The 5% rent cap will stay in place in Abu Dhabi as Dubai decides to freeze prices
The five per cent rent cap imposed in Abu Dhabi in 2008 is still effective and will remain valid until the new rent cap for this year is announced.
"All rent disputes [now] are dealt with [in keeping with] the 5 per cent rent cap of 2008", said Mohammad Rashid Al Nuaimi, head of the Rent Dispute Settlement Committee.
About 145 cases of rent disputes filed this year [until January 18] will be decided in accordance with the 5 per cent rent cap, he explained. "About 7 to 10 cases are filed every day. We have to wait for the government decision on a new rent cap" said Al Nuaimi.
The government of Abu Dhabi had reduced the annual rent cap from 7 per cent (of 2007) to 5 per cent in 2008 in an effort to control the escalating housing crisis in the emirate.
The Abu Dhabi Executive Council had issued the decision on January 13, 2008, with immediate effect.
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Mazhar Mohad Jan 21, 2009 07:02 am
in dubai it is not really frozen. people living in the apartment for over 3 years are paying well below index price and constitutes majority of them. So in Dubai there are no rental caps this year for whom have been paying valuable rents over inflated rents.