Thursday, May 23, 2024
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Dubai: Property Expenses may Increase After Record Rains

Property service charges in Dubai may rise following last month’s unprecedented rains, which prompted developers to offer free maintenance and cleaning services.

The government’s mandate for all developers and community managers to conduct free cleaning and repairs for residences is expected to alleviate residents’ inconvenience, particularly in communities severely damaged by the rains. Prathyusha Gurrapu, director and head of research and consultancy at Cushman & Wakefield Core, predicted that this impact would result in higher service charges and insurance premiums shortly.

This means that residents of Dubai’s major freehold areas, including Business Bay, Downtown, Jumeirah Beach Residence (JBR), Jumeirah Lake Towers (JLT), International City, Palm Jumeirah, Damac Hills, Dubai Marina, Mudon, Discovery Gardens, Remraam, Arabian Ranches, and many others, will benefit from government and private developer initiatives.

Gurrapu added how the community management challenges were addressed in the aftermath of heavy rains “are expected to affect the overall choices in addition to location and pricing for buyers and tenants when looking at locations to buy or rent. Data from the Dubai Statistics Centre reveals that from January to March 2024, the population rose by 25,776, with the supply numbers being delivered being absorbed by the population growth.

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Thursday, May 23, 2024

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