The lack of affordable housing in Dubai

Dubai

private developers have recently announced the construction of low cost housing was not their first priority. High land prices in the emirate have prevented him from taking assignments of low-end housing. According to Ahmad Al Abdullah, chairman of New Dubai Properties, which has built 22 projects worth in projects, the construction of luxury apartments, office buildings and hotels in Dubai, more than seven billion U.S. dollars in the emirate, high prices force developers. These bring much better returns, which may make housing affordable compared. There is already a shortage of three and four stars in Dubai that many construction companies are trying to do business. Nobody dares housing projects in low cost has announced the other hand, however.

According to various estimates 40% of the project is generally for the purchase of land, while the rest is needed in business plans. This means that the low cost housing in Dubai may never be profitable in today’s scenario. There are only four blocks outside of twelve commercial towers and built six hotels in Dubai, Dubai Properties, the new date. Dubai government has failed to examine his land prices up now, while inflation in the property sector. This has also affected the market for cheap hotels in Dubai in a negative way. There is no shortage of luxury hotels in Dubai, on the other hand, however, and many local and offshore players queuing for the construction of many new five star hotels in the emirate.

expensive real estate prices in Dubai is why many people decided to stay in Sharjah and up to three hours drive from Dubai and a daily rate. While Dubai can stay hotels and apartments is the place for high-flying executives, CEOs and recreation, many people who can not afford, accommodation in apartments or hotels in Dubai. Government efforts to promote housing projects to low cost have always been in “non-starter. The request with the largest, highest and most modern infrastructure in Dubai costs escalated dramatically. Although there is a boom for tourism State may, there are many who think otherwise. The need to save money to send home can not allow that many expatriates to buy property in today’s scenario, so they need to stretch before a large scale elsewhere barriers .

Government of Dubai will find a way to maintain a balance between unnecessary projects and affordable housing. A segment of the free countries should be given favorable conditions to make it a reality. It should not be ignored for too long, because a large expatriate workforce keeps arriving in Dubai on a daily basis. It is to slow the fear that the lack of affordable housing in the region to the total growth. Foreign increasingly difficult to buy an apartment in Dubai today. Some construction companies have already moved to other areas within the UAE pulled a goal for facilities is low cost. This has the potential to inflict Dubai economy is difficult, unless the examination by the authorities shortly.