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19.10.2014
According to calculations by The National, properties in the Burj Khalifa area paid the highest service charges, averaging AED19.40 per square foot on annual charges for services, maintenance, property management and building insurance. A new Rera service charge index is focusing attention on the vast differences in the charges property owners in different areas of Dubai are being asked to pay for services, The National reported.
The index, launched last week, compiles a list of annual service charges for 300 individual buildings located in 22 major developments. According to calculations by The National using the Rera data, properties in the Burj Khalifa area paid the highest service charges, averaging AED19.40 per square foot on annual charges for services, maintenance, property management and building insurance.
The area is also the most expensive in the city with apartment prices per sq ft reaching between AED1,700 and AED3,300, according to the latest available figures from Asteco, the property services company.
Second highest, according to the Rera data, was Dubai Marina, where property owners on average spent AED15.08 per sq ft, where apartment prices stood at between AED1,200 and AED3,000 per sq ft.
At the other end of the spectrum, property owners at International City phase one spent on average AED9.52 per sq ft on their service charges and owners at the International Media Production Zone spent AED10.13 per sq ft.
“It is not surprising that there is a wide discrepancy between the service charges which are paid in different areas,” said Simon Townsend, the business development manager at the property services company DTZ’s Dubai office. “This is because some buildings come with a great deal more services than others such as swimming pools, private beaches and private security while others do not. All of these services are eventually paid for by the property owners.”
The index, launched last week, compiles a list of annual service charges for 300 individual buildings located in 22 major developments. According to calculations by The National using the Rera data, properties in the Burj Khalifa area paid the highest service charges, averaging AED19.40 per square foot on annual charges for services, maintenance, property management and building insurance.
The area is also the most expensive in the city with apartment prices per sq ft reaching between AED1,700 and AED3,300, according to the latest available figures from Asteco, the property services company.
Second highest, according to the Rera data, was Dubai Marina, where property owners on average spent AED15.08 per sq ft, where apartment prices stood at between AED1,200 and AED3,000 per sq ft.
At the other end of the spectrum, property owners at International City phase one spent on average AED9.52 per sq ft on their service charges and owners at the International Media Production Zone spent AED10.13 per sq ft.
“It is not surprising that there is a wide discrepancy between the service charges which are paid in different areas,” said Simon Townsend, the business development manager at the property services company DTZ’s Dubai office. “This is because some buildings come with a great deal more services than others such as swimming pools, private beaches and private security while others do not. All of these services are eventually paid for by the property owners.”
