Dubai & United Arab Emirates: Jointly Owned Property
Shellei Leonor Gaza Portfolio Manager Community and Owners Association Management Irtikaz Owners Association Management, Irtikaz Group Dubai, UAE
Type of Housing Units Rural Urban Total
Apartments 6,009 575,157 581,166 Villas 12,823 117,712 130,535 Attached Villas 1 612 613 Arabic Houses 396 5,498 5,894 Part of Arabic Houses - 727 727 Room/Rooms 1,353 9,370 10,723 Collective Household 163 4,065 4,228 Other 1,076 597 1,673 TOTAL 21,821 713,738 735,557
Housing Units by Type 2020 - Emirate of Dubai
Dubai Sales Price Index – Location
Community Association Fact Book 2020 Page 1 of 11 Dubai Sales Price Index – Community
Community Median Price Last Community Type (AED/sq ft) month
Al Furjan Apartment 761 0.91%
Villa 685 3.81%
Al Habtoor City Apartment 1,241 -0.51%
Al Khail Heights Apartment 504 -0.88%
Arabian Ranches Villa 883 2.38%
Arabian Ranches 2 Villa 906 0.70%
Barsha Heights (Tecom) Apartment 666 -0.24%
Business Bay Apartment 1,167 -1.06%
City Walk Apartment 1,484 2.22%
Culture Village Apartment 974 -2.03%
Damac Hills Apartment 782 0.39%
Villa 882 3.34%
Discovery Gardens Apartment 499 2.05%
Downtown Dubai Apartment 1,305 0.51%
Dubai Festival City Apartment 833 1.00%
Dubai Hills Estate Apartment 1,194 3.56%
Villa 1,087 3.56%
Dubai Investments Park Apartment 535 6.05%
Villa 583 0.98%
Dubai Marina Apartment 1,054 -0.66%
Apartment 985 4.06%
Community Association Fact Book 2020 Page 2 of 11 Community Median Price Last Community Type (AED/sq ft) month
Dubai Science Park Villa 921 2.47% (DuBiotech)
Dubai Silicon Oasis Apartment 561 2.37%
Villa 618 1.03%
Dubai South Apartment 651 -5.26%
Townhouse 532 -0.34%
Dubai Sports City Apartment 531 -0.81%
Villa 755 2.21%
Dubai Studio City Apartment 624 -0.51%
Emirates Living Apartment 849 1.09%
Villa 948 3.36%
Falcon City of Wonders Villa 556 2.39%
International City Apartment 427 -0.23%
Jumeirah Beach Residence Apartment 932 3.10%
Jumeirah Golf Estates Villa 942 5.90%
Jumeirah Lakes Towers Apartment 749 3.64%
Jumeirah Park Villa 787 2.36%
Jumeirah Village Circle Apartment 722 3.91%
Jumeirah Village Triangle Villa 699 2.32%
Living Legends Apartment 763 -2.76%
Liwan Apartment 433 0.19%
Mohammed Bin Rashid City Apartment 1,337 0.09%
Townhouse 1,346 -0.38%
Community Association Fact Book 2020 Page 3 of 11 Community Median Price Last Community Type (AED/sq ft) month
Motor City Apartment 542 -1.51%
Villa 846 -6.59%
Mudon Villa 854 2.56%
Palm Jumeirah Apartment 1,101 5.71%
Garden Homes 1,958 1.58%
Reem Townhouse 669 3.21%
Remraam Apartment 506 1.20%
The Hills Apartment 1,205 0.60%
The Villa Villa 712 3.69%
Town Square Apartment 929 1.34%
Townhouse 619 2.23%
Community Association Fact Book 2020 Page 4 of 11 COMMUNITY AND OWNERS’ ASSOCIATION MANAGEMENT
Dubai and other Emirates: Getting the Best out of the Community and Owner’s Association Management
Through the aim to be at par of the global real estate market, the Community and Owners Association Management concept has been adopted and implemented in many countries around the world and is known in Dubai as Jointly Owned Property (JOP) Law that was first developed in 2007 under Law Number 27 of 2007.
The Law recognizes Owners Association roles and their responsibilities and enables owners to make decisions on financial governance and operational activities provided to the communities. The JOP Law requires every owner in a jointly owned community or known as freehold community to become a member of the Owners Association.
