Dubai Land Dept. plans affordable housing review
Dubai's Land Department, Economic Department, and Municipality are said to be collaborating on the study that covers developer incentives and buyer financing
Dubai is set to unveil a study on steps to develop the city's affordable housing sector.
Policy recommendations are expected to follow the review, it has been reported.
Dubai Land Department (DLD) director-general, Sultan Butti Bin Mejren, said the government is supporting the growth of the affordable housing sector.
In an interview with Arabian Business, Bin Mejren said DLD is working with the Department of Economic Department (DED) and Dubai Municipality on these plans.
Topics being reviewed under the study include developer incentives and buyer financing.
The study is also expected to define what constitutes as 'affordable' housing in Dubai.
However, it is unlikely that new laws to regulate the sector will be set by the government departments at this stage, the report added.
"There are plans to consider affordable housing and [define what “affordable” means]," Bin Mejren said.
"A committee has been working out a benchmark for affordable housing [costs] and there are some ideas for how to stimulate development of this sector.
"The committee’s study has completed, we have finished some recommendations, we have a meeting in two months’ time and after that we will take some actions, possibly new policies, but not necessarily new laws," he added, according to the report.