Iran to build 200,000 apartments for low-income families

Business Materials 13 January 2020 09:42 (UTC +04:00)
Iran to build 200,000 apartments for low-income families

TEHRAN, Iran, Jan.13


Iran plans to build some 200,000 apartments for low-income families in the upcoming Iranian year (begins March 21, 2020), Deputy Minister of Roads and Urban Develpoment, Mahmoud Mahmoudzadeh said, Trend reports via ILNA.

"Iran will implement its national housing plan in the next two to three years. The low income class of the country is in priority, but even more qualified families aren't covered in the process. They will be revealed and added to this project," Mahmoudzadeh said.

"The project is in the planning stage and as we have stated previously. There will be separate plans for different decile. The details of our plan will be announced soon," he said.

"There are advances in this plan that was designed for the low income class. The land is almost free with no return loan rate for 99 years although the mortgage ceiling has not been declared yet," Mahmoudzadeh added.

The official said that the idea is to build more apartments for the low-income families in the fastest way possible.