Bunat Al Mustaqbal
The principal objective of Bunat Al Mustaqbal is to organize the relationship between the owners and occupants and to put in place laws, regulations, control mechanisms, organizing facilities management services.
Bunat Al Mustaqbal’s Values:
■ Integrity and Transparency
■ Value and Quality Services
■ Excellence and Accountability
■ Employee Engagement
■ Canal Star
■ Tiger 2
■ Al Sondos
■ Marina Pinnacle Tower
■ Dana Tower
Bunat Al Mustaqabl’s Services
1- Administrative Supervision of the Owners Association
■ Development of long term management strategies for the Jointly Owned Property.
■ Obtaining and renewing licenses and attending to Government registration processes on behalf of the Owners Association.
■ Prepare agendas and notices of all meetings (Board Meetings, Annual General Meeting, and Extraordinary General Meeting).
■ Collection of service charge payments for the Owners Association.
■ Communicating complaints & requests from owners in relation to common property areas.
■ Renew insurances.
2- Financial Management and Collection
■ Opening, operating and reconciling a trust account in the name of Owners Association, including the collection and banking of owners’ maintenance payments and other receipts into this bank account.
■ Preparation of annual service charge budgets and financial statements.
■ Establish and maintain General and Reserve Funds.
■ Monitor Service Charge arrears, collect and deposit to the bank account.
■ Process and pay invoices for work carried out on behalf of the owners association.
■ Accounting for and reporting on all technical, administrative, financial and regulatory matters.
■ Arrange annual financial audits
3- Facility Management
■ Facilities management contract procurement and service level supervision.
■ Prepare, implement and coordinate a preventative maintenance program.
■ Arrange quotations for all services and remedial work.
■ Arrange and coordinate repairs and maintenance.
■ Supervise repairs and warranty claims in relation to common areas.
■ Fire Safety compliance and EHS compliance.
4- Legal Services
■ Maintain all legal records of community, Association constitution, Board Resolution, Sites Plan, and keep confidentiality of all records.
■ Fulfilling all statutory requirements imposed by the relevant authorities like Dubai Municipality, RERA, Dubai Police & Dubai Civil Defense.
■ Advise on sending legal notices to the owners (defaulters)
■ Government Relations and Liaisons with Local Authorities
■ Owners Association Government Permits and Licenses Exclusion
■ Any official or authority fess related to the building operation
■ Fines / Penalties imposed by official parties due to residents actions
■ Emergency Evacuation Plan
■ Other services not mentioned within the scope of work which may arise during the contract period