Agents say Dubai should not follow Abu Dhabi cap

It's unjustified to harbour hopes of Dubai following Abu Dhabi in lowering the cap on rent increases, real estate observers feel. The reason why is simple: the markets are completely different. Abu Dhabi announced this week the introduction of a seven per cent rent increase cap in the year ahead. Dubai's current 15 per cent cap rule comes to an end on December 31 and a decision on its extension is awaited. Dubai Rent Committee Chairman Saeed Mohammad Al Gandi said, according to a news report, that the it is not contemplating any change at this point. Read More..