Dubai Land Department (DLD) has launched a new mechanism to fix service fees for jointly owned properties for three years, enhancing financial stability, transparency, and long-term planning across Dubai’s real estate communities. The initiative begins with Palm Jumeirah and will expand across the emirate in upcoming phases.
Key Highlights:
- Service fees fixed for three years for jointly owned properties to promote predictability and transparency.
- Initiative launched in collaboration with Dubai Holding Community Management starting with the Palm Jumeirah master community.
- Management companies can now submit a three-year budget via the ‘Mollak’ system, with the option to continue a one-year budget model if preferred.
- Supports long-term operational contracts with service providers, enabling stronger financial planning.
- Enhances clarity, confidence, and certainty for property owners and investors.
- Marks a major step in advancing the ‘Mollak’ system and modernizing community management practices.
- Strengthens market stability, boosts transparency, and reinforces Dubai’s reputation as a competitive global real estate hub.
- Enables community management companies to operate with greater efficiency, supported by accurate and reliable data.
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