Sakana-Naseej in housing forum deal
Manama, September 12, 2011
Bahrain-based Sakana Holistic Housing Solutions and Naseej have joined with conference organiser Cityscape to launch a two-day Mena Mortgage and Affordable Housing Congress.
Taking place on November 23 and 24 in Manama, the congress will provide a platform dedicated to two of the biggest issues facing the real estate and finance industries.
The first day will focus on the mortgage sector, led by Sakana, while day two will cover affordable housing delivered by Naseej. The venue will be confirmed shortly.
'We are delighted to partner with Cityscape for a first-of-its-kind Mena Mortgage and Affordable Housing Congress focusing on the home finance and affordable housing sectors to be held in Bahrain,' said Sakana chief executive officer R Lakshmanan.
'Our decision to partner stems from the fact that Cityscape is one of the leading conference and exhibition organisers in real estate and the forum provides a great platform for Sakana to continue playing a catalyst role for the prosperity of the housing sector.
'We believe this forum is highly relevant and timely considering people in the region want to improve their standard of living and the sustainability of the region's mortgage industry.'
The nascent mortgage market across the Menaa was stalled when the global credit crisis hit, and there still seems to be a significant shortfall in mortgage provision, with the regional mortgage market across Mena being valued in excess of $100 billion.
Similarly, a shortage in affordable housing is estimated in the tens of thousands of units across the region; with excessive land prices and immature mortgage market making home ownership nearly impossible for much of the population.
'We view this keynote event as a most timely forum for all players - from both the public and private sectors - to debate key issues, explore new ideas and identify solutions to the key challenges facing this sector,' said Naseej CEO Christopher Sims.
'We hope the congress will encourage greater participation between players and foster the establishment of new strategic alliances to facilitate faster progress in affordable housing across the region,' he added.-TradeArabia News Service