Volume # 02 | February, 2014

UAE Freezones Biz News Updates

We will stop excessive rent rise: Mohammed

'Dubai to achieve ambitious development goals'

Sheikh Mohammed with John Sopel of the BBC. (Al Bayan)

His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister and Ruler of Dubai, has expressed his happiness at the great achievement of UAE winning the bid to host World Expo 2020 in Dubai.

In an interview given to the BBC, he said that the voting of the 116 countries in favour of Dubai and the UAE is a testament of trust which the world has
expressed.

As regards economic activity, specifically with regard to the future of the real estate sector in Dubai, Sheikh Mohammed said the government is adopting an
economical rational approach, where it has been taken the necessary legal measures and procedures to prevent excessive rise in rents.

His Highness also asserted that he is aware of the fact that there are some who might exploit the hosting of the World Expo 2020 in the UAE as an excuse to
raise prices and rents and the measures adopted will prevent that.

His Highness Sheikh Mohammed stated that Dubai has many promising opportunities to continue to achieve its ambitious development goals in the future.

In the interview given to the BBC, he added that this success and its continuity comes after Dubai recovered from the consequences of the global financial crisis
efficiently and in a very short time.

He pointed out several indicators for the recovery of Dubai's economy, stressing that among these indicators is Nakheel’s intention to repay its financial
obligations a full year before date of maturity.

His Highness highlighted that the Western media overstated the crisis and that was due to not to clarify the facts and to provide adequate information to the
media at the time.

Clarification
An official source in the UAE Prime Minister's Office has stressed the respect of the United Arab Emirates for the will of the Egyptian people and its support for
their political choices.

The source added: "As to the statement attributed to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of
Dubai, with regards to the potential candidacy for President of General Abdul Fattah Sisi, Egyptian Deputy Prime Minister and Defence Minister, the brotherly
advice offered by His Highness Sheikh Mohammed is that General Sisi should not run for election as President of Egypt while a military man. His candidacy, as
a civilian, in compliance with the demands of the people, is a personal matter for General Sisi," the source said.

The source stressed that the UAE, which has always stood by brotherly Egypt and its people, will always support the choices of the Egyptian people.

Sheikh Mohammed gave an interview to the BBC, which was telecast yesterday (January 13, 2014).

Jan 14, 2014

Free Zones Of UAE

Volume # 02 | February, 2014

UAE Freezones Biz News Updates

Courtesy Dubai Media Incorporated.

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