More affordable housing at forefront of realty market
dubai — The current shortage of middle-income housing is one of the greatest challenges facing the real estate industry in the Middle East, a senior official at JLL Mena said.
“With a shortage of housing for those families earning salaries around the UAE average, it is important that we address 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,” JLL Mena head of research Craig Plumb ahead of his participation in 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 scheduled for discussions at the new one-day conference, taking place on September 7 in Dubai, ahead of the leading exhibition that 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. For the first time in the UAE we will show how much such households can afford to spend on their housing in the region,” added Plumb. The Cityscape Global Conference kicks off with a focus on Dubai and, in particular, affordable housing. With Dubai Municipality recently revealing their plans to introduce mandatory affordable housing quotas for all new residential developments, the trend towards low- to middle-income properties is anticipated to remain one of the major features of the residential market over the next few years.
A senior representative from the Dubai Land Department will deliver the keynote presentation on Dubai’s urban expansion and will explore the role of innovation in shaping the UAE’s future built environment, as well as assessing the upcoming changes in real estate regulations.
Leading market research company YouGov, Cityscape Global’s research partner, will reveal figures from a one-of-a-kind study looking at the UAE real estate market as a whole, its investors and the end-users who typify the industry. The afternoon of the Cityscape Global Conference will be split between a facilities management programme, co-organised with the Middle East Facility Management Association and sponsored by Ejadah Asset Management; and a real estate brokers programme, sponsored by Masterkey.
Ali Al Suwaidi, Mefma board member, will outline Dubai’s emerging star-rating system, which aims to bring transparency to the Dubai property market. Best practices will be shared by experts such as Abdulla Al Wahedi, senior director for facilities management at Emaar Properties; Billy Daly, CEO of Ejadah Asset Management; and Aly Alsherif, vice-president for design and construction at Accor Hotels Middle East.
With a shortage of housing for those families earning salaries around the UAE average, it is important that we address some of the bestpractice initiatives and developments
Craig Plumb,