Developers in Dubai will no longer be able to collect service charges from property owners.
This comes after the Dubai Land Department and RERA launched a new platform, known as Mollak, to help bring transparency and investor confidence in the real estate market in the emirate.
Approved property management companies or property owners will now take on all collection responsibilities.
Mohammed Bin Hamad, Senior Director of Real Estate at RERA, explains that as a result the running cost of buildings will be reduced by up to 15 per cent.
UAE to develop a defence industrial free zone in Abu Dhabi
Apple settles lawsuit over late Siri AI features for $250 million
UAE plans to establish global defence manufacturing hub
UAE signs contract to purchase C-390 Millennium aircraft for air force
'Make it in the Emirates' sees strong local, international turnout
