If a developer is approved by the DLD to use Common Facilities for profitable commercial purposes, they must contribute back to the community fund. Specifically, the developer must deposit a percentage of the net profits generated from such commerci…
If a developer is approved by the DLD to use Common Facilities for profitable commercial purposes, they must contribute back to the community fund. Specifically, the developer must deposit a percentage of the net profits generated from such commercial use into the community's Usage Charges account. This deposit must be made within ten (10) days of collecting the proceeds. The specific percentage of profit to be shared is determined by a resolution issued by the Director General to benefit the overall maintenance 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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