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We will stop excessive rent rise: Mohammed

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

By Staff with Wam

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.

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).

Sheikh Mohammed spoke on several issues, following are excerpts.

Mohammed receives Japanese executives

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, received on Monday Yoshihiko Miyauchi, CEO of Japanese Orix Group, who was accompanied by Makoto Inoue, President and Co-Chief Executive Officer.

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, was present at the meeting.

The Tokyo-based Orix operates in over 35 countries and regions worldwide including the UAE, where it takes Dubai as a regional centre for its operations in the UAE and the region. The company has provided financial and investment services for nearly 50 years.

During the meeting, which reviewed Orix's businesses and investment in the UAE, the region and the world at large, Sheikh Mohammed welcomed major international companies which take the UAE as a base for their operations and investment which also serve ''our national economy, as well as stimulate and serve world economy in general.

For his part, Yoshihiko Miyauchi, CEO of Orix, lauded the government facilities the UAE in general and Dubai in particular offer to companies and businessmen from across the world, particularly companies wishing to strengthen their foothold in the regional market and expand their businesses through Dubai, the regional trade hub.

The meeting was attended by Mohmmed Ibrahim Al Shaibani, Director of Dubai Ruler's Court, Khalifa Saeed Salieman, Director General of Dubai Protocols Department, and a number of senior officials and members of Orix delegation.