Dubai homeowners association allowed bank accounts from September

Homeowners’ associations in Dubai have been given the green light by the Real Estate Regulatory Agency (Rera) to open bank accounts from September, Emirates 24-7 has reported. “We expect to soon sign agreements with four banks and will begin to activate the new accounts in September,” said Mohammed Khalifa bin Hammad, senior director at Rera. “These accounts will facilitate the work of these associations particularly in collection and spending amounts related to services of buildings.”

via Dubai homeowners association allowed bank accounts from September | Real Estate | AMEinfo.com.

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