IslamicFinance.de

A rapid rise of young population in the GCC is causing a surge in demand for housing that could lead to a massive shortage. There could be a scarcity of more than one million units by 2018, reveals a study by management consultancy Strategy& (formerly Booz & Company), and governments need to pursue more holistic policies to better meet people’s housing needs. Governments should drive sustainable development, promote public-private partnerships, establish prudent real estate laws and facilitate greater access to housing finance to revitalise the sector, the study adds. GCC countries are currently experiencing a shortage of housing, particularly for their large and growing populations of low-income residents.