Young entrepreneurs in Dubai are to receive a 20% reduction in rents in a move to foster the development of new business talent in the emirate, says Arabian Business. There is small, but significant, qualification to this rent rebate: start-ups must be members of the Sheikh Mohammed bin Rashid Establishment for Young Business Leaders.
While the discount should be applauded – rents can gobble up one quarter of business costs, rates are up 40 recent in the last year, Dubai rentals are now the world's ninth most expensive – it is a pity this scheme isn't extended to a wider range of entrepreneurs.
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