Domestic Economy

President Launches Housing Projects

President Launches Housing ProjectsPresident Launches Housing Projects

President Hassan Rouhani launched a series of government-backed housing projects via videoconferencing on Oct. 22. 
“A total of 11,600 residential units out of 400,000 homes for middle-income households built under the National Housing Initiative were inaugurated across eight provinces,” Deputy Minister of Roads and Urban Development Mahmoud Mahmoudzadeh was quoted as saying by Mehr News Agency.
“The government provided 14,000 billion rials [$48.78 million] of the total investment of 55,000 billion rials [$191.63 million] needed to complete these residential units in the form of granting land as per 99-year lease agreements to housing cooperatives. The construction of these residential units, which started in early 2019, created 33,000 jobs.” 


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