The Dubai Land Department (DLD), through its Real Estate Regulatory Agency (RERA), has taken a significant step towards enhancing property management and community engagement by announcing the formation of 127 new owners’ committees across the emirate.
This initiative aims to do the following —
- Empower property owners
- Foster active participation in the management of jointly owned properties, aligning with Dubai’s vision to lead the global realty sector
These committees will serve as —
- vital platforms for improving the quality of life
- promoting community well-being in residential areas
- reviewing budgets
- setting maintenance priorities
- overseeing shared services
- contributing to more efficient management of properties
RERA has opened registration for eligible property owners, with each committee limited to nine members to ensure focused decision-making. To ensure smooth operations, the agency will do the following —
- oversee the workflow
- coordinate between management companies and owners’ committees
This move will influence Dubai’s property market, such as —
- enhance transparency
- potentially increase property values
- boost investor confidence
The initiative comes at a time when Dubai’s property market is showing signs of stabilization. Recent data indicate a slight cooling in the general market while the luxury segment continues to thrive.
Property owners and residents are viewing the committees as —
- a means to address concerns
- influence community development more effectively
As these committees take shape, industry stakeholders will closely monitor their impact on Dubai’s real estate landscape.