The Dubai Land Department (DLD), in partnership with Dubai Holding Community Management, has approved a three-year fixed fee for the Palm Jumeirah Master Community.
The new mechanism enables joint-owned companies (Jop) to manage and secure a three-year budget approval through the ‘Mollak’ system, while maintaining the option of entities that wish to continue using the one-year budget model.
The Initiative is designed to monetize the service and strengthen long-term financial planning by allowing management companies to enter into multi-year contracts with service providers.
Palm Jumeirah service fee
This approach provides greater clarity and certainty for owners and investors and improves transparency in the management of properties and communities.
DLD described the adoption of this three-year mode as a line of strategies carried out by the Department of Asset Management in conjunction with developing the ‘Mollak’ program and supporting a mature phase of public administration in Dubai.
The model is expected to improve market stability and visibility, while improving the resilience and competitiveness of the Emirate’s real estate sector.
By creating management companies that enable planning of financial obligations and operations over many years, the program promotes effective management, adjustable decision-making and decision-making.
The enhancements to the ‘Mollak’ platform include the integration of powerful digital data and mock verification processes and validation processes, which reduce management time and effort, improve oversight and raise the quality of service for all stakeholders throughout the real estate ecosystem.
Dubai Land Department
Eng. Abdullah Ahmed al shehhi, CEO of Real Estate Real Agency in the Department of Buildings of Dubai, said that the new budget process was started in collaboration with Dumulai Humeirah Master Community and it was the first project approved under the advanced model.
He added: “All public management companies across Dubai can use this new approach, which supports long-term financial planning and improves the sustainability of public finances, and raises the quality of services provided to citizens, owners and investors throughout the emirate.”
The announcement was made during a recent joint venture in partnership with Dubai Hording Community Management.
The session highlighted updates that support multi-year financial planning and the ongoing development of Dubai’s public management practices.
During the workshop, Francis Gianni, CEO Mana Management Community Management, explained the milestones in Dubai managing the portfolio of community management.
Francis Giani, Chief Community Officer of Dubai Bamba Community Management, said: “This debate will greatly improve our strategic planning capabilities, allowing us to approach future projects with greater visibility and clarity.
“Incorporated into this renewed framework, we are committed to implementing long-term enhancements that enrich the community experience and deliver inspiring value to residents of Palm Jumeirah and beyond.”
UDLD said the new process demonstrates its commitment to developing modern programs that meet the needs of the sector, strengthening customer trust and supporting Dubai’s vision of delivering an effective and authentic work experience.
