|
Dubai: With various factions lobbying in the run-up to the finalising of how the strata law would operate in Dubai, an associate of a top legal firm expects the master developers to be given concessions.
"What I am expecting to see is that law may not apply to the same extent to master developers in respect of larger master communities," said Stephen Kelly, associate, Clyde & Co.
"If we take, for instance, the master developer which looks after the infrastructure of the Palm, we don't expect the strata law to apply to that kind of a development in the same manner as it will to smaller developments.
"But we expect all the individual apartment buildings within the Palm to have to comply with the law. In fact, we expect the master developer to continue managing the community areas - roads, lights, infrastructure - in the same way as it presently does.
"The change will occur at the individual building level - the buildings would still be governed by the strata law and must comply. The owners of each building, through their owners association, will manage the common areas of their buildings."
Sub-developers, who are the individual developers building on the Palm, and not Nakheel, for instance, need to fully comply.
Though the strata law came into effect on April 1, 2008, nothing much has changed as the regulations are still to be finalised by the Land Department. But it is hoped to be finalised in the coming months, if not sooner, Kelly said. "In other countries, the type of infrastructure being constructed by master developers in Dubai would normally be done by the local council. The council would charge council rates for maintenance.
"The likes of Nakheel [for instance] fall into that role - they are constructing and maintaining the infrastructure, and need to charge the owners service charges. An owners association within a larger master community may not be sophisticated enough to manage such complex infrastructure. It's a big job."
What do you think of this division of roles? What else can be done to improve the satisfaction of individual investors? Tell us at letter2editor@gulfnews.com or fill in the form bellow to send your comments.
Send us your comments
TERMS AND CONDITIONS Gulf News may edit comments for length and clarity but will not change the tone of the message. Comments will only be accepted if all fields (including name) are filled correctly and the message isn't abusive, defamatory or offensive. The Gulf News website will only print your first name along with your comment. Please state in the message if you wish to remain anonymous. All comments sent may be forwarded for use in the Gulf News newspaper.
|