Abu Dhabi Real Estate Centre (ADREC), part of the Department of Municipalities and Transport – Abu Dhabi (DMT), has reported a 6% reduction in service and community charges for jointly owned property for owners and investors in Abu Dhabi’s real estate sector in 2023, amounting to a total reduction of AED39.7 million compared to 2022.
The centre also disclosed that the total value of budgets for jointly owned property development projects that received approvals until the end of the fourth quarter of 2023 reached AED685 million.
ADREC indicated that the lowered fees…
