Bahrain-based Naseej, the first fully-integrated real estate and infrastructure development company in the MENA region, has joined forces with Cityscape and Sakana Holistic Housing Solutions to launch a new two-day MENA Mortgage and Affordable Housing Congress.
Taking place on 23 and 24 November 2011 in Bahrain, this first-of-it is-kind congress will provide a platform dedicated to addressing two of the most pressing issues facing the real estate and finance industries – affordable housing and home finance. A shortage in affordable housing is estimated in hundreds of thousands across the region, with excessive land prices and an immature mortgage market making home ownership near to impossible for much of the population.
Commenting on this landmark initiative, Naseej chief executive officer Mr Christopher Sims, said: “We view this keynote event as a most timely forum for all players – from both the public and private sectors – to debate key issues, explore new ideas, and identify key solutions to the key challenges facing the MENA region’s affordable housing and mortgage finance sectors. We hope the congress will encourage greater participation between players, and foster the establishment of new strategic alliances to facilitate faster progress in affordable housing across the region.”
Affordable housing is arguably the most pressing socio-economic issue on the MENA region’s agenda; while development of the nascent regional mortgage market – valued in excess of US$ 100 billion – has been affected by the global financial crisis. The aim of the MENA Mortgage and Affordable Housing Congress is to act as a catalyst in speeding up progress in addressing such challenges, and providing sustainable solutions to meet the housing needs of the growing number of middle-income households across the region.