Monday 1 December 2008

New Rent Cap for RAK

A new rent cap rule in Ras Al Khaimah was announced on Monday.

According to the long-awaited rule, there will be an annual rent cap as follows:

15% cap on tenancy contacts signed before January 2004;
10% cap on tenancy contracts signed after January 2004;
5% cap on tenancy contracts signed after January 2008.

Shaikh Saud Bin Saqr Al Qasimi, Ras Al Khaimah Crown Prince and Deputy Ruler, issued the new rent cap law no. 14 for the year 2008.


source, GulfNews, By Nasouh Nazzal, December 01, 2008

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