A new law has proposed that rents in Dubai should be fixed for three years following the signing of a rental agreement contract, Al Bayan, an Arabic daily, reported on Thursday.
Sultan Butti bin Mejren, the Director-General of the Dubai Land Department (DLD), said a notification to this effect would be issued soon.
The new law is applicable from the date a tenant signs a rental agreement contract.
Mejren said that a fixed rental price would boost tenants’ confidence in Dubai.
Earlier, though the draft of the new law was prepared in November 2019, the notification wasn’t issued.
Source: Khaleej Times