Dubai draft law to freeze rents to provide ‘peace of mind’ for homeowners

Dubai draft law to freeze rents to provide ‘peace of mind’ for homeowners

A draft law setting out plans to freeze rents for three years in Dubai has won support from both renters and property owners.

The Dubai Land Department told The National the proposed legislation would bring stability to the market for both landlords and tenants and reduce rental disputes.

Residents hoped for more information on the draft law to clarify if the freeze applied to existing contracts and new rental leases.

The Land Department said details would be made available later and there was no date yet on when the law would be