Rera chief says no rent cap this year

Government, in UAE, works in strange ways. In past few weeks we have seen the mayhem and chaos Emirates ID Card registration has created, especially in the expat community.

Recent confusion is created by Rera, Dubai’s Real Estate Regulatory Authority. At end of last year Rera announced the launch of Ejari, its online tenancy registration website, claiming it is going to improval the rental exploitation scenarios. All rental contracts were required to be made through Ejari website, for a certain fee.

However, Rera chief executive has now announced that rent cap is not required in this year due to the global downturn.

“We don’t need a rent cap this year. We need to freeze everything. 2009 is a tough year and we shouldn’t interfere with rents too much,”

He thinks rental rates should be fair to both landlords and tenants. I wonder how he is going to make sure about this?

Expat community is not happy on this, here is one comment.