The current shortage of middle-income housing represents one of the biggest challenges facing the real estate sector in the Middle East. There is a severe lack of affordable housing for families with average salaries, particularly in the UAE, which necessitates that stakeholders study and discuss the best and most advanced initiatives launched in the UAE, Saudi Arabia, and Egypt, and work to implement them across all stages of the industry.<\/p>\n
Sources indicate that the Cityscape Global conference, to be held in Dubai on September 7, will include on its agenda issues of affordable housing, the increasing demand for quality facility management, and the need to improve brokers' knowledge of Dubai's regulations and laws.<\/p>\n
Cityscape Global will highlight Dubai, particularly the issue of affordable housing. With Dubai Municipality recently announcing ambitious plans to mandate affordable housing quotas in all new residential projects, future trends are expected to favor housing for middle- and low-income families, making it a key feature of the real estate market in the coming years.<\/p>\n
Obstacles to affordable housing<\/strong><\/span><\/p>\n Craig Plumb, Head of Research at JLL Middle East and North Africa, pointed to several obstacles and challenges contributing to the current housing shortage for middle-income families. He stated that Cityscape Global is the ideal platform to review these issues and develop solutions in collaboration with leading experts in the field. \u2019This is the first time in the UAE that we will be examining the financial situation of these families and their ability to afford housing within the region,\u2018 he added.<\/p>\n Statistics specific to the UAE real estate market<\/strong><\/span><\/p>\n YouGov, a leading market research firm and Cityscape Global's research partner, is set to unveil figures and statistics from a study on the UAE real estate market as a whole, including investors and end-users in the industry.<\/p>\n Facilities management software<\/strong><\/span><\/p>\n The Cityscape Global Conference will dedicate a segment to discussing facilities management programs, which will be held jointly with the Middle East Facilities Management Association and sponsored by Ejadah Asset Management, in addition to another segment that addresses the real estate brokerage program, which will be held under the sponsorship of Masterkey.<\/p>\n Proper and well-organized facilities management is the best way to protect property value, reduce operating costs, and ensure building sustainability. Although the real estate sector is not yet fully mature locally, it is developing rapidly and playing a role in improving the current real estate landscape and transforming it into a higher-quality market.<\/p>\n Star rating system<\/span><\/strong><\/span><\/p>\n Ali Al Suwaidi, a board member of the Middle East Facility Management Association, is scheduled to explain and outline Dubai\u2019s \u2019star rating\u2018 system, which aims to promote transparency within the city\u2019s real estate market. Abdullah Al Wahidi, Director of Facility Management at Emaar Properties, Billy Daly, CEO of Ejadah Asset Management Group, and Ali Al Sharif, Vice President of Design and Construction at Accor Hotels, will also discuss best practices in the facility management sector.<\/p>\n Real estate brokerage industry<\/strong><\/span><\/p>\n To facilitate the development and growth of the real estate brokerage industry, Marwan Ahmed Bin Ghalita, CEO of the Real Estate Development Corporation, the regulatory arm of the Dubai Land Department, will inaugurate the \u201dReal Estate Brokerage\u201c program, which will highlight exclusive and innovative ideas and insights in that field, while discussing the impact of new regulations on real estate brokers.<\/p>\n Cityscape Global Exhibition<\/strong><\/span><\/p>\n The 14th edition of Cityscape Global, the leading exhibition in the investment and development sector in the Middle East region, is witnessing a growth of 30% this year, with more than 300 exhibitors from 30 different countries scheduled to participate in the exhibition.<\/p>\n Among the events taking place alongside the exhibition are the Cityscape Emerging Markets Awards, which attract hundreds of developers and architects behind real estate projects representing emerging markets worldwide. The winners will be announced at a ceremony held at the Conrad Hotel, Dubai, on September 8.<\/p>\n <\/p>\n <\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The current shortage of middle-income housing is one of the biggest challenges facing the real estate industry in the Middle East. There is an acute shortage of affordable housing for households earning average to above-average salaries in the UAE, making it imperative for the industry to study and discuss the best of the evolving initiatives that have been launched in the UAE and Saudi Arabia... 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