We will stop excessive rent rise: Mohammed

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By Staff with Wam  www.emirates247.com

His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister and Ruler of Dubai, has expressed his happiness at the great achievement of UAE winning the bid to host World Expo 2020 in Dubai.

Sheikh Mohammed with John Sopel of the BBC. (Al Bayan)
Sheikh Mohammed with John Sopel of the BBC. (Al Bayan)

In an interview given to the BBC, he said that the voting of the 116 countries in favour of Dubai and the UAE is a testament of trust which the world has expressed.

As regards economic activity, specifically with regard to the future of the real estate sector in Dubai, Sheikh Mohammed said the government is adopting an economical rational approach, where it has been taken the necessary legal measures and procedures to prevent excessive rise in rents.

His Highness also asserted that he is aware of the fact that there are some who might exploit the hosting of the World Expo 2020 in the UAE as an excuse to raise prices and rents and the measures adopted will prevent that. More info