Transition of the amended Law: Law No. 6 of 2019
As the JOP Law evolves, Real Estate Regulatory Agency (RERA) confirms that Dubai’s real estate market is still in a transitional, the JOP Law has been amended and has been cited as "Law No. (6) of 2019 Concerning Ownership of Jointly Owned Real Property in the Emirate of Dubai".
The provisions of this Law will apply to all Master Projects and Jointly Owned Real Property in the Emirate, including those in Special Development Zones and in free zones, as stated in article (3) of the Law.
In relation to the Owners Associations taking full responsibility for JOP communities and is continuously progressing towards OA’s registration process, considering that Dubai’s real estate market is on its fast recovery path OA’s require certified management companies with the appropriate expertise providing professional services that include administrative, financial and facility management services.
In Dubai, considering that there is around 2,000 communities’ and growing. The OA market is currently dominated by a few relatively large Management Companies, however, size and number of communities in a portfolio not always equals quality. Given the nature of property owners profile in Dubai and other Emirates where most of them leave outside the UAE or travelling frequently outside the country, there are few challenges that both the OA and the management company is tackling.
Community Association Fact Book 2020 Page 5 of 11
Basic Owners Association Management Structure
Jointly Owned Property Law in other Emirates
Abu Dhabi (Capital)
Law 3 of 2015 Abu Dhabi Law No 3 of 2015 Concerning the Regulation of the Real Estate Sector in the Emirate of Abu Dhabi
This law introduces key features to the laws regulating multiply owned developments, freehold developments including: the determination of surveyors’ directions to standardise the area measurement methodology used by developers; provisions for the formation of owners’ associations which will hold title to common property within multiply owned developments and be responsible for its repair and maintenance. Unlike Dubai, each owner’s association will have a prescribed form of constitution, and an owner’s association may itself be a member of a higher owner’s association, thereby permitting the registration of ‘layered’ strata schemes; provisions for the title subdivision into ‘units’ and ‘common areas.
Owners’ Union: The Owners’ Union formed pursuant to the provisions of the law to manage and operate the common parts including repair, maintenance, and proper utilisation thereof.
Community Association Fact Book 2020 Page 6 of 11 Sharjah
Property registration law in 1972 through Law No 10 of 1972. Pursuant to this Law and its Implementing Regulations, a real estate registration office was established in Sharjah which allowed only UAE nationals to own property in Sharjah. Exceptions were permitted only with the Ruler’s approval.
However, in 1980, Law No. 4 was issued which regulated ownership of multi-storied buildings and provided an early concept of jointly owned property/strata ownership. This was enhanced in 1981 by the issue of Amiri Decree No. 1 which further regulated the rights and obligations of each owner in a multi-owned building, together with the management of the building and provided for the formation of a Co-owners’ Association.
Ras Al Khaimah
Law of 2003 Regulating Flat Ownership in Ras Al Khaimah introduced the concept of ownership of apartments and floors in multi-owned buildings, providing greater guidance on the concept of co-ownership than existed under the UAE Civil Code. The Law provides for a system of registration of condominium (strata) ownership along with the identification of flats and floors; a right of pre-emption in favour of other owners in the building if one of the owners in the building decides to sell his apartment; and a simplified procedure regarding reconstruction of a building in the case of a building being destroyed. The Law, however, did not clarify who has a right of ownership, and this was subsequently clarified by Decision No. 20 of 2005.
Ajman
Amiri Decree No. 7 2008 was introduced to permit UAE and GCC nationals (and companies/entities owned wholly by them, together with public joint stock companies incorporated in the UAE and public corporations and authorities incorporated in Ajman) to own a freehold right over land in Ajman.
Additionally, foreigners are entitled to own a right of freehold or usufruct, including long leases for a term of 50 years, with the approval of the Ruler of Ajman.
Subsequently, Amiri Decree No. (8) was issued in 2008 regulating the provisions of jointly owned property and common areas within such property. It also required any developer in Ajman to register as such with the Ajman Land Department, and to open an escrow account for the development project.
Umm Al Quwain
There is no such law yet in the Emirate of Umm Al Quwain, however a legislation issued in 2006, through Law No. 3 allowing ownership by UAE and GCC nationals, and Public Joint Stock companies, to own property anywhere in the Emirate. Foreigners were granted the right to
Community Association Fact Book 2020 Page 7 of 11 own floors without land, together with a 99-year usufruct right or a 50 year musataha (real property right), in designated investment areas.
