Dubai's property regulator, the Real Estate Regulatory Agency (RERA) has compiled a list of annual service charges on hundreds of freehold properties across the emirate, The National reported.
RERA said that the dirhams per square foot charges provided in the index accessed through the Dubai Land Department website, was based on information verified by real estate developers and owners’ associations and audited by the agency's staff.
The regulatory body, which has been planning to introduce the service charge index since 2012, said that the new index included 300 individual buildings located in 22 major developments including Dubai Marina, Jumeirah Beach Residence, Jumeirah Lakes Towers, International City, Motor City and Silicon Oasis.
“The launch of the Service Charge and Maintenance Index enables landlords and property investors in Dubai to know the service charges and fees that are paid for each project,” said the Rera senior director Mohammed Khalifa bin Hammad.
“In the near future we aim for the index to cover all of the emirate’s urban areas and provide this service to all our customers.”
The index reveals big differences in the service charges applied on developments throughout the emirate – from AED8.12 per sq ft at Royal Residences at International City to AED20.88 per sq ft for Grandeur Residences on Palm Jumeirah.