Some JLT Clusters will have controlled access to DMCC Parking by 3rd Quarter of 2011

June 22, 2011 - PRLog -- Throughout JLT DMCC sold to sub-developers, exclusive use rights to parking bays within its parking structures in each cluster. Sub-developers then sold these exclusive use rights to the end users. Till date the Parking structures were freely accessible to both residents and visitors without any restrictions with ample parking available for everyone. However, increasing pressure from end users, the unit owners, that there parking bays must be allocated is the driving force behind DMCC’s decision to fulfill its contractual obligation.
Now that DMCC has made necessary arrangements to install the access control system, reservations from different quarters are in the air. People who have one bay allocated will have access to that particular bay only. There would be plenty of cars outside the parking barriers and even more empty bays inside the barrier.
Will this be the right opportunity for bulk buyer of parking bays to realize their investment? Would the installation of access control result in an extremely inefficient system? Or will it give an opportunity to owners who could not rent their units to at least rent the parking bays? The answers to these questions will become evident in a few months time when the barriers will be down.

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Itihad Community Management (ICM) is amongst the pioneers of Jointly Owned Property Management (aka Strata Management) in Dubai.
ICM is currently rendering management services to its clients in Dubai and will soon commence operations in Abu Dhabi.