Abstract
There is a well-documented relationship between economic prosperity and housing insecurity, which is particularly true in rapidly urbanizing societies. But the growing prosperity of urban regions introduces a paradox of economic success stemming from the rising costs in such regions. The additional economic impact associated with the growing appreciation for the need of environmentally sustainable built environments is having devastating results on housing costs. Government programs typically step-in to provide an array of housing assistance programs to lower income demographics. However, public finances are being strained by multiple needs, including the massive pandemic containment effort, which is further exacerbated across the GCC due to the simultaneous rout in oil demand. The REIT Center therefore urges a rethink of the status quo, advocating for collaboration by ESG and social infrastructure investors, the use of special-purpose REIT vehicles, and a shift to modular construction to craft a long-term, sustainable solution to housing affordability.
