Humberts completes reserve study for Tamweel Tower using SmartProperty’s Living Reserve Study platform

Humberts has completed a reserve fund study for Tamweel Tower in Jumeirah Lakes Towers marking a growing industry focus on long-term capital expenditure planning across Dubai’s jointly owned properties.

Commissioned by HOAM - High Rise Owners Association Management the study assessed future major repair and replacement obligations for the residential tower as part of ongoing reserve fund and asset management planning.

The project was delivered using SmartProperty’s Living Reserve Study platform which supports continuously updated reserve planning based on changing building conditions, lifecycle requirements and cost data.

The development comes as Dubai’s residential communities increasingly review reserve adequacy amid ageing infrastructure and compliance requirements.

According to industry estimates thousands of jointly owned properties across Dubai are entering more mature operational phases where future capital expenditure planning is becoming a significant component of community financial management.

“Reserve studies are becoming increasingly important as communities transition from early operations into long-term asset maintenance cycles,” said Tim Stephens, MRICS, Chairman of Humberts. “There is growing market awareness around the importance of aligning reserve funding with actual future building obligations.”

Under Dubai Law No. 6 of 2019 reserve funding forms part of the service charge structure governing jointly owned properties requiring owners associations to allocate funds for future major maintenance and replacement works.

HOAM said the Tamweel Tower study forms part of broader efforts to improve long-term financial visibility for owners associations and support more data-driven community management practices.

“Communities are placing greater emphasis on forward planning and reserve preparedness,” said Ahmed Bilal, Senior Community Manager at HOAM. “The objective is to ensure future capital requirements are assessed continuously against the real condition and operational needs of the building.”

Industry professionals say reserve planning is expected to become an increasingly important area within Dubai’s real estate sector as communities seek to balance long-term asset preservation, financial sustainability and owner confidence.