Sunday, January 07, 2007

Dubai Rent Cap

DUBAI RENT CAP - 6 January 2007 – The Dubai rent cap of seven per cent will benefit many but some people still fear that some unscrupulous elements might be able to find loopholes in the system.

However, seeing the success of the decision, authorities in Sharjah, and for that matter, all other emirates in the UAE must also come up with a similar rule. After a three-year period, rents are being raised as high as 70 to 95 per cent for every following year. It is hoped a similar decision will be taken there soon.

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