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 of housing for those families earning salaries around the UAE average, it is important that we address some of the best practice initiatives and developments that have been launched in the emirates, Saudi Arabia and Egypt and continue to implement them across the industry,” said Craig Plumb, the head of research at JLL Mena, ahead of his participation in the inaugural Cityscape Global Conference in the UAE.

Affordable housing, the growing demand for quality facility management (FM) and the need to improve broker knowledge of Dubai's regulations are the three themes scheduled for discussions at the one-day conference on September 7 at the Conrad Hotel, Dubai.

Cityscape kicks off on September 8 and runs till September 10 at the Dubai World Trade Centre with a focus on Dubai and, in particular, affordable housing.

“There are several constraints and challenges that have resulted in the current shortage of housing for middle income households and the Cityscape Global Conference is the platform to address these issues with leading experts in the field.  For the first time in the UAE, we will show how much such households can afford to spend on their housing in the region,” stated Plumb.

With Dubai Municipality recently revealing their plans to introduce mandatory affordable housing quotas for all new residential developments, the trend towards low- to middle-income properties is anticipated to remain one of the major features of the residential market over the next few years, he added.

A senior representative from the Dubai Land Department will deliver the keynote presentation on Dubai’s urban expansion and explore the role of innovation in shaping the emirate’s future built environment, as well as assessing the upcoming changes in real estate regulations.

Leading market research company YouGov, Cityscape Global’s Research Partner, will reveal figures from a one-of-a-kind study looking at the UAE real estate market as a whole, its investors and the end-users who typify the industry, said the event organisers.

The second half of the Cityscape Global Conference will be split between a facilities management programme, co-organised with the Middle East Facility Management Association (Mefma) and sponsored by Ejadah Asset Management, and a real estate Brokers programme, sponsored by Masterkey, it stated.

Quality facility management is key to protecting property values, lowering operational costs and improving the sustainability of our built environments. The industry is underdeveloped locally, but options are fast improving and changing the real estate landscape of quality products.

Ali Al Suwaidi, Mefma board member, will outline Dubai’s emerging star-rating system, which aims to bring transparency to the emirate's property market.

In addition, best practices will be shared by FM experts such as Abdulla Al-Wahedi, senior director facilities management at Emaar Properties, Ejadah Asset Management CEO Billy Daly, and Aly Alsherif, the vice president (design and construction) at Accor Hotels ME.

Facilitating the development and growth of the real estate brokerage industry, Marwan Ahmed Bin Ghalita, the CEO of Real Estate Regulatory Agency (Rera), the regulatory arm of Dubai Land Department, will open the real estate brokers programme with an exclusive insight into the industry and discuss the impact new regulations have on brokers.  

Nadia Butt, the managing director of Lanhill, highlighted the significance of the programme. "It is important because it brings together key people in the field to discuss ideas on how to enhance transparency and improve ethics and standards in the Dubai real estate market," she noted.

"This is crucial for developing a professional and regulated industry in order to protect the consumer, as well as the broker’s rights," she added.

Running one day prior to Cityscape Global, the conference addresses the three factors most changing the local real estate market, showcasing leading firms, as well as strategies now shaping urban development across Dubai and the greater region, the organisers said.
    
The 14th edition of the Middle East’s leading investment and development exhibition, Cityscape Global has grown by 30 per cent in 2015 and will host more than 300 exhibitors from 30 different countries in a significantly expanded exhibition arena, they added.-TradeArabia News Service