Saudi Arabia has imposed an annual tax on undeveloped urban land, the Housing Ministry said on Sunday, finalising the rules for a system intended to address a shortage of affordable housing.
The introduction of a land tax, first a
The downward readjustment of housing allowances amongst companies in Abu Dhabi is creating further strain on the higher end of the residential market and underscores the need to address the UAE capital’s lack of affordable housing options,
Wasl properties, a top real estate management company and a subsidiary of Wasl Asset Management Group, plans to begin leasing 280 units in its new Wasl Oasis II development in Muhaisnah, UAE.
The firm plans to launch seven out of
The current shortage of middle-income housing is one of the greatest challenges facing the real estate industry in the Middle East and affordable housing is the only solution to this problem, said an expert.
“With a shortage
Oman government has started working on its ambitious plan to set up affordable housing complexes across the country in co-ordination with real estate development companies, said a report.
The selection of the most suitable locatio
Changes to residential property ownership laws in the Northern Emirate of Sharjah have prompted new interest in the development of affordable expatriate-focused accommodation, a report said.
With the February announcement of the A
Renewed focus on the potential and possibly pent-up demand for affordable housing in Dubai, UAE, is spurring local government, investor and developer activity, said a report.
The first three months of this year showed little or no
GGICO, a diversified conglomerate, has launched its latest real estate project located at Dubai’s Silicon Oasis, continuing with its popular model of offering high quality housing through affordable payment plans.
Dubai Municipality is working on a plan to build affordable houses in selected areas of the UAE emirate, mainly targeted at those earning between Dh3,000 and Dh10,000 ($817 and $2,721) per month, said a report, citing a senior official.
The proposal by Dubai Municipality to introduce mandatory affordable housing quotas for all new residential developments is long overdue and is expected to bring a wide range of benefits to the UAE emirate, while driving further maturity in the