Tuesday 25 October 2011

Arab cry for affordable housing answered - FT.com

Dubai’s Emaar Properties aims to tackle one of the main socioeconomic drivers of the unrest that has driven Arab revolutionary ferment this year: affordable housing.

Dawahi Development, the property company’s specialist subsidiary, has been 18 months in the making, so the initiative predates the Arab spring, but the timing of this week’s launch is striking.

In a changed world, the developer that built the Burj Khalifa, the world’s tallest tower and the embodiment of Dubai’s deluxe real estate market, says Dawahi is as much about philanthropy as it is about profit.

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