Marwan bin Ghalita, chief executive of RERA, said: “As a customer-centric approach to its services, RERA committed a pilot phase with most management companies, financial auditors and financial institutions for the programme before officially launching it in second quarter of 2019 to high acclaim,” he said.
Through the system, 468 bank accounts were successfully opened for project service charges, 88 management companies and 1,212 real estate projects were registered and approved by RERA, as well as 200,000 real estate units, comprising residential apartments, villas, offices and commercial shops.
“Through the system, RERA seeks to increase the role of governance, regulation, and supervision as well as the participation of private sector specialists to increase real estate
transparency and maintain the balance between real estate developers, management companies, and homeowners,” Bin Ghalita said.
“This is to increase customer satisfaction and happiness in the services provided by Rera as well as facilitate the procedures of real estate unit owners when dealing with management companies and managing service-fee accounts,” he added.