The shortage of affordable housing continues to pose a challenge for the real estate industry in the Middle East, Craig Plumb, head of research 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 Emirates, Saudi Arabia and Egypt and continue to implement them across the industry,” Plumb said.
“There are several constraints and challenges that have resulted in the current shortage of housing for middle income households," he continued, without elaborating on the topic.
Plumb's comments come ahead of the Cityscape Global Conference, scheduled to be held in Dubai, UAE, during the month of September 2015.
Key announcements expected at the conference include information about Dubai Municipality's decision to mandate affordable housing quotas in all new developments.
Dubai Land Department is expected to deliver a presentation on Dubai’s urban expansion, and explore the role of innovation in assessing the upcoming changes in real estate regulations.