Ras Al Khaimah Suspends New Rent LawThursday, June 12, 2008
The UAE emirate of Ras Al Khaimah has issued an order freezing its new rent law, and reinstated its earlier law which will be in force until October 1, reported Gulf News. The new law, which capped rent increases at 5% for residential properties and 7% for commercial properties, was vague and gave landlords an unfair advantage, a senior official said. Amendments to the new legislation are currently being drafted. Source: AME Info
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