Sharjah too will fix rates for rent hike

SHARJAH — With the Dubai Government putting a cap of 15 per cent on rental hikes till the end of 2006; Sharjah Municipality is also planning to impose a ceiling on similar lines. It is proposing to allow an increase of only 15 to 20 per cent in the annual rents of leased apartments in the emirate beginning next year. A source in civic body said that the municipality had been studying the plan of fixing a certain percentage for the past one year.

By Lina Abdul Rahman & Asma Ali Zain

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Mon 14 Nov 2005, 9:32 AM

Last updated: Wed 8 Apr 2015, 1:23 PM

“The time is now ripe to implement this decision as Dubai has set a 15 per cent cap in case landlords decide to increase rents, while in Ajman, a 20 per cent increase is allowed annually,” added the source. He noted that the emirate is witnessing rapid development in infrastructure, and a fixed percentage increase will help curb the greedy attitude of landlords.

The source added: “By determining the percentage of any hike in rents, tenants will not be under the pressure of greedy landlords, while the hike in the rents will be more affordable and limited, compared to the present state of high rents with no authority to control the hike.”

Click here to read the complete story


More news from