Dubai Land Department confirmed in a statement that real estate registration fees, currently set at 4%, will not be increased in the near future, and that it does not plan to raise the charges, which are collected from dealers to complete their real estate transactions.
The department stressed that decisions to increase the various fees relating to real estate are issued by Dubai Executive Council, Construction Week Online reported.
Sultan Butti Bin Mejren, director-general of Dubai Land Department, discounted what he said were "rumours" relating to a real estate registration fee increase.
"A number of market players are talking about alleged reports that Dubai Land Department will be increasing real estate registration fees from 4% to 8%; this is a baseless rumour, and only serves to encourage the return of speculation," Bin Mejren said.
"It confuses buyers and needlessly compels them to speed up their purchasing decisions," he added.