Al Fujairah
Till date, no specific laws regarding property registration and ownership in the Emirate of Fujairah.
In summary, the adoption of the jointly owned property law and its regulations that benefits investor confidence and certainty, helps increase the UAE freehold market into the emerging competition. It is on a positive drive that the new mandate of this law will help to implement the regulations across the Emirates and will appear in the not-too-distant future.
Community Association Fact Book 2020 Page 8 of 11
OWNERS ASSOCIATION MANAGEMENT COMPANIES IN UAE
AL MUJAMA REAL ESTATE (L.L.C) STAR OWNERS ASSOCIATIONS ABWAB OWNER ASSOCIATION THREE 60 COMMUNITIES MANAGEMENT MANAGEMENT SERVICES L.L.C MANAGEMENT FOR OWNERS ASSOCIATIONS L.L.C FALAK PROPERTIES PLACE STRATA MANAGEMENT PALMA COMMUNITY EMAAR COMMUNITY (L.L.C) MANAGEMENT SERVICES L.L.C MANAGEMENT LLC DMCC BRANCH EMAAR BUSINESS PARK PHASE II SOLITAIRE OWNER ASSOCIATION CAYAN COMMUNITY ORRA DEVELOPERS BUILDING # 2 & 4 (L.L.C) MANAGEMENT SERVICES MANAGEMENT L.L.C MANAGEMENT SERVICES OWNERS ASSOCIATIONS L.L.C JUMEIRAH LIVING L.L.C SAGA INTERNATIONAL OWNER CITYWALK COMMUNITY L.L.C SEVEN TIDES OWNERS ASSOCIATION MANAGEMENT ASSOCIATION SERVICES L.L.C MANAGEMENT (BR OF SEVEN TIDES INVESTMENTS L.L.C) DUBAI COMMUNITY ITIHAD COMMUNITY KAIZEN OWNER ASSOCIATION TAKEED MANAGEMENT MANAGEMENT L.L.C MANAGEMENT MANAGEMENT SERVICES SERVICES REEF CITY REAL ESTATE (L.L.C) PACIFIC OWNER ASSOCIATION PJ COMMUNITY L.L.C VOLANTE LIFE (DUBAI MANAGEMENT SERVICES L.L.C BRANCH) WASL PROPERTIES L.L.C BAY STAR MANAGEMENT & JA HILLS COMMUNITY L.L.C AL JAZIRI OWNERS SUPERVISION SERVICES FOR ASSOCIATION OWNERS ASSOCIATIONS L.L.C S N S PROPERTY MANAGEMENT HIGHRISE OWNERS ASSOCIATION JUMEIRA BAY COMMUNITY ASTECO PROPERTY SOLUTIONS MANAGEMENT SERVICES L.L.C MANAGEMENT LLC STRATA MANAGEMENT SERVICES S G COMMUNITY MANAGEMENT BUNAT AL MUSTAQBAL HOME PLUS HOMES (L.L.C) SERVICES OWNERS ASSOCIATION PROPERTY MANAGEMENT ADMINSTRATIVE SUPERVISION STRATUM OWNER ASSOCIATION PRIME OWNERS ASSOCIATION RAWABET OWNER NSHAMA COMMUNITY MANAGEMENT SERVICES L.L.C MANAGEMENT SERVICES ASSOCIATION MANAGEMENT MANAGEMENT OWNED BY NSHAMA PROPERTIES ONE PERSON L.L.C H & H DEVELOPMENT L.L.C LUXURY OWNER ASSOCIATION ESTEEM GULF OWNER BLUE WATERS MANAGEMENT SERVICES CO. ASSOCIATION MANAGEMENT COMMUNITY L.L.C L.L.C SERVICES Saba Property Management JLT ASSOCIA M E N A OWNERS DESERT SUN MANAGEMENT TIGER HOLDING L.L.C ASSOCIATION SERVICES SUPERVISION SERVICES PRESTIGE OWNERS ASSOCIATION RELIANCE OWNERS ASSOCIATION LA MER COMMUNITY L.L.C AL QUDRA COMMUNITY MANAGEMENT L.L.C MANAGEMENT SERVICES L.L.C BLUE WATERS L.L.C ASTECO OWNERS ASSOCIATION SHAHEEN OWNER LANTANA COMMUNITY MANAGEMENT (BR OF ASTECO ASSOCIATION MANAGEMENT MANAGEMENT L.L.C PROPERTY MANAGEMENT (L.L.C.)) SERVICES WASL OWNERS ASSOCIATION S E M OWNER ASSOCIATION MIHAELA IFRIM DUBAI DISTRICT MANAGEMENT SERVICES L.L.C MANAGEMENT SERVICES MANAGEMENT L.L.C DEYAAR OWNERS ASSOCIATION MACE MACRO OWNER PRISTINE OWNER MERAAS CANAL MANAGEMENT L.L.C