(MENAFN- Khaleej Times) His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, in his capacity as Ruler of Dubai, has issued law No. (2) for 2013 amending law No. (7) for 1997 on land registration fees.
The new law set registration fee for a storehouse sale contract at Dh10 for each square metre of the land area in which the facility was built, provided that the fee should not be less than Dh10,000.
The revised fee is lower than the previous rate of two per cent of the contract of sale.
Sultan Butti bin Mejren, director-general of the Government of Dubai's Land Department, said the new fee will have positive impact on the industrial sector in Dubai as the new move will significantly contribute to support SMEs, encourage industrial investment and attract industrial companies to the emirate.
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