Construction Loans Worth Over $45 for Slum Areas

Home construction loans in urban slum areas have been paid to 17,000 applicants since last year (March 2019-20) up until now, Mohammad Hassan Alamdari, a senior official with Bank Maskan, the state agent bank of the housing sector, said. 
“The total value of these loans stands at 10,870 billion rials [$45.8 million],” he was quoted as saying by Hibna. 
“The ceiling on loans for construction of new buildings in urban slum areas has increased to 3.5 billion rials ($14,700),” managing director of Urban Regeneration Corporate Holding Company and deputy minister of roads and urban development, Mehdi Obouri, said in April 2020. 
Obouri noted that licensed real-estate developers, planning to reconstruct residential buildings in Tehran’s slum areas, will be granted 2.5 billion rials ($10,000) in loans; they can also take out housing bonds worth 1 billion rials ($4,200) from Bank Maskan, the state-agent bank of the housing sector. 
“A maximum of 2.3 billion rials [$9,700] of construction loans will be granted to professional real-estate developers planning to build new buildings in the slum areas of other large cities and provincial capitals with a population of over 200,000 and 1.4 billion rials [$6,000] to those in cities with fewer than 200,000 residents.