12.10.2012 - The dynamics set to change in Dubai and Abu Dhabi realty markets
New residency regulations have been drafted to regulate the property market in the UAE. The first requires expatriates seeking to renew their residence visa or issue a new one for their relatives to provide an attested tenancy contract along with a power bill in. This, according to the Ministry of Interior, is intended to build a reliable housing database for the expatriate population. The law is now applicable to bachelors as well those who were earlier “temporarily exempted”. This regulation has a direct impact on expatriates living in apartments or villas on a sharing basis...............................................Full Article: Source
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