This mechanism aims to support the stability of service fees and enhance long-term financial planning efficiency by enabling management companies to enter into long-term operational contracts and increase transparency in managing buildings and complexes. The Dubai Land Department, in cooperation with Dubai Holding Communities, has, for the first time, approved the fixing of service fees for the "Jumeirah Palm Main Complex" for a period of 3 years. The new mechanism allows property management companies with joint ownership to submit and approve a three-year service fee budget through the "Mawakeb" system, while also allowing the option to continue approving budgets annually for those who prefer it.
