New Bank Maskan Policy Outlined

Maskan Investment Group, the parent company of Bank Maskan, has outlined the group’s new policy in line with the bank’s efforts to spur the housing market.  Iran’s property market has been beset with a supply-demand imbalance and a sharp depreciation of rial against the US dollar in April, which have squeezed the consumer purchasing power. Rouzbeh Zahiri, the group’s managing director, said based on the new policy, developers are required to stick to a tight timetable for housing construction projects, which would specify the start date, duration and other details until the project is completed, HIBNA reported on Thursday.