Country: Dubai, United Arab Emirates
24 June 2009
Dubai property developer, Nakheel, has announced that it is reducing service charges for residents in its Discovery Gardens community, in Dubai, following a detailed review of scope and suppliers.
The new fee has already been formally agreed with the Dubai property market regulator, RERA, and will mean a reduction of around £1 per sq ft in service changes for each homeowner.
The new lower rate service charge will be backdated to 1 January, with any refunds for homeowners being credited against 2010’s service charges effective from 1 October.
Abdulrahman Kalantar, managing director of Nakheel Asset Management and Design, said: “When we first set the service charges for Discovery Gardens, they were based on our best estimates for this new Nakheel community.
“Following a lengthy review, we have been able to take advantage of recent reductions in the cost of goods and services, which has in turn reduced our overall service charge budgets. We’re now delighted to pass on these cost savings to every homeowner at Discovery Gardens.”
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