Qatar Real Estate News
Rent freeze on commercial properties in Qatar
The government has ordered rent freeze of commercial properties in Qatar, whose contracts were signed on or after 1st January 2005.
As per the Cabinet decision, ratified by HH the Deputy Emir and Heir Apparent, Sheikh Tamim bin Hamad al-Thani, a cap has been imposed on rental increases of non-residential properties, whose contracts were signed on or before 1st January 2005.
Landlords are likely to hike rents of commercial properties, the contracts of which were signed, before 1st January 2005, based on the following rates:
Rents less than QR3000 may be increased by 20% a year, while rents falling in the range of QR3000 to QR6000 may increase by 15 percent a year, while rents in the range QR6000 to QR10,000 may increase by 10percent a year, and those above QR10,000 may be increased by 5 percent annually.
The increase in rents would be made applicable only after notifying the tenant, says Article 2 of Law No.9 of 2010.
As per the Emiri decision, the Minister of Municipality and Urban Planning will submit an assessment report to the Cabinet about the results of implementation of the new law.
The amendment will be applicable from the date of issuance and will be published in the official gazette.
Posted on 29/3/2010
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