ASSOCIATION MANAGEMENT CO ASSOCIATION MANAGEMENT COMMUNITY L.L.C SERVICES WORLD TRADE CENTRE RAFAH OWNER ASSOCIATION MASAKIN OWNERS TAKEED MANAGEMENT RESIDENCE (L.L.C) MANAGEMENT SERVICES ASSOCIATION MANAGEMENT SERVICES AL REEF OWNER ASSOCIATION ALMOOSA OWNERS KHIDMAH L L C - DUBAI PROVIS REALESTATE MANAGEMENT SERVICES DMCC ASSOCIATION MANAGEMENT BRANCH MANAGEMENT SOLE SERVICES L.L.C PROPRIETORSHIP L L C - DUBAI BRANCH HDS OWNER ASSOCIATION SCALA OWNER ASSOCIATION BUNIAH MANZIL OWNER DUBAI COMMUNITY MANAGEMENT SERVICES DMCC MANAGEMENT SERVICES L.L.C ASSOCIATION MANAGEMENT MANAGEMENT L.L.C SERVICES L.L.C (BRANCH) saba property management dmcc EMPIRE ASSET OWNER MERAAS COMMUNITY A S P A REAL ESTATE ASSOCIATION MANAGEMENT MANAGEMENT L.L.C OWNERS ASSOCIATIONS SERVICES MANAGEMENT SERVICES
Community Association Fact Book 2020 Page 9 of 11 UNIVERSAL OWNERS PREMIUM COMMUNITY AMAL OWNERS COMMUNITY ARA OWNER ASSOCIATION MANAGEMENT MANAGEMENT L.L.C MANAGEMENT ASSOCIATION SERVICES MANAGEMENT SERVICES KINGFIELD OWNER ASSOCIATION ALMUTAWA OWNER CLARITY OWNERS SHEFFIELD OWNERS MANAGEMENT SERVICES ASSOCIATION MANAGEMENT ASSOCIATION MANAGEMENT ASSOCIATION L.L.C MANAGEMENT SERVICES L.L.C OUTLOOK COMMUNITY SPORTS CITY OWNER AL KHAIL TOWERS DEYAAR COMMUNITY MANAGEMENT ASSOCIATION COMMUNITY L.L.C MANAGEMENT L.L.C MANAGEMENTSERVICES L.L.C
EMAAR HOSPITALITY SAGA OA DMCC S G COMMUNITY KINGFIELD OWNER COMMUNITY MANAGEMENT L.L.C MANAGEMENT SERVICES ASSOCIATION (DMCC BRANCH) MANAGEMENT SERVICES DMCC ADVENTUS OWNERS MEYDAN SOBHA LLC-FZ Place strata management L.l.c MANSIONS OWNERS ASSOCIATION MANAGEMENT (dmcc branch) ASSOCIATION L.L.C MANAGEMENT DMCC ADEO OWNERS ASSOCIATION Tayeed Owner Association Key Signature Owner K E P ASSOCIATION & MANAGEMENT SERVICES L.L.C Management Services Owned by Association Management PROPERTY MANAGEMENT Al Mazaya Holding CO KSP (One Services L.L.C FZE Person Company) LLC DPCM L.L.C MEYDAN SOBHA LLC-FZ CORE OWNERS ASSOCIATION G C O MANAGEMENT & MANAGEMENT L.L.C (DMCC SUPERVISION SERVICES BRANCH) FOR OWNERS ASSOCIATIONS DPCM L.L.C (BRANCH) PANDA OWNER ASSOCIATION DSO COMMUNITY A S P A REAL ESTATE MANAGEMENT SERVICES L.L.C MANAGEMENT-FZE OWNERS ASSOCIATIONS MANAGEMENT SERVICES GOLDEN VALLEY OWNERS SNS OAM Solutions DMCC Nakheel Strata Management Universal Owners ASSOCIATION MANAGEMENT L.L.C Association SERVICES L.L.C AL REEF OWNER ASSOCIATION Deyaar owner association Hira Global DMCC Takeed Management MANAGEMENT SERVICES L L C management LLC (DMCC Branch) Services SHARAF OWNER ASSOCIATION Itihad Community Management T M C MANAGEMENT & ACE OWNERS MANAGEMENT L.L.C DMCC SUPERVISION SERVICES FOR ASSOCIATION OWNERS ASSOCIATIONS MANAGEMENT ONE WORLD MANAGEMENT AND ALMUDEER MANAGEMENT & Dmcc Community Legacy Owner Association OWNERS ASSOCIATIONS L.L.C SUPERVISION SERVICES FOR Management Dmcc Management OWNERS ASSOCIATIONS P I D OWNERS ASSOCIATION Emaar Community Management Hds Owner Association Mace Macro Owners MANAGEMENT (BR OF (L.L.C) Management Services Dmcc Association Management PROPERTIES