A developer may use Common Facilities for profitable commercial purposes, but only after obtaining DLD approval. If such approval is granted, the developer is legally required to deposit a percentage of the net profits generated from that use into t…
A developer may use Common Facilities for profitable commercial purposes, but only after obtaining DLD approval. If such approval is granted, the developer is legally required to deposit a percentage of the net profits generated from that use into the community's Usage Charges account. This deposit must be made within ten days of collecting the proceeds. This ensures the community benefits financially from the commercial exploitation of shared amenities, supporting the overall maintenance and operation of the project.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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