The problem of housing a large number of people in a smaller span of time has spurred real estate companies to create mass housing options.
The Middle East has been grappling with a unique housing problem in recent times. Dealing with the high numbers of expats and younger age groups wanting accommodation has not been easy in Saudi Arabia, UAE and Egypt. More and more people have been demanding decent accommodation in the city centres. There is a high demand for both rental and owned accommodation. There is a thriving culture of business in the Middle East. These businesses and corporations attract a fair number of expats from all over the world. According to this report, there is a shortage of housing options for this demographic. People moving to Saudi Arabia and the UAE for work also spend a lot of their salaries on paying monthly rent. Thus, there is an immediate need to revamp the housing sector such that more affordable and accessible houses are created for all. The report further explains that the housing problem affects as many as 62 per cent houses in Saudi Arabia. But on the plus side, this is the ideal opportunity for private land development companies and top real estate companies in Saudi Arabia to maximise the potential for housing. Dealing with the housing problem Today, top real estate companies in Saudi Arabia are providing affordable housing units to expats and local residents. The middle income group is the target demographic for most land development companies based here. Understanding the need to create houses for the middle income group, these businesses are offering all-round housing projects for a pleasing living experience. On the radar are building neighbourhoods with every amenity and infrastructure that residents can easily access. Rightly understanding that people need to live close to their places of work, these businesses are identifying land near prominent business centres. These lands are then being converted into prime residential and commercial projects for a variety of uses. The entry of private land development companies in the housing arena has turned the notion of ‘affordable housing’ on its head. Previously, affordable housing projects carried a drab, monotonous look and finish. Today, these businesses are creating mass housing projects that are contemporary and well equipped in every way. From their appearance to their functionality, these homes lack nothing and are built using superior technology and materials. Adding to the new wave of affordable housing in Saudi Arabia is the use of pre-cast technology in construction. Pre-cast homes are built very quickly and they are quite durable as well. This brings down the overall project cost and delivery times. Another dimension that these construction businesses are offering is the building of energy efficient and sustainable homes.
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Energy sustainability holds the key for technological innovations and expertise to maintain the ecological balance of the world.
In a world where population is constantly rising, it is need of the hour to create alternative energy sources. Humankind can be served better only when there are enough sources of power, light, food and most importantly water. This implies that we cannot sustain ourselves on natural resources alone. Hence, one needs to take renewable energy sources into consideration. These are energy sources that are clean and sustainable. However, renewable energy generation requires a detailed plan and complex processes to succeed. The important areas in renewable energy generation 1) Harnessing solar and wind energy: The MENAT region receives abundant sunlight that can be harnessed for power generation. The region also receives strong wind speeds, which can also be utilised adequately. The best energy companies have long been channelling the power of both these naturally occurring power sources. Thus, they are involved in the creation of innovative products in the solar engineering and development spectrum. Where direct manufacture and technical expertise is not available, these leading energy companies are tying up with established businesses with their financial acumen. 2) Energy efficiency and replicable technology: The judicious use of available energy is the need of the hour. Equally important is the exploration and creation of technologies that make efficient use of energy. The top renewable energy companies in the GCC are already involved in R&D and technical refining of several initiatives that will attain these goals. 3) Exploring alternative sources: It is not enough to depend only on solar and/or wind power for renewable energy. The time is ripe for exploring other resources such as bio-waste, waste-to-energy models, hydropower and thin-film, self-cleaning hydrophobic nano coatings for solar panels, among others. While the need for clean and infection-free water is important, so is the need for desalination as well as efficient, low-energy waste disposal. 4) Helping ‘glocal’ economies: It is important to respect the ecology while attaining the objectives of safe and efficient renewable energy sources. There is tremendous scope to alleviate human suffering with the use of the technologies outlined above. At the same time, when renewable energy companies set up plants in different locations, they help generate employment at the local level. This is a ‘glocal’ connect, where the needs are universal but the immediate financial impact is local. When more jobs are created and training is imparted at all levels, a skilled workforce can help advance the goals of renewable energy. |
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September 2016
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