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FINANCIAL NEWS
Dubai’s real estate fee increased to 4 pct
28 Sep 2013
(MENAFN) Fee on real estate transactions was doubled in Dubai by Dubai Land Department to limit speculations in the state’s property market, according to Arab News.
Sultan Butti bin Mejren, director general of the Land Department, announced that the fee will be boosted to 4 percent beginning from October 6.
Mejren said: “Warehouses and industrial property will be excluded from the new rule.”
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