Emaar to overhaul service charges
Consultant Olive-VFM brought in to deliver universal service charge model for residential developments.
Facilities management (FM) consultant Olive-VFM has been employed by Emaar Properties to come up with a universal service charge model for the Dubai developer's residential developments, the company has told Facilities Management Middle East.
Olive-VFM said over the next few months it will collect information to enable it to devise a service charge model comparable to those used internationally.
"Emaar is looking for a global standard across the company and the service charge breakdown will be included in service contracts," said Chris Mills, principle consultant at Olive-VFM.
"The model will be an international standard recognised by major institutions such as the Royal Institute of Chartered Surveyors, the British Institute of Facilities Management (BIFM) and the International Facilities Management Association."
Mill's said the model is to be implemented by the end of the year and will give consideration to corporate bodies and owner's associations.
"A lot of the owners at the moment are demanding transparency and Emaar is trying to gear up for the strata law," he said.
"It's an internal procedure for Emaar, but it will give residents more of an understanding about the costs."
Mills said the move will also allow Emaar to better understand its costs, services and performance by allowing it to benchmark against its properties against each other.