Real estate authorities in Dubai should follow Abu Dhabi’s lead in providing rental options for low earners or risk areas becoming as unaffordable for the average population as parts of London, according to Cluttons’ head of research.
In August, the Department of Municipal Affairs and Transport at the Abu Dhabi City Municipality announced a workshop to encourage developers to build accommodation for those earning Dhs4,000 ($1,090) to Dhs6,000 ($1,634) a month, and bachelors earning Dhs2,000 ($545) to Dhs4,000.
Rents for each group would range from Dhs1,400 ($381) to Dhs2,100 ($572) and Dhs700 ($191) to Dhs1,400 a month respectively.
“It’s good the authorities have stepped in”, said Faisal Durrani, adding that a similar approach would be beneficial in Dubai.
“Developers are launching things branded affordable and the municipality is trying to set land aside for affordable housing. But it's important to have a unified strategy as to what it means, who qualifies, and how long you can stay there. Any grey areas need to be cleared up.”
هذه القصة مأخوذة من طبعة September 2017 من Gulf Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة September 2017 من Gulf Business.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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