TEHRAN, Iran, Mar.15
Trend:
Iran's banks will provide loans to housing construction in the new Iranian year (starts March 21, 2022), said the Minister of Road and Urban Development Rostam Qasemi, Trend reports citing Mehr News Agency.
"The parliament approved the assignment of 400 trillion rials (about $95 million) loan from bank resources for house construction. The ministry would allocate 40 trillion rials ($9.5 million) deposit resources for housing applicants and the National Housing Fund will offer proper instruments as well," he said.
According to the minister, the National Housing Movement plan has signed an agreement with some foreign countries to use industrial technology for construction. More than five million individuals have registered for the national housing project.
The government landmark housing plan is set to build four million residential units for the low incomes in the next four years to maintain the surging prices in the housing market.