Rents have come down across the UAE, but they could drop even further in September when RERA publishes its next review of prices.
Marwan Bin Galita, chief executive of the Real Estate Regulatory Authority (RERA), said it would share its extensive database with Ajman’s Real Estate Regulatory Agency (Arra).
“It will unify with the federal laws if we share the same database. It will unify the database for developers and agents. Agents in Ajman wishing to market in Dubai must be registered with both (Rera and Arra),” Bin Galita said in comments published in UAE daily Gulf News.
Talking about the latest index, he added: “It’s good. It is more trusted. If a dispute, from January, comes to the Rent Committee it will be based on the existing index, not the previous one. Landlords and tenants, especially landlords, should look at the situation now.”
Contracts signed from January to March and also previous contracts have all been taken into account, he added.
