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Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai

Understanding Tenant Responsibilities: Service Charges and RERA Registration Fees in Dubai

February 5, 2024

Navigating the intricacies of tenancy contracts in Dubai involves a comprehensive understanding of the applicable laws and regulations. Law No. (26) of 2007, governing the landlord-tenant relationship, and Law No. (6) of 2019, focusing on jointly owned real property, are pivotal in defining the landscape. Read this also : Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai In the realm of Dubai’s real estate, the tenancy contract serves as a cornerstone for establishing the rights and obligations of both landlords and tenants. Payment obligations, including fees and taxes to government entities, are typically shouldered by the tenant unless explicitly stated otherwise in the contract. Article 22 of the Tenancy Law reinforces this principle, stating that the tenant is responsible for all fees and taxes related to the use of the property, unless specified otherwise in the lease contract. Read this also : Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time Service charges, a key component of tenancy contract renewals, encompass three elements: (i) service charges calculated at 2 percent of the annual rent, (ii) Dh226, and (iii) RERA registration fees. Understanding each component is crucial for tenants navigating the renewal process. Service charges, as defined in Article 2 of the Apartments Law, are annual fees collected from owners to cover the management, operation, maintenance, and repair costs of jointly owned real property. Article 25 outlines the responsibility of the premises owner to settle these charges with the management entity. However, tenants may find that their contracts transfer this responsibility to them. It’s advisable to discuss and negotiate these terms with the landlord before each renewal. Read this also : Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024 RERA registration fees, mandated by Article 22 of the Tenancy Law, are obligatory charges payable to a government entity. Unless otherwise stipulated in the tenancy contract, tenants are obligated to cover these charges. When renewing your tenancy contract, any additional charges agreed upon in your contract are deemed legal. It’s essential to review and negotiate these terms before renewal to ensure a transparent and fair agreement. Navigate your tenancy journey in Dubai with confidence, armed with a thorough understanding of your responsibilities and rights. #DubaiTenancyLaws #ServiceChargesDubai #RERARegistrationFees #TenantRights #RealEstateDubai #LegalInsightsDubai #DubaiProperty

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Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai

Unlocking the Gateway to Generational Wealth: Understanding Property Transfers to Family Members in Dubai

February 5, 2024

Are you considering passing down your Dubai property legacy to your first-degree relatives? Navigate the seamless process with insights into the fees and regulations set by the Dubai Land Department (DLD). Read this also : Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time In adherence to the Executive Council Resolution No. 30 of 2013, also known as the Dubai Land Department Fees Resolution of 2013, the DLD oversees property registration and transfers, focusing on fees rather than taxes. According to Article 2 of the Resolution, fees for the registration of Real Property Dispositions are exclusively managed by the DLD. This encompasses completed, under-construction, or off-plan real properties, along with associated services outlined in Table (1) attached to the Resolution. Read this also : Revolutionizing Saudi Arabia’s Housing Sector: PwC Advocates for Off-Plan Residential Offerings to Address a 1.5 Million Unit Shortage If you’re looking to gift your property to first-degree family members, such as parents, spouses, or children, the process incurs a charge of 0.125 percent of the property’s value. The minimum charge for such transactions is set at Dh2,000. Article 3(5) of the Dubai Land Department Fees Resolution of 2013 elaborates on the payment process, stating that the individual receiving the transferred rights is responsible for covering the fees. This applies to various scenarios, including contracts for land use and development (Musataha), transferring a share of real property among heirs (Takharuj), gifts, wills, mortgages, debt conversions, family endowments (Family Waqf), and registering the rights of heirs of tenants. Read this also : Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024 To break it down further, you can gift a property to first-degree family members by paying 0.125 percent of the property’s value or a minimum of Dh2,000, whichever is higher. For those contemplating the sale of property to first-degree relatives, individuals, or corporations, be prepared to allocate 4% of the selling contract’s value. Read this also : In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark Understanding these intricacies ensures a smooth transition of property within your family circle. Embark on the journey of securing your family’s future while navigating the legal landscape with clarity and confidence. #DubaiRealEstate #FamilyLegacy #PropertyTransferDubai #DLDGuidelines”

