UPC Launches a New Policy to Provide More Affordable Accommodations in Big Cities

UPC Launches a New Policy to Provide More Affordable Accommodations in Big Cities In an attempt to provide proper accommodation with affordable rent for middle-income residents, The Urban Planning Council (UPC) passed a new policy on Tuesday that encourages estate developers to provide consumers with houses that do not cost more than 35 % of a family's total income in one year.

Estate analysts and economists in Abu Dhabi assured that the affordable rental program has always been the target of the UPC’s administration. Michael White, Senior Planning Manager at the UPC said that the program is monitored directly by the Government, to ensure that the program is applied within a strict deadline, with every project being delivered in its independent delivery schedule.

Experts also added that this policy will definitely boost Emirate’s economy.

However, Saud Masoud, the Head of Research and the Senior Real Estate Analyst, commented on the policy in general, saying, “Overall, this move may not be a turnaround catalyst as the property sector has to deal with macro issues including financing as well as cumulative oversupply in Dubai and Abu Dhabi combined". Masoud also added that the program might end up with more middle-income families to take refuge in the big cities, Abu Dhabi and Dubai, as a result of this policy.