Dubai keeps rent cap
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Dubai keeps rent cap

Dubai keeps rent cap

A new decree has been issued by Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, capping the increase in the property renting in the emirate, Wam has reported. Rents can be raised only if the rates are 25% below the average index price set by the Real Estate Regulatory Agency (Rera). If the rent was 26% to 35% less than the average rent for a similar property, the maximum increase is limited to 5% of the total rent and to 10% if the rent was 36% to 45% less. If the rent was 46% to 55% less than the average rent for a similar property, the maximum increase shall be equivalent to 15% of rent value, with 20% of the total rent set as maximum increase, according to the decree.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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