www.roostland.com | Dubai Real Estate Broker Roots Land Real
Estate
Cityscape Global will open tomorrow for three days (8th to 10th
Sept) Dubai
World Trade Centre. This year the exhibition organizer, Informa,
has dedicated
one full day for the conferences, taking place a day prior to
the exhibition
opening, rather than during the exhibition as per the previous
format. In the
Conrad Hotel today hundreds of professionals attended the
event.
The recent report by JLL, presented by Mr. Craig Plumb, the Head
of Research
MENA, on the middle-income housing in the Middle East and North
Africa
highlights a shortage of housing for the middle-income people in
Dubai and Abu
Dhabi as well as in other cities in the region.
The international research firm defines the middle-income in the
UAE as
household with monthly income between AED 10,000 and AED
30,000
epesetig eal 0% of the couts esidets.
Cosideig housig should ot eceed 0% of a households icoe,
iddle-income residents of the UAE can afford yearly rents up to AED
72,000 for a two
bedroom unit and a purchase price up to AED 790,000 for a
similar apartment.
www.roostland.com | Dubai Real Estate Broker Roots Land Real
Estate
In its report JLL mentions different challenges and constraints
linked to such
homes which include cost of land, infrastructure and
construction costs,
deelopes stategies, egulatios ad fiacig. Deelopes that stated
offeig affordable projects in Dubai are using new techniques that
significantly reduce
construction costs.
In Dubai ready properties for sale affordable by middle-income
residents are
available in areas such as IMPZ, Liwan, Dubai International City
and Discovery
Gades. Apatet fo et atchig this populatio segets citeia ae
available in Deira, Bur Dubai, Warsan Fourth, Dubai Residential
Complex, Dubai
Outsource Zone, Dubai Investment Park and Discovery Gardens.
According to the
report there are currently four affordable developments under
construction in
the city including MAG 5, Remram Phase 2, Glitz, and Town
Square.
In Abu Dhabi there is no area with middle-income housing for
sale and there is no
project under construction affordable by these category of
residents. There are
hoee popeties fo et that atch this populatios seget euieets in
the outskirts of the city: Mussafah and Al Rahiba.
Finally JLL highlights some of the priorities the firm believes
the country should
focus on in order to offer more affordable housing to the
market, which are the
reduction of land and infrastructure costs, the refinements
required to make
inclusionary zoning initiatives more effective, the
re-introduction of rental cap or
any other regulations in Abu Dhabi, and the expansion of public
transport
network to serve affordable areas.
Source: JLL
About Roots Land Real Estate:
Roots Land Real Estate is your property partner in the U.A.E. We
are committed
to assisting you with the entire process of purchasing or
selling your desired
property. Our experience in Dubai and Abu Dhabi?s property
markets has
provided us with invaluable insight that is largely beneficial
to investors.
Learn more about http://www.rootsland.com/
