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Parliament: We support the initiative to increase housing units
Iraq 06/06/2024
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The Parliamentary Finance Committee pledged to support any initiative from the government or the Central Bank related to the residential sector due to the country’s need for housing units, as it will move the market and provide job opportunities.
Committee member, Jamal Cougar, explained in an interview with “Al-Sabah” that Iraq needs any initiative related to housing, as it will be a card to move the local market, noting the support for any request and initiative, and we add our voice to it to meet the needs of citizens due to the large shortage in the number of housing units.
Koger added that housing initiatives provide job opportunities for local workers in the private and public sectors, stressing the need to reduce guarantees while ensuring payment of these amounts that impose a mortgage on the housing unit as a guarantee at least until the amounts are paid.
Cougar added that there must be some conditions in the initiative, such as the government imposing limited prices on housing units suitable for people with limited income, in addition to there being government support by providing land and services and granting soft loans to project owners.
It is noteworthy that the Board of Directors of the Central Bank of Iraq called on the government and the House of Representatives to provide support to the Real Estate Bank and the Iraqi Housing Fund, by allocating an annual amount within the federal general budget to enhance the capital of each of them, allowing them the opportunity to implement their policy of granting housing loans to citizens.
Edited by: Adhraa Juma
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