Strata applauds Rera's service charge freeze

BCS Strata Management Services has welcomed the recent plans, put forward by the Real Estate Regulatory Authority (RERA), to freeze service charges.

The initiatives are a step towards the full implementation of the Dubai Condominium Law issued last year by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE vice president and prime minister and ruler of Dubai.

Peter Crogan, chief executive officer of BCS, expressed his support for RERA’s announcement that service charges will be frozen until Owner’s Associations, which will be involved in forming their budgets for the future. He also agreed with the initiative announced by RERA to develop an online system for the registration of Owner’s Associations.

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According to RERA, the online registration system will be available for use beginning March 15.