TAHER SUTERWALLA BELIEVES AFFORDABLE HOMES NEED MORE ATTENTION

Contrary to what people think, UAE isn’t home to only rich sheikhs. There are those who live a life bound by financial constraints. They earn an honest and modest living but cannot afford to stay in premium luxury apartments. For them, owning a luxury car might just always remain a dream. This is one reality of UAE which gets over shadowed by the extravaganza. But the reality is that around 60% of population in Dubai and other parts of UAE belong to the medium income strata. Taher Suterwalla strongly opines that this category should be looked on to and projects should come up for the same. There is a dire need of having more affordable housing projects.

The shortage of affordable housing projects is an important concern all across Middle East, especially in Egypt, Dubai and Saudi Arabia. Taher Suterwalla opines that a few policies should be drafted, making construction of affordable homes a must. The middle class sector is forced to live in rental accommodations as purchasing a property is out of their bounds.

As per a report by JLL, around 3.5 million affordable homes need to be constructed in UAE. This in itself conveys the gravity of the situation. Taher had developed View Emirates with a vision to bridge a gap between what consumers were being promised and what they received. And he now thinks the focus should be on affordable housing schemes. There needs to be coordination between government authorities and private players to achieve this. Developers should be provided with an access to affordable land. This will reduce the overall cost of the house making them within the reach of the middle sector.

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  1. June 18, 2010
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