He added: “They focus on the use of sustainable building materials that do not consume high energy, and do not waste energy, such as insulating glass, according to modern technology, and dyes that deter solar radiation, as well as advanced conditioning techniques approved by the American Society of Heating, Refrigeration and Air Conditioning Engineers, in addition to the design. Sustainable building by providing shades to the building through modern techniques for the exterior glass of the building.

Binghatti also indicated that an able team has been put in place to manage the property, so that there is no waste of energy consumption throughout the property, in addition to not being arbitrary in adding profits over the costs of providing services by real estate management companies.

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