Uae developers need to improve apartment handovers says cluttons

The international agency group Cluttons has accused developers based in the UAE of not trying hard enough to hand over the management of apartment blocks to their owner associations because of the financial gains involved.

"I don't think there is a genuine attempt being made to hand over to the owners,” Graham Yeates, head of owners association management at Cluttons told OPP.

“As other revenue streams dry up, developers see the opportunity of making a profit from service charges/interim owners association (IOA) so there is little incentive to register the owners association as required by the regulations."

Source: OPP