Sheikh Mohammad issues Decree on Dubai rent Hikes

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Sheikh Mohammad issues Decree on Dubai rent Hikes

Sheikh Mohammad issues Decree on Dubai rent Hikes

(Dubai) – Future rent increases in Dubai will be decided by a weighted average of what properties in that particular area command rather than an arbitrary demand by a landlord. It applies equally to residential and commercial realty in the emirate.
This will be the natural result of a new decree issued by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The Decree No. 43 of 2013, sets a specific band on how the optimum rental increases that a landlord can demand while renewing leases.