One hundred thousand homes will be constructed for people of modest means in cooperation with Kuzu Group, a Turkish construction company.
According to Alaeddin Khataei, the managing director of Iranian Barter Market, the contract between the Turkish firm and his company was signed for accelerating the supply of homes and reducing home prices.
Noting that both sides will participate in financing the project using domestically-produced construction materials, Khataei said, “The project would create at least one million jobs and energize factories engaged in the construction industry. These residential units will be offered to people belonging to low-income deciles without requiring any advance payment. These units will be granted in the form of Qarzol-Hassaneh [interest-free credits].”
“The construction of 300,000 homes has been planned over the next three years. Two more Turkish real-estate developers will also invest in similar project,” he added.
According to IRNA, Kuzu Group has already participated in the construction of 17,000 and 20,000 homes in Tehran’s Pardis and Parand new towns, respectively.
Established in 1943, Kuzu Group has contributed to Turkey’s economic development with many mass housing projects, schools, hospitals and government buildings. To date, the group has completed more than 500 construction projects and 100,000 housing units in three continents.
The Turkish group was awarded the tender for Western Tehran Wastewater Treatment Plant construction in 2016. The project, which has a contract value of €125 million, is financed by Islamic Development Bank and will be the largest WWTP in Iran. Project design and construction started in 2017, the company’s website reported.
Iran’s construction industry supplies 100% of the raw materials it needs from local market, according to Jafar Sarqeini, a former caretaker of the Ministry of Industries, Mining and Trade.
“Iran's steel, cement, tile and ceramic industries produce more than twice the country’s domestic demand. Of $10 billion worth of exports by the mining sector in the last [Iranian] year [March 2019-20], exports of construction materials accounted for $7 billion. Today, Iran is one of the major steel exporters in the region and one of the main cement exporters in the world,” he said.
The official made the statements at the opening ceremony of the 20th edition of International Exhibition of Building and Construction Industry and the ninth edition of International Exhibition of Elevator Industry, Escalators, Elevating Conveyors, Spare Parts and Equipment, which opened concurrently at Tehran's International Fairgrounds on Sept. 10.
