UAE | Housing & Property

7% Dubai rent cap in force

According to a new decree, rent increase in Dubai shall not exceed 7 per cent annually, rules His Highness Shaikh Mohammad Bin Rashid Al Maktoum.

  • WAM
  • Published: 23:36 May 3, 2009
  • Gulf News

  • According to the new decree issued by Shaikh Mohammad on January 1, 2007, rent increment shall not exceed 7 per cent of the annual rent of the property in Dubai.
  • Image Credit: Gulf News archive

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of UAE, and Ruler of Dubai, in his capacity as Ruler of Dubai, has issued a decree on rent increase in the emirate of Dubai.

The new rent increase was decided after taking into consideration Decree no. 2 of 1993 and its amendments, which set up a special committee to look into and settle disputes between landlords and tenants, and Decree No. 14 of 2005 which set a ceiling for any rent increase in the emirate.

According to the new decree, rent increment shall not exceed 7 per cent of the annual rent of the property. This shall apply to all rent contracts that are to be renewed in 2007 on condition that no rent increment was made on that property in 2006.

No rent increment shall also be made in 2007 on properties whose contract had already been signed in 2006 with a new tenant, Article 2 of the new decree said.

The decree tasked the special judiciary committee in charge of settling disputes between landlords and tenants to come up with the appropriate measures for the implementation of the new decree, which takes effect from the date of its issuance, January 1, 2007, and is to be published in the official gazette.

  • Rate this article
  • Average reader rating (19 votes) 3 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from UAE Housing & Property

  1. No hike in water and electricity rates in Dubai

  2. Dubai tenants face eviction

  3. Property investor wants her money back

  4. Jumeirah Lakes Towers: No Free zone status

All articles in Housing & Property

More from UAE

Gulf News
Popular in UAE
Readers' pictures
Your pictures

Readers' pictures

The best reader pictures from around the UAE this week

Latest news
UAE Editor's choice