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By Staff Reporter
Dubai: Tenants in Dubai who have been getting lease renewal requests are seeing some sharp increases on rentals as landlords try to bring rates to ‘market averages’. To this end, they are starting to hike rents by the maximum 20 per cent where possible.
This is being particularly felt in the mid- to upper-mid market residential communities – JVC, Furjan, etc. – rather than in the premium end of the rental market. Even locations such as Sports City, the areas around DIP and elsewhere are facing these higher demands. The new leases feature hikes of 10-20 per cent, more or less.
