Dubai has introduced an initiative to help tenants pay rent in instalments as part of efforts to ease their financial burden.
The Flexi Rent scheme was launched by the Dubai Land Department (DLD) on Tuesday in partnership with 12 real estate companies including Deyaar, Wasl, Dubai Investment Real Estate and Driven Properties.
“We have an agreement with 12 real estate companies that they can divide the instalment plan, they can provide grace period, they can redesign the payment plan and, in case if there is any increment for this year, and only for specific cases, they can just ignore it,” Khalid Al Shaibani, director of the rental affairs department at the DLD said.