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Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time

Experience the Magic: Dhai Dubai Light Art Festival Illuminates Expo City Dubai for a Limited Time

February 3, 2024

Dubai unveils a captivating spectacle with the ‘Dhai Dubai Light Art Festival,’ a mesmerizing celebration of light, art, and culture hosted at Expo City Dubai. The best part? It’s entirely free! This immersive event, inaugurated on January 26 and running until February 4, showcases seven interactive light art installations created by renowned Emirati artists, offering a unique opportunity for visitors to engage and interact with the exhibits. Read this also : Revolutionizing Saudi Arabia’s Housing Sector: PwC Advocates for Off-Plan Residential Offerings to Address a 1.5 Million Unit Shortage Immersive Light Art Experience: Unlike traditional displays, the festival not only allows admiration of the light installations but also encourages touch, movement, and interaction. Visitors become an integral part of the artistic expression, providing a truly immersive experience that sets this festival apart. Free Arts and Crafts Workshops: Complementing the stunning light displays, the festival also offers free arts and crafts workshops for children, fostering creativity and exploration of different art forms. Young minds can indulge in activities like kaleidoscope crafting, recycled luminaries, solar lantern creation, glow jars, glow-in-the-dark painting, and learning the art of creating colorful shadows. Read this also : Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024 Sisters of the Desert at Al Wasl Plaza: Al Wasl Plaza, an iconic structure with a 360-degree projection surface, features extraordinary projection shows known as ‘Sisters of the Desert.’ Inspired by the late Emirati artist Dhabia Juma Lamlah, this showcase pays homage to her artistic legacy and incorporates a multicultural collaboration of artists from Australia, South Africa, and beyond. Engaging Light Displays: The festival includes three remarkable displays: Speed of Light Skate Park: Emirati artist Aysha Al Hamrani presents skateboarding as artistic expression. Solar Canopy: An interactive installation harnessing pedal power on stationary bikes. Elysian Arcs: A walk-through inflatable tunnel with vibrant hues and radiant illumination. Read this also : In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark Free Children’s Workshops Schedule: Kaleidoscope Craft (6-12 years): Daily from 6 to 11 PM Recycled Radiance: Upcycled Luminaries Solar Lanterns Glow Jars Glow in the Dark Painting Colourful Shadows Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments Getting There: Expo City Dubai is easily accessible by Dubai Metro (Red Line), car (via Expo Road E77), or taxi (using ride-hailing services like Careem or Uber). Expo 2020 Metro Station and designated parking areas for Opportunity, Mobility, and Sustainability are available. Conclusion: Whether you’re a lover of art, culture, or seeking a unique experience, the ‘Dhai Dubai Light Art Festival’ promises enchantment and lasting memories. Immerse yourself in the magic of light, embrace Emirati talent, and celebrate the fusion of art and culture at this extraordinary event.

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Revolutionizing Saudi Arabia's Housing Sector: PwC Advocates for Off-Plan Residential Offerings to Address a 1.5 Million Unit Shortage

Revolutionizing Saudi Arabia’s Housing Sector: PwC Advocates for Off-Plan Residential Offerings to Address a 1.5 Million Unit Shortage

