The Abu Dhabi developer Sorouh Real Estate is not waiting for the release of emirate's strata law to create homeowners associations for its completed Reem Island projects.
The company has prepared what it calls a Strata Title Ready structure for owners in the Sun and Sky Towers, which are scheduled for handover in the next two months.
There are more than 1,150 apartments in the two Reem Island towers.Construction on the project is complete but Sorouh said it was waiting for regulatory approvals before it can start turning over apartments to buyers.
It is moving forward with plans to form a homeowners association, however, even though Abu Dhabi has yet to finalise the legal guidelines for such groups.
In a presentation to owners at Sun and Sky, Sorouh said it would remain the owner of the land and common areas until the strata law is finalised.
Once the law is in place, control will pass to the homeowners association.
"The law makes the system mandatory, therefore it is logical to implement the structure now," Sorouh said in the presentation. Implementing the regulations will ensure that residential owners "do not incur any costs related to the commercial or retail owners" in the developments, Sorouh said.
[ kbrass@thenational.ae ]
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