A top executive at Deyaar Properties verified that they would probably put up affordable houses in Dubai without sacrificing the final product’s quality and maintaining the cost low.
According to the Managing Director of Asteco, in the last two years, the rentals in the International City and commercial buildings in Sharjah have witnessed the impact of tenant in search of an affordable place to live. There are locations in Ajman are now having non-occupancy status of below 15% compared to the 50% during the downturn.
Based on the research conducted by CBRE Middle East, the annual growth on rentals of residential properties measured 24% , apartments are the major contributor for the growth. Locations such as Sports City, International City and Jumeirah Lakes Towers have shown highest rental increase.
Meanwhile, Global Capital Partners (GCP), has been thinking about developing affordable homes in Dubai for the reason that many are forced to go to Sharjah and Ajman caused by the increasing rents taken from their monthly budgets.
The Mohammed Bin Rashid Scheme has modified housing schemes for the population. It basically allows extensive base of the population to take part in the housing growth in the city and the country. A policy for the development of middle –class housing is also taken into consideration for the benefit of the expatriate population.