Iran provides land for affordable housing project

Iran Materials 19 October 2021 11:52 (UTC +04:00)
Iran provides land for affordable housing project

TEHRAN, Iran, Oct,19


Iranian government provides land in 800 cities for construction of four million housing units, said the Minister of Road and Urban Development, Trend reports citing IRNA.

The land has been assigned to the construction of housing units and their information will be registered at an online data bank in the next three months, Rostam Ghasemi noted.

The Minister of Road and Urban Development has already prepared the land for the construction of 2 million housing units. The Central Bank of Iran (CBI) is to provide necessary advances to the project.

The Money and Credit Council is to approve loans for housing construction including 4 billion rials (about $95,000) for provinces and 2.5 billion rials ($59,000) for villages.

Iran Ministry of Road and Urban Development plans construction of two million housing units for low-income class in one year as part of government landmark housing plan to build four million residential units in next four years to maintain the surging prices in the housing market.

Mehr Housing Project and the National Housing Action Plan were two other affordable housing schemes, previously launched by formers administrations that faced a shortage of resources.