Wednesday 15 August 2018
 
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Hesham Khalifa Al Qaizi

Dubai freezes rents on assets leased to schools

DUBAI, 16 days ago

Dubai’s Knowledge Fund has announced it will freeze any increase in rental value on assets leased to investors in the education sector for the academic year 2018-2019 to support educational institutions and reduce their operational costs, according to a media report.

"This initiative reflects the efforts of the Knowledge Fund to support the development of the education sector and encourage investment in education,” Hesham Khalifa Al Qaizi, CEO of the Knowledge Fund was quoted as saying in a Wam report.

“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. The revision of the rent value and any subsequent increase, if applicable, will be postponed until after the specified period," said Al Qaizi.

Furthermore, Al Qaizi added that the continuous efforts of the Knowledge Fund fall in line with the wise leadership's directives to establish a true and effective partnership with the private sector and provide an attractive environment for investments in order to support and further develop the educational drive in Dubai for the benefit if Emiratis and residents.

The Knowledge Fund Establishment is a government entity that aspires to provide an ideal work environment promoting innovation and creativity in the education sector, making it one of the most promising institutions that are working to build a better future in Dubai.




Tags: | Dubai | rent hikes |

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