The Dubai Land Department has succeeded in reducing the service allowance rate in all regions of the emirate during 2020, by 1.02 dirhams, to 13.06 dirhams per square foot, for 14.08 dirhams Last year, a decrease of 7.2%.
Dubai Land, represented by its regulatory arm, the Real Estate Regulatory Agency, RERA, said that it was able to reduce service fees by a good rate during the current year, by launching a number of regulatory measures.
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and indicated that the highest rate of decrease in service allowance was in Jumeirah Village, as the percentage of decrease reached 18%, while the lowest rate of decrease was recorded in the area of Lakes Towers. Jumeirah - 2%.
The department confirmed that there are many positive effects that emerged after the implementation of the new joint ownership law, including organizing the work of all stakeholders working in the joint ownership sector, and preserving the rights of Real estate owners, most notably opening organizational accounts for projects, auditing transactions for requests for budgets for services allowances, monitoring the quality of joint real estate services, and organizing real estate management.
(Amazon Fun Knowledge)
