[ad_1]
Dubai: The Abu Dhabi Ministry of Municipalities and Transport will require developers and businesses to obtain pre-approval before setting or increasing service charges for residential and commercial properties.
It is prohibited to increase or impose new service fees on owners of real estate units without the prior approval of the DMT. The decision is made in accordance with Abu Dhabi real estate laws and regulatory standards.
“Service charge regulations guarantee the rights of property owners, including potential investors who wish to buy for residence or investment purposes,†said Dr Adeeb Al Afifi, executive director of the real estate business at DMT. “It will also contribute to a more competitive and globally open economy in Abu Dhabi, helping owners to manage their properties more effectively and efficiently.”
Prior to the application of this new regulation, service charges were decided and applied by the developer or the property management company. Al Afif said the system is now more precise and detailed and is based on more transparent criteria, saying every owner still has the right to know the details and purpose of the fees they are paying.
[ad_2]