February 3, 2024

Unlocking valuable insights, PwC Middle East’s latest report titled “Saudi Arabia’s off-plan market: A driving force fueling a vibrant and sustainable society” sheds light on the pivotal role off-plan sales models can play in alleviating the housing gap of 1.5 million units in Saudi Arabia. This strategic approach not only enhances the efficacy and affordability of the real estate market but also aligns with the ambitious goals outlined in Saudi Vision 2030. Read this also : Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024 Key Findings and Objectives: Saudi Arabia aims to elevate homeownership from the recorded 47 percent in 2016 to an ambitious 70 percent through the National Housing Program. To achieve this, a significant annual increase of 1.5 million residential units, or 115,000 units yearly, is imperative. Initiatives by the Kingdom’s National Transformation Program and the Ministry of Municipal and Rural Affairs and Housing (MoMRAH) include ready-to-move-in units, financial institution housing assistance, and a legislative framework for housing initiatives. Read this also : In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark Off-Plan Properties as Catalysts: Off-plan properties emerge as an opportunity for both domestic and foreign investors to contribute to more affordable housing options in a well-established real estate market. These sales models, tailored for various beneficiary segments, not only stimulate growth in the banking industry but also foster multiple property purchases, driving expansion in the real estate brokerage sector. Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments National Housing Program Driver: Imad Shahrouri, PwC Middle East’s housing and real estate cluster leader, emphasizes the significance of off-plan sales in the National Housing Program. These sales have accelerated home ownership, empowered developers to undertake large projects, and facilitated collaboration across the real estate ecosystem. Rising Trends and Challenges: Off-plan property sales in Saudi Arabia witnessed a remarkable 52% growth in the first half of 2023 compared to the same period in 2022. However, challenges such as consumer preference for ready-made units, project location concerns, rising interest rates, shortage of experienced developers, and quality assurance issues pose obstacles. Read this also : In 10 Years, Sharjah Millionaires Projected to Surge by 120%; Dubai Ranks Third in BRICS Bloc Wealth Strategic Solutions: Overcoming barriers requires a cultural shift, efficient marketing strategies, and proper pricing for off-plan sales acceptance. Addressing location concerns involves understanding the importance of proximity to essential services. Balancing financing demands and liquidity is crucial amidst rising interest rates. To tackle the scarcity of developers, Saudi Arabia should attract regional expertise and train local developers. Quality assurance measures and timely project completion are essential to build investor confidence. Fulfilling Vision 2030: Successful implementation of off-plan sales can enhance the efficiency of Saudi Arabia’s real estate market, attracting local, regional, and international developers. Overcoming obstacles is crucial to realizing the full potential of off-plan sales, advancing Vision 2030’s objectives, and fortifying the Kingdom’s collaborative real estate ecosystem.

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Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024

Ensuring a Smooth Start: Understanding UAE School Age Requirements for 2024

February 3, 2024

Embarking on the journey of sending your child to school is a momentous occasion for parents, filled with excitement and perhaps a touch of anxiety. Navigating the enrollment process becomes crucial, particularly when considering the minimum age requirements set by the Ministry of Education (MOE) in the UAE, as outlined in Resolution No. 24, effective since 2021. Read this also : In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark Age Requirements Breakdown: Pre-Kindergarten: For schools starting in September, children entering FS1 or Pre-KG must be three years old on or before August 31st. For schools commencing in April, children enrolling in Pre-KG must have reached the age of three on or before March 31st. Read this also : Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai Kindergarten: For schools starting in September: Children entering FS2 or KG1 must be four years old by August 31st. Children entering Year 1 or KG2 must be five years old by August 31st. For schools commencing in April: Children enrolling in KG1 must be four years old by March 31st. Children enrolling in KG2 must be five years old by March 31st. Read this also : Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai Primary/Elementary School: For schools starting in September, children entering Grade One or Year 2 must be six years old by August 31st. For schools starting in April, children entering Grade One must be six years old by March 31st. Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments Age Calculators for UAE Schools: To simplify the admission process, many private schools in the UAE provide online age calculators on their official websites. Parents can input their child’s date of birth and the academic year, and the system will generate the eligible grade or year group. This user-friendly tool empowers parents with accurate information, streamlining the admission process and aiding informed decisions for their child’s education. By utilizing the online age calculator, parents can ensure a seamless and well-informed start to their child’s educational journey.

