Emaar certified to offer management services for Owners Associations

Emaar certified to offer management services for Owners Associations

Dubai, UAE; August 22, 2010: Emaar Community Management, a subsidiary of Emaar Properties PJSC, has been licensed by the Dubai Real Estate Regulatory Agency (RERA) to offer management services for the proposed Owners Associations.

RERA had recently issued the direction for Article (2) of Law No (27) of 2007 concerning Jointly Owned Properties in the Emirate of Dubai. Accordingly, all developers have to set up Owners Associations within a stipulated timeframe in Dubai.

These associations will be led by a Board comprising home-owners elected by members of the community, and are to be managed by licensed Association Managers. The managers are appointed by the Owners Associations to ensure that all guidelines outlined by the association are implemented to protect the wellbeing of the community at all times

Initially, Emaar will focus on offering its expertise in community management to the Owners Associations in the developer’s own communities including Downtown Dubai, which is anchored by Burj Khalifa, the world’s tallest building; Arabian Ranches, Dubai Marina, and Emirates Living.

Mr Ahmad Al Matrooshi, Managing Director, Emaar Properties, said: “The certification and licensing of Emaar Community Management highlights our expertise in offering quality managerial services to the Owners Associations. The managers have a key role in upholding the interests of the Owners Associations and ensuring that the community is maintained as per the directives of the homeowners.”

While, Emaar Community Management is the first major company to be licensed to offer Association Management services in Dubai, many of Emaar’s Association Management personnel have been previously certified by the US-based Community Associations Institute (CAI) making them the first personnel in the Middle East with the prestigious certification. The scope of work will cover administrative, financial, technical, and customer service activities for the Owners Association, subject to the instruction of the Board of the Owners Association.

Emaar has already established 16 Interim Owners Associations, several of them in existence much before the recent RERA guidance. The developer is currently reaching out to all home owners in its communities to develop Owners Associations and constitute the boards.

About Emaar Properties PJSC:
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence in key markets world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, healthcare and financial services sectors.

Emaar inaugurated Burj Khalifa, the world's tallest building and free-standing structure, and has opened The Dubai Mall, the world’s largest shopping centre.

In Saudi Arabia, Emaar is developing King Abdullah Economic City, the region's largest private sector-led project in Saudi Arabia, featuring a Sea Port, Central Business District, Industrial Zone, Educational Zone, Residential Communities and Resort District.

Emaar has joined hands with Giorgio Armani to strengthen its presence in hospitality. For more information, visit www.emaar.com