Dubai draft law to freeze rents for three years 'will stabilise property market' | The National
A new draft law set to keep rents unchanged for a three-year period will ensure properties are valued fairly and ease disputes between renters and owners, Dubai Land Department said.
The rent freeze, if approved, will bring stability to the real estate market and provide a clear picture of the value of properties in the emirate, according to the department, the government body that handles registrations and frames legislation for the real estate sector.
Once the law is signed, a government notification will be issued to announce it has been adopted, with guidelines published alongside.
Officials did not have a date for when the law would come into force and are awaiting approval.
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