Largest Housing Project Launched in Bandar Abbas

The Urban Regeneration Corporate Holding Company has kicked off Iran’s largest housing project in Bandar Abbas in the southern Hormozgan Province. 
According to Deputy Minister of Roads and Urban Development Mehdi Obouri, the company will invest 70,000 billion rials ($297 million) in this project, which includes the construction of 10,000 dwellings in 605 housing blocks spread over 350 hectares, the ministry’s news portal reported. 
“Notably, the buildings will account for less than 30% of the housing estates, i.e., 250 hectares will be outdoor public spaces, including green space and cultural, religious and educational complexes. Each unit will have a floor area of 100-150 square meters. The contract duration is 48 months, but the units are scheduled to be delivered within 38 months. The final price of each unit will be determined at the time of delivery,” he said.