Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Green community residents threaten legal action over strata law spat  Join our daily free Newsletter

MENAFN - Khaleej Times - 23/02/2009

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) Residents of the Green Community are threatening legal action against their developer unless they establish an 
owners' association.

The news follows a statement by Peter Crogan, CEO of property management firm BCS, that the development was "unique" and no association needed to be created.

However, Marwan bin Ghalita, Director-General of the Real Estate Regulatory Agency (Rera), told Khaleej Times that all developers must comply with the strata law to be passed in March. Two years ago, owners in the Green Community were slapped with a service charge increase of 200 per cent by developer Union Properties (UP) and this year the increase has been up to
 10 per cent.

Under the new Rera law, owners will be able to approve or reject the budget for service charges in their communities by sitting on the owners' associations. Developers have until September to register the associations. "We are thinking of launching legal action against UP as this is a major concern for all of us," said one resident, who did not wish 
to be named.

According to official figures, 25 per cent of owners in the development have refused to pay their service charges for this year.

No one from BCS Strata Management was willing to comment on the matter, but a source said that the policy was set by the developer, UP.

A senior official at UP, who would not be named, said that previously contracts at the Green Community, which is part of Dubai Investment Park (DIP), did not need to be registered with Rera as the development was outside its jurisdiction. The same was also believed to be the case with Uptown Mirdiff.

However, a law passed in September by Rera said that all leasehold and freehold contracts across Dubai needed to be registered with them.

"Rera regulates all real estate in Dubai, and the Land Department registers all real estate rights and transactions," said Marwan bin Ghalita, when asked about the jurisdiction over DIP and Uptown Mirdiff.

"The law is clear and anyone who says anything different should write to us for clarification."

The senior source at UP said that the company would enter into negotiations with Rera to clarify whether they now needed to register contracts and establish an owners' association.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help