New Fees for property owners

Freeehold property owners in Dubai will have to pay two maintenance fees under a new law to be implemented in three months, an official said.

The combined cost is likely to be considerably higher than the single amount currently paid. Anyone who fails to pay could face stiff penalties.

The first fee, a service charge, will be paid to an association of owners of flats or villas in a building or development. And, as now, a fee will be paid to the developer, although this charge may be lower than at present.

The changes are part of the new Strata Law, said Marwan Ahmed bin Ghalita, CEO of Real Estate Regulatory Agency (Rera). Anyone who refuses to pay the fee to the owners’ association after three warnings will face face stiff penalties.

“The law covers jointly owned buildings,” said bin Ghalita. “It applies to residential and commercial buildings, including hotels and compound villas, in the freehold areas.

“For example, buyers in a freehold residential tower will form an owners’ association as soon as the first flat is registered with Rera. They will then select members of the society to deal with issues relating to the property.

“In a project such as the Burj Dubai there are many residences, offices and hotels. Each property will have a separate owners’ association.

“The new law defines the rights and obligations of project owners, developers, floors owners and flat owners in relation to the use of facilities such as storage areas, car parks, gardens, swimming pools and gates. It also regulates joint services such as building management.”

Bin Ghalita said many owners who currently pay high maintenance fees to developers were receiving poor quality service in return.

“Under the new law the owners’ association will have to pay the service fees into a dedicated account at a bank chosen by the members. The association will then have the option of selecting the company that will look after the maintenance.

“The developer’s fee will be paid through the association and will cover shared facilities such as roads and parks.”

Article Source: business24-7.ae

Dubai Promenade

Introducing Dubai Promenade, a sophisticated waterfront community creating a virtual peninsula along the Dubai shoreline in New Dubai.

Surrounded by the sea, marina and natural beach, Dubai Promenade offers panoramic views, idyllic walkways, scenic vistas and carefully considered architecture to create a distinctly different environment.

Celebrate the luxuries of watching a majestic sunset, taking an evening stroll on The Pier, window shopping on The Waterfront, or just breathing in the open sea .

Rejuvenate and relax with access to the finest luxurious amenities from the iconic circular shaped hotel to fine dining or pampering spa treatments within walking distance from your private residences.

Although Dubai Promenade has the feeling of a secluded, private resort, it has all the advantages of an ideal location and total accessibility. It is also conveniently connected to Dubai Marina’s “Marina Walk”. Dubai Promenade has its own exclusive 70-berth marina, with direct access to the Promenade.

The community’s residences are elevated above base level and situated on a podium structure. A dedicated homeowner ramp allows for direct access to the podium, which then conveniently routes residents through and exclusive entrance to their car park spaces. Alternate transportation options will also be available, providing easy access for guests and residents

The Promenade Retail Link has over 26,000 square metres of amazing shopping configured in a unique indoor-outdoor arrangement.

The Pier is an area that’s accessible to the public. It’s a great spot to enjoy a meal at one of the cafés, take in the fantastic views or just watch the sun set.

The Waterfront runs the entire length of the Promenade, overlooking a 70-berth Marina. It has a wonderful maritime ambience that includes many fine restaurants and shops.

The cafés, restaurants and specialty shops will form a buffer between the public and private areas of Dubai Promenade.

Dubai Promenade is strategically situated on its own peninsula, directly facing the Gulf, with breathtaking vistas of Palm Jumeirah and along the coast. Dubai Promenade has the distinction of having truly uninterrupted sea water views.

You can marvel at the glow from the lights of an exciting new city. Or turn your back on it all and bask in the glow of moonlight over the quiet Gulf. Only Dubai Promenade can offer such vantage points. Besides its unique waterfront location, Dubai Promenade is also ideally situated in New Dubai, home to the city’s best entertainment, schools, retail, and hospitality offerings.

What makes Dubai Promenade truly special is the way in which all the elements come together to create not just a development, but a community - a place that can truly be your own little world.

The Residences consist of three beautiful tower complexes. Each is inspired by and takes its name from Dubai’s rich seafaring tradition.

The Channel Towers - Al Shimal, Suheili and Al Gharbi are named for local winds.

The Marina Towers - Safeena, Fulq and Sarieh are taken from ships and vessels.

The Beach Towers - Douj and Heirrat are related to the Gulfshore.

Dubai Promenade’s commercial space features The Office Tower, a distinctive property in a prime setting that provides an ideal place to conduct business.

Hospitality space comprises two world-class hotels.

The Icon Hotel serves a fitting centerpiece to Dubai Promenade and an unmistakable addition to the cityscape of Dubai.

The Boutique Hotel offers elegant and convenient lodging. Stunning, graceful and stylish.

Dubai Promenade offers a harmonious union of residential, office, hospitality, retail and commercial space, along with many other points of interest.

Residences:

The Channel Towers - Al Shimal, Suheili and Al Gharbi
The Marina Towers - Safeena, Fulq and Sarieh
The Beach Towers - Douj and Heirrat

Business Sector:

The Office Tower

Retail & Amenities:

The Promenade Retail Link
The Pier
The Waterfront
The Marina

Hospitality:

The Icon Hotel
The Boutique Hotel

• The development size built up area is approximately 1,060,000 m2
• The expected population is approximately 20,000 for Dubai Promenade with approximately 9,700 residents
• The Channel Towers built up area is approximately143,300m2
• The Marina Towers built up area of approximately 147,000 m2
• The Beach Towers built up area of approximately 90,500 m2.
• The Office Tower built up area is approximately 32,835m2.