Palm Jumeirah gets fixed 3-year service fee rule

First multi-year service fee structure for jointly owned properties in Dubai

- BY JUSTIN VARGHESE Your Money Editor

Dubai Land Department approved a three-year fixed service-fee structure for the Palm Jumeirah Master Community in coordination with Dubai Holding Community Management. It is the first time a multiyear service-fee mechanism has been introduced for jointly owned properties in the emirate.

The new framework allows community management companies to submit and obtain approval for a three-year budget through the Mollak digital system. Companies may continue using a one-year budgeting cycle if preferred.