Page 20 - UNION PROPERTIES GENERAL REPORT - April 2024_Neat

Real estate industry executives say that landlords in Dubai and Sharjah will shoulder
the maximum cost for the maintenance of properties due to the floods after the record
rains witnessed last week.

Landlords are currently busy restoring services and bringing their properties back to
pre-flood level.

“Frankly, the landlords have incurred significant expenses due to the damages caused,

which may or may not be covered by insurance. Most landlords are trying to restore
services such as electricity and lifts affected by the rain, aiming to minimise
inconvenience for tenants. If basement parking is flooded, they are doing their utmost to

have the water removed,” said Niral Jhaveri, director of property management at
Betterhomes.

As reported by Khaleej Times, insurance companies are seeing increased claims after
the record rains.

Jhaveri said they were fortunate that none of their managed units were significantly
affected in the rains, but experienced water clogging in the basement, which has

since been cleared.

https://www.khaleejtimes.com/uae/uae-landlords-developers-to-bear-primary-cost-for-property-
damages-after-extreme-weather