Norio Saito: Development of rental housing in Asia will attract private investment

The Asian Development Bank advocates for the active attraction of private investment into the housing sector of Asian countries, Norio Saito, head of the Water and Urban Development Department of the Asian Development Bank, said during a roundtable held within the framework of the 13th session of the World Urban Forum 13 in Baku, according to Report.

"I call for broader use of public-private partnership mechanisms in the housing sector," Saito said.

The ADB representative also noted that, in addressing housing issues in Asian cities, policy should shift from a homeownership model toward the development of the rental housing segment.

As Saito emphasized, such an approach would significantly increase the volume of private investment in this sector and provide broader access to affordable housing for urban residents with low incomes.