Abu Dhabi to have affordable housing for low income earners

Here we are with the latest and very important news for the expats living in Abu Dhabi. Statement which is stated in a selective meeting of Urban Planning Council (UPC), “We have been working intimately with our partners from the private and open segment keeping in mind the end goal to ensure that we do handle this fragment. We are in the final phase of the policy and once the strategy is endorsed by the administration we will assure to incorporate it inside our group offices planning standards.” stated by the Executive Director of Infrastructure and Planning Sector at the UPC in Abu Dhabi i.e. Abdulla Al Sahi.

The moderate housing policy is in the conclusion organize and is required to be affirmed before end of 2016,” Abdulla Al Sahi, said in a selective meeting.

A significant update in housing improvement is being finished in Abu Dhabi, with the emirate wanting to present another approach that will make building reasonable houses required in all new professional advancements, Emirates all day, every day can betray.

Abu Dhabi faces a “major shortage” of affordable housing, with most people unable to buy property and annual rents for two-bedroom homes as high as $49,000, the Cityscape exhibition heard on Tuesday.

Experts pointed to a “huge mismatch” between the price of homes in the capital and average UAE salaries, which one consultant estimates at $4,600 a month.

David Dudley, regional director at the consultancy JLL, pointed to the shortfall in cheaper properties in an address on the opening day of Cityscape Abu Dhabi, which runs until Thursday.

“There is a very major shortage of affordable housing,” he said.

But Aldar, the UAE capital’s biggest developer, this week launched its first properties geared towards middle-earners – and some say other property firms will follow.