Skip to content Skip to Search
Skip navigation

Abu Dhabi property service charges cut by 6% in 2023

By Pramod Kumar
Cuts in service and community charges for Abu Dhabi property owners resulted in year-on-year savings of AED39.7m Wam
The villa development on Al Raha Beach is slated for completion in the last quarter of 2027

Service and community charges for property owners in Abu Dhabi fell six percent in 2023, resulting in savings of AED39.7 million ($10.81 million) year on year.

The total approved budgets for jointly owned property development projects reached AED 685 million by the end of Q4 2023, state-run Abu Dhabi Media Office reported, citing Abu Dhabi Real Estate Centre.

“These reductions are anticipated to streamline property management, cut operational expenses, elevate returns on real estate investments, and uphold competitive pricing for homeowners in Abu Dhabi, both locally and regionally,” the centre added.

Service charges cover the costs of managing and maintaining communal areas in property developments.

In 2020, the Department of Municipalities and Transport – Abu Dhabi introduced a fee monitoring system to regulate service and community charges, fostering sustainable growth in Abu Dhabi’s real estate sector.

This framework safeguards the rights of owners and developers by ensuring fair pricing, resulting in service charge reductions of 18.1 percent in 2020, 8.3 percent in 2021, and over six percent in 2022.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]