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.
China relaxes visa rules for UK citizens on PM's trip to Beijing
Tesla invests $2 billion in Musk's xAI, reiterates start of Cybercab production
flydubai invests in leadership programmes to strengthen internal talent
Amazon cuts 16,000 corporate jobs, undoing pandemic-era hiring amid AI push
