Abu Dhabi rent cap set at 5pc

The Pak Banker - - Front Page -

ABU DHABI

A res­o­lu­tion has been is­sued to cap rent in­creases in Abu Dhabi at 5 per cent an­nu­ally as well as ex­tend ten­ancy con­tracts stip­u­lated in the rent law to Novem­ber 9, 2013. The res­o­lu­tion was is­sued on Mon­day by Gen­eral Shaikh Mo­ham­mad Bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Com­man­der of the UAE Armed Forces. Shaikh Mo­ham­mad's de­ci­sion aims to en­hance so­cial sta­bil­ity of ten­ants in Abu Dhabi in a man­ner that en­sures their stay in their leased units un­til Novem­ber 9, 2013, which would re­flect pos­i­tively on all lev­els as well as on liv­ing stan­dards.

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