The Terraces N & S service charge
The 2026 service charge at The Terraces N & S is AED 18.22 per sqft per year for residential units, up 31.2% since 2023. That is AED 16,398 a year on a 900 sqft apartment — about AED 1,367 a month.
Source: Dubai Land Department owners association register (2026 approved budget), read 26 September 2026.
What it costs by unit size
| Unit | Per year | Per quarter | Per month |
|---|---|---|---|
| Studio ~450 sqft | AED 8,199 | AED 2,050 | AED 683 |
| 1 bed ~750 sqft | AED 13,665 | AED 3,416 | AED 1,139 |
| 2 bed ~1,100 sqft | AED 20,042 | AED 5,011 | AED 1,670 |
| 3 bed ~1,700 sqft | AED 30,974 | AED 7,744 | AED 2,581 |
Multiply AED 18.22 by your own built-up area for the exact figure, or use the service charge calculator to see what it does to your yield.
Where the money goes
The 2026 approved budget, per sqft.
| Utilities Services | AED 6.86 | |
| Services | AED 4.23 | |
| Maintenance | AED 3.74 | |
| Master Community | AED 1.17 | |
| Reserved Fund | AED 1.02 | |
| Management Services | AED 1.01 | |
| Insurance | AED 0.19 | |
| Total | AED 18.22 |
Service charge history
Every approved budget on record for The Terraces N & S. This is the part no other Dubai property site publishes — a rate that has jumped repeatedly is worth asking the owners' association about before you buy.
Other usage types in this building
RERA approves a separate rate per usage. Retail, offices and parking are budgeted apart from homes.
| Usage | Rate per sqft |
|---|---|
| Retail | AED 12.45 |
| Residential (shown above) | AED 18.22 |
How it compares in Meydan
The median across 117 buildings in Meydan is AED 21.65 per sqft, ranging from AED 2.45 to AED 32.52. The Terraces N & S is 16% below the median.
Questions owners ask
What is the service charge at The Terraces N & S?
The Terraces N & S has a RERA-approved service charge of AED 18.22 per square foot per year for 2026 (Residential units). On a 900 sqft apartment that is AED 16,398 a year, or about AED 1,367 a month.
What does that service charge pay for?
The approved budget splits into 7 categories, the largest being Utilities Services at AED 6.86, Services at AED 4.23, Maintenance at AED 3.74 per sqft. Service charges cover common-area maintenance, cleaning, security, insurance, shared utilities, management fees and a reserve fund for major works.
Is this the figure I will actually be billed?
It is the rate RERA approved for the building budget, which is what your owners' association bills against, multiplied by your unit's built-up area. Invoicing is usually quarterly through Mollak. Your own invoice can differ if your unit has a different usage type — parking and retail are budgeted separately — so check your Mollak statement for the exact amount.
Has the service charge at The Terraces N & S gone up?
The approved rate was AED 13.89 per sqft in 2023 and is AED 18.22 for 2026 — up 31.2% since 2023. Owners' associations must submit a budget to RERA each year, so increases follow an approved cost rather than a landlord decision.
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