Focus on housing projects at Dubai event
Dubai, October 6, 2013
A plethora of opportunities in Abu Dhabi housing for UAE contractors, banks, and developers will be outlined this week at Middle East’s largest real estate event in Dubai.
Dr Abdulla Bilhaif Al Nuaimi, Minister of Public Works and chairman of the Sheikh Zayed Housing Programme, will reveal the details of a Dh2.1 billion ($571.6 million) grant at the Mena Mortagage Affordable Housing Congress to take place on October 8 and 9 at the Dubai World Trade Centre, alongside the Cityscape Global exhibition.
Al Nuaimi will provide a detailed update on the future projects of the programme, a UAE government initiative established to provide suitable housing for thousands of Emirati families.
The programme recently received a Dh2.1 billion grant approved by Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai, which will assist 5,000 Emirati families with building their own homes.
“The Ministry of Public Works and the Sheikh Zayed Housing Programme are working to find the best scenarios of achieving the target of building houses for UAE nationals,” said Al Nuaimi today.
“Our aim is to promote public-private partnerships which achieve a win-win scenario for UAE nationals and the public and private sectors.”
The congress will outline the necessary strategies to address the rising demand of comfortable and affordable housing for a fast-growing regional population, which is expected to hit 366 million by 2020, said a statement.
Wouter Molman, Cityscape Global Exhibition Director, said: “As developers come to realise that risk levels can be spread by diversifying their property portfolio, affordable, value and social housing projects now represent some of the greatest opportunities within Mena real estate.
“Affordable housing schemes are lower risk than luxury projects, and their returns are naturally more stable. The congress will provide the knowledge and contacts required to tap into this sustainable project turnover, while contributing towards a positive social and economic outlook.” - TradeArabia News Service