A reduction in the common property service charges was approved for one of The Pearl-Qatar’s Viva Bahriya towers.
This comes a few months after United Development Company (UDC) slashed the master community service charges at The Pearl-Qatar by 33 percent.
At the Annual General Meeting of the co-owners' association of Viva Bahriyah 29, a co-owned property in The Pearl-Qatar, owners approved a budget for the ensuing financial year that will cut common property service charges by 25 percent.
The approved reduction rate applies to all of the 370 individual units that make up Viva Bahriya 29 and covers the lobby, lifts, swimming pool, amenities, security, cleaning and other services considered to be part of the common property.
Administration of the common property falls under ‘The Pearl Owners Corporation’ (TPOC) management, appointed via thje co-owners' constitution.
TPOC, which serves as the appointed manager of the Co-Owners Association, concentrates on 'best value for money' and close monitoring of the facilities services rendered.
In the last financial year, a service charge surplus was achieved, and according to the Co-Owners Association's Constitution, any surplus is to be applied to the next financial year service charges. The surplus is reallocated to the next financial year, bringing the total savings for 2013 in service charges by owners to 45 percent.
Ebrahim Mubarak Al-Sulaiti, CEO of Pearl-Qatar's master developer United Development Company, said: “This is in line with UDC’s vision for The Pearl-Qatar. We are actively striving and supporting all service providers to decrease the cost of living in The Pearl-Qatar, without sacrificing quality and living standards."For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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