Iran expects to improve housing projects

Business Materials 23 March 2021 00:00 (UTC +04:00)
Iran expects to improve housing projects

BAKU, Azerbaijan, Mar.22


Iranian government hopes to remove obstacles on housing production in the current Iranian year (started March 21, 2021), said Minister of Road and Urban Development.

"We hope the shortage in housing production would be resolved and production obstacles would be compensated by the government by providing land and creating a mechanism to finance the construction," said Mohammad Eslami, Trend reports citing Fars News Agency.

"We would seriously follow the issue so in new Iranian year living conditions would improve. The proper base for housing production leap should be provided to supply sufficient housing to people's mass demands. Last Iranian year part of sterile lands was assigned to Ministry of Road and Urban Development and Ministry of Agriculture to build houses," he added.

"We would try to introduce qualified housing applicants to all banks in new Iranian year to have the chance to obtain financial loans for housing. The government and Monetary and Credit Council has agreed to provide 20 percent bank loan for housing sector from the budget in current Iranian year," he noted.

"We have requested from the government and the Central Bank of Iran to increase loan celling by 50 percent and hope that political issues that have affected country's economy and value of the national currency would be resolve and we can boost productive sector of the economy," Eslami pointed out.

Iranian government's National Housing Action Plan aims to construct 400,000 small and medium-size apartments (70-100 square meters in size) across the country and particularly in Tehran, where housing prices have risen most sharply.

Nearly half of the total number of the said houses will be constructed in Tehran’s suburban "new towns" such as Parand and Pardis, respectively located in the west and east of the city.