Special Features
Dubai Government Stresses Importance of Abiding by Rules and Regulations on Rent Increases
Dubai Government has issued a statement reemphasizing the importance of abiding by the rules and regulations set by RERA, the Real Estate Regulatory Agency in Dubai, as regards to property rent increases across the Emirate. The communication from the Government comes in the wake of Dubai’s win to host the Expo world fair in 2020.The statement encouraged RERA to continue to standardize rent regulation across all property owners and properties - whether in Dubai or in any of its free-zones, and to enforce its laws to all rental properties irrespective of ownership whether private, commercial, or government.
"The Expo win is a gift to the people of this country and this Emirate," said H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee, and Chairman of the UAE Expo 2020 Bid Higher Committee.
"The win," he added, "is a testimony to the success and hard work on the part of the people of Dubai and its government in building a city that can boast an open economy and free trade, where the Emirate has quickly become a commercial hub, a transportation and logistics hub, a tourism hub, and a financial center, for the whole world." The statement from the Government of Dubai also encouraged citizens, nationals and residents of the Emirate to assume their responsibilities in maintaining and extending Dubai’s prosperity and success for years to come.
Sheikh Ahmed added, "It is now all our duty to ensure that Dubai continues to offer great opportunity for business and living." A large part of the success of Dubai has been its ability to attract multinational companies and top talent from around the world to work and live in Dubai. The Emirate’s infrastructure, facilities, laws and good governance, all factor into the health of Dubai’s economy, and cumulatively play into its success.
"It is important that Dubai continues to maintain that competitive advantage," added Mohammed Al Shaibani, Director General of HH The Ruler’s Court, and Deputy Chairman of the Expo 2020 Bid Higher Committee.
"Dubai was born of the joint effort and cooperation of both the private and public sectors. It is very important that we all continue to play our roles to serve the best interest of this Emirate and this country," he concluded.
