A housing project under development in Cairo. Dana Smillie for The National
A housing project under development in Cairo. Dana Smillie for The National
A housing project under development in Cairo. Dana Smillie for The National
A housing project under development in Cairo. Dana Smillie for The National

Critical housing shortage across the Middle East and North Africa


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  • Arabic

The need for affordable housing across the region, but some countries are facing critical shortages:

Saudi Arabia

The kingdom will need an additional 973,000 homes over the next five years, NCB Capital estimates. Builders have focused in recent years on luxury homes, which the majority of the population cannot afford.

Mortgage financing is still rare, making it difficult for families to buy the homes that are available. With 58 per cent of the population under age 25, the demand is expected to increase dramatically in the next 10 years.

Bahrain

The availability of affordable housing turned into a key issue in the social unrest that has rocked the country this year. Eighty-six per cent of households qualify as low-income, according to the property company Jones Lang LaSalle.

More than 50,000 families are on a waiting list for social housing. This year the government announced a US$6.6 billion (Dh24.2bn) construction programme, but progress has been slow.

Iraq

More than 1 million homes are needed in Baghdad alone, officials estimate. But the needs around the country are certainly far greater.

Iraq has a population of 33 million and there has been little investment in housing for 30 years. Al Maabar and Bloom Properties are among the UAE companies hoping to develop projects in Iraq. But bureaucracy and a lack of infrastructure have slowed developments.

Egypt

The greatest shortfall in the region is in Egypt, where more than 1.5 million homes are needed, Jones Lang LaSalle reports.

With 80 per cent of country's population being low-income earners, the average home price is 18 times the typical annual salary; in the US it is 2.8.

Morocco

Described by Jones Lang LaSalle as "one of the most mature affordable housing sectors" in the region, Morocco still has an estimated shortfall of 600,000 homes. The government has been developing public-private partnerships, offering subsidised land and tax breaks to developers.

The Arab Spring may prod the government to speed up its efforts.

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4/5 stars 

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Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan

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Sector: Financial services

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Investors: Self-funded to date with $1m of personal savings

COMPANY%20PROFILE
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COMPANY%20PROFILE
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RESULTS
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FIXTURES

All kick-off times UAE ( 4 GMT)
Brackets denote aggregate score

Tuesday:
Roma (1) v Shakhtar Donetsk (2), 11.45pm
Manchester United (0) v Sevilla (0), 11.45pm

Wednesday:
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Barcelona (1) v Chelsea (1), 11.45pm

So what is Spicy Chickenjoy?

Just as McDonald’s has the Big Mac, Jollibee has Spicy Chickenjoy – a piece of fried chicken that’s crispy and spicy on the outside and comes with a side of spaghetti, all covered in tomato sauce and topped with sausage slices and ground beef. It sounds like a recipe that a child would come up with, but perhaps that’s the point – a flavourbomb combination of cheap comfort foods. Chickenjoy is Jollibee’s best-selling product in every country in which it has a presence.
 

10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

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