Enhanced management of TECOM Group communities

Transcription

1 Enhanced management of TECOM Group communities

2 Dr Amina Al Rustamani Group CEO TECOM Group Over the past 16 years, TECOM Group has championed the creation of vibrant, collaborative communities and work environments across Dubai. Through our communities, we have enabled business success and pioneered knowledge and innovation, attracting companies and talent from around the world. Our 10 business communities now provide a home in the region to over 5,100 companies, with a total workforce of 76,000, and we are committed to providing the best possible environment to all of our business partners and stakeholders. The launch of TECOM Management (TCM) is part of TECOM Group s continued focus on enhancing our communities and supporting business growth, and the outcome of an in-depth project drawing on the expertise of specialist consultants, and extensive global benchmarking and analysis. Led by my esteemed colleague Abdulaziz Al Gargawi and his team, I am confident that TCM will bring significant added value across our business communities, and most importantly, to our investors. Abdulaziz Al Gargawi CEO TECOM Management TECOM Management is an independent entity that has been created to manage, maintain and enhance all of TECOM Group s communities across Dubai, ensuring added value for our investors, and vibrant communities for all of our stakeholders. Through TCM, our aim is to ensure our communities are managed to the highest international standards, with a team of dedicated staff who have expertise across all aspects of community management. Our team have experience in managing investor relations, maintaining infrastructure assets as well as ensuring the optimal regulatory environments are in place, and together we work hard to ensure your investment is protected, and value is added in the process, not just in the short term, but for the foreseeable future.

3 TECOM Group doesn t just deliver business parks, we deliver real communities PALM JEBEL ALI PALM JUMEIRAH DUBAI MARINA IBN BATUTA MALL THE WORLD AL KHAIL ROAD SPORTS CITY MALL OF THE EMIRATES AL BARSHA MOTOR CITY BUSINESS BAY SHEIKH ZAYED ROAD UMM SUQEIM ROAD DOWNTOWN DUBAI AL KHAIL ROAD ARABIAN RANCHES DIFC MEYDAN BUR DUBAI SHEI KH MOHAMMAD BIN ZAYED ROAD DEIRA SHARJAH DUBAI INTERNATIONAL AIRPORT SHEIKH MOHAMMAD BIN ZAYED ROAD EMIRATES ROAD JEBEL ALI PORT EMIRATES ROAD SHEIKH ZAYED ROAD ABU DHABI SHEIKH MOHAMMAD BIN ZAYED ROAD DUBAI EXPO 2020 Our communities have been strategically developed to ensure the delivery of a full workrest-play ecosystem in line with the needs of its community members. We go beyond just commerical office space, offering specialised neighbourhoods with residential, hospitality and retail added to the product mix. AL MAKTOUM INTERNATIONAL AIRPORT EMIRATES ROAD We apply strategic master planning to ensure a balanced real estate mix for each community. We deliver the right hard and soft infrastructure in line with industry standards. We introduce value added services designed to make doing business easier. We liaise with government and authority bodies to ensure the optimal regulatory environments for your business to thrive. We ensure our communities deliver a holistic offering to meet the needs of the workforce and residents alike.

4 TECOM Management Managing, maintaining and enhancing Dubai s leading communities As an investor in our communities, you are an integral part of our success story and protecting your investment is our priority. Established as a separate entity in 2015, TCM services our stakeholders, our investors and the wider community. Our expert team ensures the best-in-class service quality delivery, with a particular focus on: Asset management and planning Technical management Cost management and budgeting Investor relations and communication Continual enhancement

5 Working together to protect your interests The Master Declaration In line with international best practice and the governing legal framework in Dubai, the Master Declaration (MCD) ensures the relationship between the master developer, plot owners and other property rights holders is properly regulated. The MCD sets out the terms and conditions governing the development and operation of each master community, including its management, administration, maintenance and control. The Master Service Charge All plot owners and property rights holders within our communities, including TECOM Group owned plots, will contribute to the Master Service Charge. The service charge is calculated annually after careful review of the existing costs, contracts, market trends and community - specific requirements for the coming financial year. We believe that if something is worth doing, then it is worth doing properly - this is why we ensured from the very start that TCM has the right people on board with the right knowledge and experience. It was also crucial for us to look at international best practice and assess how this sits within Dubai s legal framework and governance. In establishing TCM, we were determined that this entity would be set up as an independent entity with its own dedicated team and separate financials to ensure compliance to industry standards. Transparency, accountability and collaboration TCM s policy is to operate with full transparency and accountability. Annual service charge budgets are carefully reviewed and vetted before presentation to RERA for their approval. financials are audited on a yearly basis in accordance with the international financial reporting standard by a RERA approved auditor.

6 What services will TCM deliver? Relations Ensure superior customer service delivery Build and maintain relationships with stakeholders within the master community Develop policies and procedures Control community governance Foster communication and lifestyle enhancement Provide documentation and record keeping Comply with governing documentation and RERA regulations Relations Enhancement TCM Financial Management Enhancement Manage and maintain the master community infrastructure Manage and maintain all aspects of the master community assets and landscaping Recommend and implement enhancements to each community Conduct regular site inspections to review condition of hard and soft infrastructure and community features Audit technical performance and energy management QHSE, security and full regulatory compliance Working in Partnership We will work in close partnership with our investors to ensure that the maintenance of and improvements to our master communities are in line with requirements, whilst ensuring full compliance with all regulatory bodies and authorities such as RERA. Overall, TCM will deliver three valuable core services relating to the master communities for our investors: Financial Management, Enhancement and Relations. Financial Management Prepare annual budgets for each master community Obtain the relevant approvals from regulatory bodies Invoice and collect Master Service Charges Manage and maintain the master community cash flow and funds Compile annual financial reports incorporating statements, actual income and projected expenses, operational and long term capital replacement budgets

7 How is the Master Service Charge distributed? The Master Service Charge goes towards the maintenance of all areas and facilities within the various mixed-use communities. The charge is allocated to all plots and is determined by two factors: Gross Floor Area (GFA) Development status of your plot

8 How is the Master Service Charge structured? General Fund Reserve Fund The General Fund covers daily requirements related to assets, planned preventative maintenance, reactive maintenance, administration, utilities, insurance, statutory requirements, planned enhancement projects and essential services such as security. The Reserve Fund may only be used for capital asset replacement and major refurbishment works. It is vital to contribute to the Reserve Fund annually, even if no capital replacements are planned for the financial year, to ensure that there will be sufficient funds available when required in the future. Annual contributions allow phased contribution rather than sudden increases to cover major costs. Examples of capital replacements include the replacement of pumping stations, irrigation networks and asphalt/ road repair to name a few.

9 Get in touch TECOM Management PO Box Dubai UAE TCM info@tecomcm.ae tecomcm.ae