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The shortage of middle-income housing is one of the greatest challenges facing the real estate industry in the Middle East, said a veteran industry analyst.
“With a shortage of housing for those families earning average salaries around the UAE, it is important that we examine some of the best practice initiatives and developments that have been launched in the UAE, Saudi Arabia and Egypt and continue to implement them across the industry,” said Craig Plumb, Head of Research at JLL Middle East and North Africa, ahead of the inaugural Cityscape Global Conference.
Affordable housing, the growing demand for quality facility management and the need to improve broker knowledge of Dubai regulations are the three themes to be discussed at the new one-day conference taking place on September 7 at the Conrad Hotel, ahead of the exhibition, which runs from September 8-10 at the Dubai World Trade Centre.
“There are several constraints and challenges that have resulted in the current shortage of housing for middle income households and the Cityscape Global Conference is the platform to address these issues with leading experts in the field,” added Plumb. “For the first time in the UAE, we will show how much such households can afford to spend on their housing in the region.”
According to organisers of the exhibition, Dubai Municipality’s recently announced plans to introduce mandatory affordable housing quotas for all new residential developments could see the trend towards low- to middle-income property become a major feature of the residential market over the next few years.
A senior representative from the Dubai Land Department will deliver a keynote presentation on Dubai’s urban expansion at the conference. The role of innovation in shaping the future built environment as well as assessing the upcoming changes in real estate regulations will also be explored.
Source: Property Weekly