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Al-Emaar announces the imminent launch of the new loan mechanism for the Housing Fund
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Economy News _ Baghdad
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Added 02/02/2024 - 1:02 PM
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Economy News _ Baghdad
The Ministry of Construction, Housing, Municipalities and Public Works confirmed today, Friday, the continuation of granting housing loans, while announcing a new mechanism for applying for them.
The spokesman for the Ministry of Construction, Nabil Al-Saffar, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “the Housing Fund will soon announce the new mechanism that will be followed for electronic submission of loans, and there will be differentiation points for the purpose of including those eligible and achieving transparency and justice in their distribution.” He stressed that “all applicants will reserve their right to apply, but priority will be given to the categories most deserving of obtaining the housing loan.”
Regarding the Council of Ministers’ decision to increase the ceiling of housing loans to 100 million dinars for residential units, Al-Saffar said, “The increase is for the lending ceiling for residential complexes that will be built by the Ministry of Construction and Housing on the lands affiliated with it, while the current loans whose ceilings reach 60 million dinars.” “It is ongoing, and the new mechanism that has been developed and followed will be announced very soon.”
He pointed out that "the Fund works with self-financing and the amount of money it recovers from repaying previously granted loans, and it has cash liquidity that is granted as loans to other beneficiaries within the lending plan for this year's Fund, which amounts to 750 billion dinars."
He continued, "There are other opportunities to obtain housing units by starting to build new residential cities, which will create a population base through which the citizen can purchase a housing unit."
Regarding the Council of Ministers’ decision to increase the ceiling of housing loans to 100 million dinars for residential units, Al-Saffar said, “The increase is for the lending ceiling for residential complexes that will be built by the Ministry of Construction and Housing on the lands affiliated with it, while the current loans whose ceilings reach 60 million dinars.” “It is ongoing, and the new mechanism that has been developed and followed will be announced very soon.”
He pointed out that "the Fund works with self-financing and the amount of money it recovers from repaying previously granted loans, and it has cash liquidity that is granted as loans to other beneficiaries within the lending plan for this year's Fund, which amounts to 750 billion dinars."
He continued, "There are other opportunities to obtain housing units by starting to build new residential cities, which will create a population base through which the citizen can purchase a housing unit."
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Added 02/02/2024 - 1:02 PM
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