Rents frozen on school buildings in Dubai to help education sector
Landlords and landowners will not be allowed to increase prices this coming academic year
Schools in Dubai will be protected from rent hikes on their buildings for the next academic year, the government said.
The Knowledge Fund, an organisation that provides support to the education sector, said rental fees on buildings leased to schools and other education institutions will not rise in the 2018-19 academic year.
The move has been made in a bid to support educational institutions and to reduce their operational costs.
“This initiative reflects the efforts of the Knowledge Fund to support the development of the education sector and encourage investment in education. The initiative will freeze any rental increase due from the next academic year 2018-2019 for all its investors who are subject to contract renewal," said chief executive Hesham Khalifa Al Qaizi.
"The revision of the rent value and any subsequent increase, if applicable, will be postponed until after the specified period.”
Updated: July 30, 2018 02:33 PM