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The need for affordable housing is apparent, but an action plan has to be set out in order to encourage developers to jump on ship, according to a recent Gulf News article.
Public land targeted for development could be sold to affordable housing developers at a below-market price (in exchange for binding affordability commitments), or offered for government co-development, with the private partner as the co-developer in what is known as public-private partnerships.
When the affordable homes are complete, private developers could sell the finished units directly to suitable income-eligible homeowners, or to the government, which would then allocate the units to buyers or renters.
Governments could offer private developers who can access private undeveloped land financial and non-financial incentives to build middle-income housing (as partial or whole projects). Incentives could include easing and shortening government approval processes, relaxing planning regulations (particularly parking requirements), density bonuses, low-cost financing, and concessionary packages that reduce production-related costs, including materials and infrastructure.
