Authorities in Abu Dhabi, the capital of the United Arab Emirates (UAE), have announced a freeze on rent increases for residential and commercial properties, according to reports on Wednesday. The move is expected to give relief to the residents, including Pakistanis and businesses, during a time of ongoing regional tensions.
The decision will apply to both new lease agreements and lease renewals, according to the reports. Landlords will not be allowed to charge more than the current rent under this new relief.
Officials also said that the measure takes effect immediately and will remain in place until further notice.
Authorities said that the rent freeze is planned to reduce financial pressure on residents and companies. They further said that the step will help provide stability during a difficult period.
A similar rent freeze was introduced in 2021 during the COVID-19 pandemic. At that time, it was used to support businesses and help the economy.
The latest decision comes as tensions in the region remain high. Recent attacks between the United States (US) and Iran have affected the economy and business in the region. This has also created uncertainty for residents.
According to the reports, several sectors have faced disruptions. Trading and construction activities have faced delays. In addition, some commercial areas even experienced temporary closures because of security concerns.
Officials said that the rent freeze will help residents and businesses manage costs until conditions improve.
Dubai Smart Medical Visa
Dubai may soon introduce a “smart medical visa” to make it easier for patients who are travelling to the emirate for treatment, according to reports on Tuesday. The new system is expected to also improve services for medical tourists.
This step comes after a new agreement between the General Directorate of Identity and Foreigners Affairs – Dubai (GDRFA Dubai) and the Dubai Health Authority (DHA), as per the reports.
This process will start before patients arrive in Dubai and continue during treatment and follow up care.
Read more: Dubai to launch smart medical visa for easier treatment travel
