The newly implemented UAE Owners Association law came with greater responsibilities to improve quality of service and return on investments.
Law 6 of 2009 on the Ownership of Common Property repealed Law 27 of 2007 and marked a substantial change in the operation of Jointly Owned Property and the roles and functions of the Owners Association Board and The Management Bodies as properties – as with every investment – needed to be protected and increased in value.
How do Owners Association Boards address the new law? And how to they spend the community service charge budget with the aim to protect the home purchasers and also boost the real estate investments.
We sit down with the Chairman of the Owners Committee for the Burj Residences in Downtown, one of Emaar’s most prestigious communities consisting of nine towers. Mr Reza Mohammadi explains how the committee has maintained the investment value of the properties to remain one of the most in demand property developments in Dubai.
Listen to the full interview here on the Buzzsprout hosting site or on all major podcast directories including Apple, Spotify, Google, Stitcher, and Spotify podcasts.
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Amber Waheed, is the author of 'The Great Fraud Fightback' in which she shares her story, lessons learnt and advice on winning a landmark court case in Dubai against financial advisory fraud.