Middle-Income Housing in the UAE

JLL

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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
ep ese ti g ea l 0% of the cou t s eside ts.
Co side i g housi g should ot e ceed 0% of a households i co e, iddleincome 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.
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In its report JLL mentions different challenges and constraints linked to such
homes which include cost of land, infrastructure and construction costs,
de elope s st ategies, egulatio s a d fi a ci g. De elope s that sta ted offe i g
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
Ga de s. Apa t e t fo e t atchi g this populatio seg e ts c ite ia a e
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
ho e e p ope ties fo e t that atch this populatio s seg e t e ui e e ts
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
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