Sunday, July 08, 2007

Abu Dhabi realty management - Khalifa Committee

The Abu Dhabi Government had established the Department of Social Services and Commercial Buildings (DSSCB) during 1981, with an intention to organize and centralize all aspects pertaining to real estate sector. The DSSCB is also known as Khalifa Committee.

The main responsibility of the committee was to develop and manage residential properties, protect the right of tenants and maintain social justice. Since then, the committee has developed more than 100,000 residential units and about ninety percent of all buildings in Abu Dhabi are still administered by this committee.

But, with the onset of the economic boon in 2002, the DSSCB has been struggling hard to keep pace with the infrastructural needs of the fast growing emirate. This growth has created blockage in the property market.

The Government however, has been slowly reducing its dependency on the committee, and has been gradually returning the property management responsibilities, back to its owners, and has limited its role in property development.

However, during the recent past, a significant shift has been witnessed in Abu Dhabi's leadership approach to economic development. The Government has now adopted a more vigorous, entrepreneurial stance, enhanced by the empowerment of new generation of policy makers and business leaders. Thereafter, the real estate activities in Abu Dhabi has picked up significantly, permitting even non-nationals to buy leases.

Investments are being made at a rapid pace, on a wide range of new projects, most of which are focused on diversifying the economic base of the emirate and expanding its service sector.

1 comment:

Shoaib said...

Why the rents are on increase day by day in UAE's big cities? I wonder why the government itself is silent on unaffordable rents. Already poor are surviving hardly and the private sector is deef enough to increase salaries of the employees inspite dearness is at peak.