Costs coming down in Dubai
The service costs for owners of a certain freehold property in Dubai have been reduced in 2010, thanks to a revision of property management providers and the implementation of technology to help reduce running costs. The Springs Dubai is one of the most sought after freehold developments in the emirate and Emaar properties who developed the site have been working hard to reduce costs for the occupants.
Efficient property management has been cited before as a deal buster for investors keen on buying property in Dubai and the recent turmoil of real estate in the UAE has meant any number of developers have had to review costs and practices in order to provide value for money. Emaar have produced a Community Service Fee information pack which enlightens owners as to how their service fees are arrived at and how the money is allocated.
Currently however, Emaar estimate that nearly 20% of owners have yet to pay their 2009 fees with 4% lagging behind on 2008’s fees. The downward revision of fees is another indication that property for sale in Dubai is proving ever more attractive.