Nakheel lowers Discovery Gardens service charge

Dubai-based master developer Nakheel announced on Sunday it is lowering the service charge for Discovery Gardens following a review of scope and suppliers.

The new rate, which has been formally agreed with Dubai's Real Estate Regulatory Agency (RERA), means a reduction of about AED5 per square foot.

The new rate will also be backdated to January 1, 2009, with any rebates being credited against next year’s service charge which begin on October 1, the company said in a statement on Monday.

Abdulrahman Kalantar, managing director of Nakheel Asset Management and Design (NAMAD), said: “When we first set the service charges for Discovery Gardens, they were based on our best estimates for this new Nakheel community.

“Following a lengthy review, we have been able to take advantage of recent reductions in the cost of goods and services, which has in turn reduced our overall service charge budgets.”

Service charges are set according to projected costs and all accounts are independently audited, Nakheel said.

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