Nakheel is planning to announce a "drastic reduction" in service charges for residents living in the company's communities as it tries to improve its operations and focus on the quality of its developments. Ali Rashid Lootah, the chairman of Nakheel, said yesterday his employees were negotiating with service providers to lower the price. The new fees would be unveiled within months. "This is part of the cultural change at Nakheel," he said. "We are negotiating and renegotiating again with service providers." Service charges, the fees paid to developers for the upkeep of jointly owned properties such as lifts, landscaping and lobbies, have been a bone of contention in Dubai over the past two years. The property regulators are overseeing a transition from fees being paid.

Developers obliged to make disclosure statements when selling units in a jointly owned property Developers need not provide disclosure for completed freehold buildings. Image Credit: Silvia Baron/ANM Dubai: No more will property buyers in Dubai be subjected to a veil of secrecy during their unit purchases. Under the Strata Law guidelines, developers are now obliged to make extensive disclosure statements when selling units in a jointly owned property. Although a limited disclosure regime has been in place since the Strata Law was issued in 2007, "full form" disclosure became mandatory from January 13. The disclosure statement must include a number of specific details on the project such as an estimate of service charges, anticipated completion and handover date, copies of.

In many parts of the world buying home insurance goes hand-in-hand with obtaining a mortgage for the purchase of a property. I am planning to buy property in the UAE. What are the different types of homeowners insurance available in the UAE, what do they cover and what do I have to think about when taking out a policy? In many parts of the world buying home insurance goes hand-in-hand with obtaining a mortgage for the purchase of a property. However, in the UAE this is not always the case and as a result it is estimated that more than 95 per cent of home owners here do not have insurance to cover their property or belongings. This is because many people think that they only need to take out general insurance to protect their property against theft, and as the UAE has a very.