Investments down in Iran’s construction sector

Business Materials 8 February 2016 17:38 (UTC +04:00)

Tehran, Iran, Feb. 8

By Mehdi Sepahvand - Trend:

In the first three months of the current Iranian year, which started March 21, 2015, the investments in new construction projects in Iran stood at 190 trillion rials (close to $6.3 billion).

The figure is 6.4 percent lower than that in the same period of the preceding year, Iran's Tabnak news agency reported Feb. 8.

Meanwhile, housing had the highest share of the investment, namely 72.3 percent of the total amount, the report adds.

Reportedly, 43.5 percent of the investment accounted for the provinces of Tehran, Isfahan, and Fars, with 28.4, 8.5, and 6.6 percent respectively.

In the said period, 35,251 housing units were built by the private sector, which indicates a decline by 25.8 percent.

The average cost of construction of houses stood at about six billion rials (over $200,000), during the same period.