Nakheel creates in-house owners association division

Nakheel creates in-house owners association divisionImage Credit: Supplied

The master-developer Nakheel has launched an in-house owners association (OA) management division to offer services to strata-owned properties that are not built by it.

The intention of creating Nakheel Strata is to add to the OA management it already undertakes at its many developments. Currently, these cater to 70,000 residents across 11 communities and 27,000 units in Dubai.

''We are already a serious force in this sector as the size and depth of our current portfolio gives us unmatched buying power with which we can achieve competitive rates — and therefore the best value — for our customers,'' said Ali Rashid Lootah, chairman. ''We look forward to quickly establishing Nakheel Strata as Dubai's — and potentially the UAE's — Owners' Association Management company of choice.''

As of now, Nakheel Strata's portfolio covers nearly 350 buildings across Dubai, including the Palm Jumeirah's Marina Residences, Golden Mile, Shoreline Apartments and Palm Views, among others. There are also the 240 buildings in International City.

''The appointment of a skilled, experienced OA management firm enhances the value of properties, leading to a higher return on investment for owners and, for tenants, a desirable community in which to live,'' said Lootah.

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Source: Staff Report, gulfnews.comGN


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