INVESTMENT (L.L.C.)) Co DMCC TAYEED OWNER ASSOCIATION A R B OWNER ASSOCIATION IRTIKAZ OWNERS V C M COMMUNITY MANAGEMENT SERVICES OWNED MANAGEMENT SERVICES ASSOCIATION MANAGEMENT MANAGEMENT BY MAZAYA ALGHAD ONE PERSON COMPANY L.L.C KEY SIGNATURE OWNER EDACOM OWNERS ASSOCIATION ROYAL AVENUES OWNERS MARF MANAGEMENT & ASSOCIATION MANAGEMENT MANAGEMENT L.L.C ASSOCIATION MANAGEMENT SUPERVISION SERVICES SERVICES L.L.C ONE PERSON COMPANY L.L.C FOR OWNERS ASSOCIATIONS ROYAL AVENUES OWNERS DSO COMMUNITY MANAGEMENT SIGMA HOMES OWNERS PACIFIC COMMUNITY ASSOCIATION MANAGEMENT FZE ASSOCIATION MANAGEMENT MANAGEMENT DMCC ONE PERSON COMPANY L.L.C SERVICES TANSEEQ MANAGEMENT & HIGHRISE OWNERS ASSOCIATION ALLIED ACCOUNTING & ROSE CONTINENTAL SUPERVISION SERVICES FOR MANAGEMENT SERVICES DMCC AUDITING (CHARTERED OWNERS ASSOCIATIONS OWNERS ASSOCIATIONS ACCOUNTANTS) MANAGEMENT L.L.C ASSOCONNECT OWNER DHCC Community Management ADVENTUS OWNERS MURABA MANAGEMENT ASSOCIATION MANAGEMENT FZ-LLC ASSOCIATION MANAGEMENT & SUPERVISION SERVICES SERVICES EST. L.L.C FOR OWNERS ASSOCIATIONS L.L.C
Community Association Fact Book 2020 Page 10 of 11
NEW INFORMATION
29 APRIL 2021 ISSUED: GULF NEWS
Abu Dhabi: The UAE Federal National Council has approved a draft law on Homeowners Association, to help regulate the management and maintenance of property. The law shall apply to every building developed by federal authorities in any area of the country, including free zones, and those properties developed by other parties after approval of the concerned emirate. according to the draft law, the following are common areas - the land for the building, the building's structure, foundation, pillars, columns and walls. Common ownership will also apply to the walls between units, service rooms, places designated for waste and ventilation skylights, kitchens, entrances, facades, stairs, corridors, basements, elevators, emergency exits, and other types of installations.
The Ministry of Infrastructure Development and the competent authority may issue decisions to add any other common parts. Under the law, penalties stipulated in this law do not prejudice any other severe punishment stated in any other law.
Penalties are stiff
These include imprisonment for a period not exceeding one year and a fine not less than Dh500,000, but not exceeding Dh1 million, for the following offences: Dealing with others in the name of the owners’ association before registering it at the ministry or competent authority, and assuming the capacity of a chairman or director of an owners’ association.
Also punishable by imprisonment for a period of at least a year and a fine not less than Dh100,000 for submitting budgets or invalid contracts without the knowledge of OA board.
A penalty of imprisonment for a period of at least a year and a fine of not less than Dh500,000, but not more than Dh2 million, shall be inflicted on whoever embezzles or squanders money from the association’s funds, or facilitates others seizing it.
Community Association Fact Book 2020 Page 11 of 11