5% rent cap in Abu Dhabi removed

General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces and Chairman of Abu Dhabi Executive Council, has issued a decision pertaining to rent contacts.

The decision includes the cancellation of the extension of rent contracts and the five per cent annual increase rate as of November 10, 2013 in the Emirate of Abu Dhabi.

Under the resolution, the estimated rental value becomes, as of that date, in accordance with the desire of the contractors and governed by the rules of supply and demand in the real estate market.

Mohammed bin Zayed receives President of Gabon

General Sheikh Mohammed bin Zayed Al Nahyan today received President Ali Bongo Ondimba of Gabon, who is currently visiting the country.

The Crown Prince of Abu Dhabi welcomed the Gabonese President and they discussed relations of friendship and cooperation between the United Arab Emirates and the Republic of Gabon and ways of developing them to serve the interests of the two countries and peoples.

Sheikh Mohammed highlighted the state's keenness, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, to develop and strengthen cooperation with Gabon.

The meeting dealt with bilateral relations and the importance of boosting them in various fields, especially in the economic and investment areas for the benefit of the two countries.

During the meeting, they also exchanged views on the regional and international developments in addition to reviewing the results of the 3rd Africa Arab Summit hosted by Kuwait and its importance in supporting relations between the two sides, encouraging coordination between them regarding the challenges faced by the two regions. They also touched on a number of issues of common interest.

The Gabonese President expressed his pleasure on the visit, stressing his country's interest in developing bilateral relations with the UAE and supporting all moves to enhance cooperation in all fields.

The meeting was attended by Mohammed Mubarak Al Mazrouei, the Under-Secretary of the Crown Prince's Court, Gabon Foreign Minister, Emmanuel Issoze-Ngondet, and Magloire Ngambia, Gabon's Investment and Tourism Minister, in addition to a number of senior officials.

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