Charges Payable on Handover

Assuming you bought an apartment with the following details:

Purchase Price AED 550,000
Built up area of 900 sq ft (excluding parking)
Maintenance Charge of AED 10 per sq ft
Exchange Rate is £1 = AED 5.5

You can expect the following additional payment on handover:

Maintenance Charges for First Year AED 9,000 £1,636
Fewa connection charges AED 8,500 £1,546
Electriicty meter deposit AED 1,000 £181
Registration land deposit (2% of original price) AED 11,000 £2,000
Total AED 29,500 £5,363

The Fewa connection charge and electricity meter deposit charge may vary depending on the type and size of unit you own.

Investors have expressed concern over the large Fewa connection charge, as they feel this was included in the purchase price.

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3 Comments

  1. Palmtree said,

    11 February 2009 at 8:14 pm

    I am disappointed and not happy to pay the FEW huge connection charges for the marina apts.
    I did not expect to have bought an apt anywhere in the world not connected to water and electricity!!! or to pay such fees.

    This will send alarm bells to investors to future investments in RAK.

    FEW connection charges is very unfair and I will dispute this with the developer and hope every body else do the same rather just pay it ,otherwise we will be taken for a ride on other charges too.

  2. Jenny said,

    14 February 2009 at 2:09 pm

    I bought an apartment in phase 1 of Al Hamra. When it was handed over in June 2007 there existed the following costs:

    Maintenance Fee AED 4,142.60
    Elec. & Water Connection Charges AED 4,760.13
    Meter Registration (FEWA) AED 1,000.00
    2% Land Registration AED 8,200.00
    AED18,102.73

    Of course I’d rather not pay them, but these costs aren’t anything new and have been there since the begining & have nothing to do with Al Hamra all of a sudden trying to squeeze more money out of us.

    Yes, they should have informed us of these charges from the very begining.

  3. alhamradreams said,

    11 March 2009 at 3:05 pm

    Recently posted on EyeOnWorldwide:

    Other charges relating to a 2 bed apartment in block D:

    Project Maintenence fee for first year 9,770.51
    Electricity and wter connection charges 12,500.00 (might change)
    Electricity meter deposit 1,000.00
    2% Registration fee (2%) 12,972.00

    They take the registration fee and deal with the local authority, you can move in before the title deed is issued, which takes a couple of weeks.


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