Dubai Land Department Mulling Over a Three Year Rent Freeze: Might Help Stabilize Real Estate Market

Dubai is proposing a three-year-long rent freeze, which would lock the rent for the said period from the date of signing the rental agreements; this is expected to bring a much needed certainty to the Dubai Real Estate market. The Dubai Land Department revealed recently that they are pondering over the same, and we may expect an approval of the same soon enough, since UAE has precedents of coming up with such innovative approaches to face crises.

This policy, if approved, is expected to cause properties to be valued fairly, while also reducing rental disputes. It is pertinent to note that neither the tenant nor the landlord would gain from the fluctuations, making the proposed law relevant to the prospects of both tenants and landlords. However, no official notifications on relevant dates have been released.