Graduation Semester and Year
2016
Language
English
Document Type
Dissertation
Degree Name
Doctor of Philosophy in Urban Planning and Public Policy
Department
Urban and Public Affairs
First Advisor
Ardeshir Anjomani
Abstract
With high economic growth rate, population rate, increased employment, and income opportunities, the demand for housing has increased, along with the lack of affordable finance mechanisms. A main concern of the housing problem in Saudi Arabia is the high demand compared to housing needs. Saudi Arabia lacks a housing finance framework or strategy to create flexible and affordable lending mechanisms to tackle the affordable finance problems. This research targets: 1) the middle income citizens to increase the homeownership rate and 2) the housing developer to increase affordable housing units and the investment in the housing market. This research compares the best western housing finance paradigms that have been successful in the housing finance policies, innovations, and institutions. This research investigates, suggests policy options, and develops a financial housing framework to provide affordable finance mechanisms for middle-income citizens and housing developers in Saudi Arabia. It is recommended that the current policy reform and that some of the applicable western housing finance policies, institutions, and innovations, applicable to the Saudi context, be adopted. This research explores stakeholders (e.g. governmental agencies, financial institutions, and the private sectors). This research addresses two main questions: 1) How should the housing financial framework be designed or modified in order to provide affordable housing finance mechanisms targeting the middle-income Saudi citizens and housing developers? 2) Considering western financial policies, innovations, and institutions, which of these are transferrable to the Saudi context that would reform the housing finance sector in order to a) provide both affordable housing finance and units for middle-income Saudi citizens and b) increase housing developers' participation in the Saudi Arabia housing finance sector? This research examines these questions through qualitative analysis of data and information gathered through interviews with official housing staff and stakeholders. The research findings assist in developing 1) a list of policy recommendations and critical success factors to implement the new financial framework in Saudi Arabia with the main housing sector stakeholders; 2) a list of the recommendations of the applicable western housing finance paradigms in Saudi Arabia.
Keywords
Housing finance, Housing development, Saudi Arabia
Disciplines
Public Affairs | Public Affairs, Public Policy and Public Administration | Social and Behavioral Sciences
License
This work is licensed under a Creative Commons Attribution 4.0 International License.
Recommended Citation
Alqannas, Musaed Khalid-AK, "DEVELOPING HOUSING FINANCE FRAMEWORK AS AN APPROACH TO PROVIDE AFFORDABLE FINANCE MECHANISMS FOR MIDDLE INCOME CITIZENS AND HOUSING DEVELOPERS IN SAUDI ARABIA" (2016). Public Affairs Dissertations. 188.
https://mavmatrix.uta.edu/publicaffairs_dissertations/188
Comments
Degree granted by The University of Texas at Arlington