Iran partially pays subsidies to construction company as part of Mehr Housing Project

TEHRAN,Iran, May 25

Trend:

Iran's government has paid out 25 percent from the subsidies for the Mehr Housing Project participants to the contractor company, said Managing Director of Pardis Construction Company Mehdi Hedayat, Trend reports via Tasnim News Agency.

Mehr Housing Project is a large-scale construction program initiated in 2007 by then Iran's president Mahmoud Ahmadinejad to provide affordable apartments for two million low-income people through free land and cheap credits.

"The government has basically provided all the financial resources and bank advances for the Mehr Housing Project in the past two years," he said.

Hedayat went on to say that some 250 million rials (about $5,900) was provided to each project participant by the government, to prevent dealers trading empty apartments.

Meanwhile, Director General of Road and Urban Development Office in Tehran Province Khalil Mohabatkhah said that countless times the dealers have sold some apartments without any residents living there, and subsidies weren't assigned to these owners.

"There are individuals that have paid their share for the apartments, but there are those who haven't, and they are not eligible for the government subsidies. So they should pay up to get eligible, and get their apartments," he said.

Mehr Housing project is a large-scale construction program initiated in 2007 by Mahmoud Ahmadinejad's administration to provide affordable housing for two million low-income people through free land and cheap credits.