In order to control the tendering procedures for all issues relating to services and maintenance for the jointly owned property (JOP) sector, the Dubai Land Department (DLD) introduced a new service on Monday.
According to the DLD, the Munaqasat service, which was introduced by the Real Estate Regulatory Agency (RERA), will increase transparency in the industry and provide top-notch services at reasonable pricing.
The Mollak system’s Munaqasat, which facilitates and streamlines the tendering process and creates a direct connection between jointly held property firms and service providers, helps the comprehensive management of JOPs in Dubai.
Following the submission of their 2024 budgets on the system, JOP enterprises are required by Munaqasat to submit all tenders through the platform, according to Mohammed bin Hammad, Director of the Jointly Owned Property Department. The 2024 budget submission deadline is October 2023. Then, a finance team assesses the technical aspects and determines costs for each necessary service after a specialized technical team submits assignments, evaluates firms, and makes suggestions. The final tender is chosen based on an average of the technical and financial rankings.
Tenders are then launched, enabling service providers to take part in the new service. These suppliers have the option to sign up as suppliers, which gives them access to all relevant tenders based on their registered activities. This strategy increases transparency and prevents any unethical behavior.
By 2024, Munaqasat will offer additional capabilities beyond its original services for jointly owned property businesses and service providers, enabling property owners to assess the performance of service providers. The portal will also give owners’ committees access to given tenders, thus increasing openness and engagement in the real estate industry.
The fully digitalized Munaqasat service promotes the provision of precise budgets for service fees and maintenance work and is in line with Dubai’s Digital Strategy.
Eng. Marwan bin Ghalita, CEO of the Real Estate Regulatory Agency at RERA: “The JOP sector holds great significance in Dubai and contributes to the development of the broader real estate sector. It underscores our commitment to sustainability, innovation, and meeting the needs of investors and residents alike. Providing an integrated service for organizing and regulating tenders related to maintenance services will foster a healthy and transparent environment in the real estate market. This, in turn, will promote the competition necessary to deliver the highest quality service standards.”