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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 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.
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