His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister and Ruler of Dubai, told BBC that the government has 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.