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In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark

In January 2024, Abu Dhabi’s Real Estate Transactions Surpass $1.36 Billion Mark

February 3, 2024

In the initial month of 2024, Abu Dhabi’s real estate market witnessed a remarkable surge, with transactions reaching an impressive $1.36 billion. A total of 1,386 sales and mortgages were recorded across diverse real estate units in the Emirate, contributing to a substantial AED 5 billion in total real estate transactions. Read this also : Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai The Department of Municipalities and Transport in Abu Dhabi, in association with the “DARI” platform, reported 635 registered mortgage deals, amplifying the overall value of real estate mortgages in the emirate to approximately AED 2.6 billion. Complementing this, there were 751 sales transactions, comprising 363 ready properties and 388 off-plan properties, collectively surpassing AED 2.5 million in total sales value since the beginning of the year. Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments The platform highlighted the most significant transactions for Abu Dhabi City over the past seven days, with “Prestige Tower” in Mohamed bin Zayed City securing the top spot at AED 16.6 million. Following closely, “Mamsha Al Saadiyat” on Saadiyat Island claimed the second position with a substantial AED 12.7 million transaction. Read this also : In 10 Years, Sharjah Millionaires Projected to Surge by 120%; Dubai Ranks Third in BRICS Bloc Wealth The success of Abu Dhabi’s real estate industry is attributed to the Department’s commitment to high-quality real estate projects and various strategic initiatives launched by the city’s real estate entities. These efforts not only enhance the sector’s global competitiveness but also solidify Abu Dhabi’s position as an attractive investment destination for both domestic and international investors.

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Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai

Bur Dubai Area Guide: Unveiling the Charms of Mainland Dubai

February 2, 2024

Discover the historical tapestry of Bur Dubai, nestled on the western side of Dubai Creek. Once connected by traditional Abras, this district has evolved, now linked by the Floating Bridge, Al Maktoum Bridge, and Al Shindagha Tunnel, seamlessly connecting Bur Dubai and Deira. Immerse yourself in the Al Fahidi Historical District, fondly known as Bastakiya Dubai. Read this also : Dubai Office Space Market Defies Remote Work Expectations with 44,000 Square Meters of New Developments A Glimpse of History: Bur Dubai boasts an array of historical gems, including the renowned Dubai Museum, The Ruler’s Court, Al Fahidi Historical District, and Al Shindagha Historical District. Admire the Grand Mosque, distinguished by the city’s tallest minaret and the enchanting blue-tiled Iranian Mosque. Ease of Access: Situated at the crossroads of Deira and Downtown Dubai, Bur Dubai offers swift access to various parts of the city through the E11 Sheikh Zayed Road and E66 Dubai-Al Ain Road. Read this also : In 10 Years, Sharjah Millionaires Projected to Surge by 120%; Dubai Ranks Third in BRICS Bloc Wealth Landmarks at Your Doorstep: Al Maktoum International Airport: 48 minutes Palm Jumeirah: 24 minutes Ibn Battuta Mall: 28 minutes La Mer by Meraas: 19 minutes Mall of the Emirates: 19 minutes The Walk JBR: 27 minutes Dubai Mall: 12 minutes Burj Al Arab: 23 minutes Dubai International Airport: 30 minutes Luxurious Stays: Indulge in opulence at some of the finest hotels in Bur Dubai: Grand Hyatt Dubai Hilton Garden Inn Dubai Al Jadaf Culture Village Park Regis Kris Kin Hotel Palazzo Versace Dubai Raffles Dubai XVA Art Hotel Educational Hub: Bur Dubai hosts top-notch educational institutions, including: Hope Montessori Nursery Chubby Cheeks Nursery British Orchard Nursery Indian High School Dubai Gem Private School GEMS Winchester School St. Mary Catholic High School Lycée Francaise International Healthcare and Wellness: Experience superior healthcare services at hospitals like Mediclinic, Medeor, and Aster Clinic, with an Aster Hospital in the Al Mankhool area. Recreation and Landmarks: Families revel at Al Nasr Leisureland, while tourists explore the historic Bastakiya district and Dubai Museum. Zabeel Park, home to Dubai Frame and Dubai Garden Glow, offers leisure and tranquility. The Dubai Creek Golf and Yacht Resort, nestled in Deira, beckons the city’s elite. Pros and Cons: Pros: Easy access to landmarks Ideal for expat families Excellent public transport connectivity Multicultural community Diverse property options Abundance of recreational facilities Cons: Limited parking spaces Peak hour traffic congestion Explore Bur Dubai – where history meets modernity, creating a vibrant community catering to residents and visitors alike.

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