Utility prices on hold in Dubai

19/08/2011 - Dubai Property News Posted by Neil King
Utility prices on hold in Dubai

Property investors in Dubai could look to improve their portfolio sizes after it was revealed that utility prices are to remain on hold.The emirate's Supreme Council of Energy has confirmed that utility tariffs, including water and gas rates, will remain at current levels for the next few years.Businesses in the region have welcomed the news, which could also lead to increased demand for rental properties.Hannes Reinisch, Abu Dhabi Deloitte regional energy consultant, told the National: "If you're saying come to Dubai, we guarantee you energy prices will not rise, that's music to the ears to people who have very energy-intensive industries."All the businesses who are looking to build up their manufacturing capacity can do their business cases with a fixed energy cost … That's what industry wants, they want security."The news will settle the fears of property investors and other business operators after prices increased in January this year.