JEDDAH – The upcoming Jeddah Economic Forum 2013 aims to discuss "housing the growing population" as housing becomes a challenging issue locally, regionally and internationally, said Dr. Ahmad Rida of Ernst & Young Saudi Arabia (JEF's Knowledge Strategic consultant) during a workshop held Tuesday at the Jeddah Chamber of Commerce and Industrial (JCCI). He said “it is probably the most sensitive issue discussed these days in Saudi Arabia and also in other countries because the demand of affordable housing rises rapidly. We cannot tackle the issue immediately but at the forum we hope to provide solutions and suggestions for the housing issue and also will provide recommendations for government bodies to be able to solve this issue.” Ten Saudi ministers will be attending at the same time during one of JEF's sessions and workshops, a first for JEF. Their participation comes as part of JEF 2013's theme which revolves around "Housing the Growing Population" and discusses housing issues in Saudi Arabia and the region through an international perspective highlighted by the participation of leading economists and specialists from various backgrounds. “With the presence of such decision makers and experts, it is our role to highlight the issue of housing and let these ministers to discuss it openly and later we can come out with our recommendations to be implemented by the government,” he said. In his presentation, he said there are ways of tackling the issue, which include land allocation, land taxation and release, streamlining of approvals, modernizing planning and building regulations and managing expectations to help lower the sale price of a home. Rida added: “By 2050 the population of MENA countries will almost double of the current number and this net growth will be in cities, because people in these countries are moving, from rural to urban. That is the moment of opportunity when countries will have to move beyond emerging market status but will require large numbers of quality, urban, affordable homes for people to own or rent.” He noted that Ernst & Young plans to unveil the report's recommendations at the upcoming Jeddah Economic Forum on March 16-18 March, but added that government cannot tackle the problem on its own.
