Dubai Property Major Serves Up A Storm In A Tea-cup!

The Dubai rental property segment has seen its share of ups and downs. In the heady last decade when construction was said to be booming, there were new properties being announced almost, on a daily basis. Then, the financial crisis in other parts of the world blew the winds of slowdown towards this prosperous region and things began to unravel, somewhat. Projects started to get shelved; some were abandoned in various stages of construction, due to funding problems and liquidity crunches.

Construction companies were exploring various ways to generate revenue. Somewhere towards the end of last year, a leading construction major, created a huge uproar, when it announced that it would start charging residents for the usage of community facilities and beach access. Citizens all over, were unanimous in their protest against this abrupt decision. Some even alleged that the developer wished to open up the communal areas to outsiders; areas that were promised exclusively to local residents at the time when the contracts were signed. Some were even threatened that they would be arrested if they were found in breach of the new rules.

Thankfully, the Dubai Land Department (DLD) was quick to react to the outcry. Investigations were ordered into the matter, through its Real Estate Regulatory Agency (RERA), to get to the root cause of the problem. The erstwhile property regulator found enough cause for a reprimand. It came down heavily on the property developer for questionable business practices. In an informal decree, it was reported to have said that no property developer held the right to turn communal facilities into elite clubs that restricted entry to the residents of the property. While the matter appears to have been resolved for now, it did bring to light the need for quality guidance when renting a property.

Move in Dubai is a leading rentals company that offers end-to-end solutions to those seeking a quality Dubai rental. In addition to its wide repertoire of Dubai properties for rent, it also offers complete support during the whole process. From assisting prospective clients in their search for properties that are most suited to their requirements, it also provides them with the necessary direction, that they need during the documentation process.