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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Housing Fund.. Parliamentary moves to increase its funding to one billion dollars

    Rocky
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    Housing Fund.. Parliamentary moves to increase its funding to one billion dollars Empty Housing Fund.. Parliamentary moves to increase its funding to one billion dollars

    Post by Rocky Yesterday at 4:13 am

    [size=35][size=35]Housing Fund.. Parliamentary moves to increase its funding to one billion dollars[/size]
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    2024-10-30 | 03:27
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    [You must be registered and logged in to see this link.]News - Local

    demanded[You must be registered and logged in to see this link.]Parliamentary services increased the funding of the Housing Fund to reach one billion dollars, indicating that this comes to ensure meeting the needs of citizens for housing projects, while the Ministry of Construction, Housing, Municipalities and Public Works revealed the allocation of 25 percent of housing units in new cities to people with limited income.


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    Committee member, Mahma Khalil, said, “The committee called for increasing the funding of the Housing Fund to reach one billion dollars, to ensure meeting the needs of citizens for housing projects throughout the country,” noting that this approach aims to enhance the government’s efforts to provide an integrated housing structure, which contributes to alleviating the housing crisis and supporting Iraqi families in accessing suitable housing, according to easy and sustainable financing mechanisms.”



    He pointed out that these efforts come in response to the needs of citizens to obtain appropriate and effective housing financing, noting that the fund is currently linked to the Ministry of Municipalities, and thus it is a sovereign fund that must cover all parts of the country.[You must be registered and logged in to see this link.]The housing sector in general is stimulated.

    Khalil explained that activating this sector will have a positive impact on 16 professional and craft fields, which will enhance economic activity and provide multiple job opportunities.

    In turn, the official spokesman for the Ministry of Construction and Housing, Nabil Al-Saffar, explained that there are residential complexes in various governorates that have been subjected to delays and work stoppages due to the circumstances that the country has gone through, and work has resumed in some of them, and there are other complexes that will be referred to investment in agreement with the governorates, indicating that the government has sought new residential cities similar to Bismayah, but they differ in that they will be invested in the right way, by attracting developers and investors and granting them large areas of land, in exchange for allocating a percentage of the residential units to the state, which did not exist in the past.

    He pointed out that 5 of these cities have been referred and are being started, such as Al-Jawahiri City in Baghdad and Al-Ghazlani in Nineveh Governorate, where the company has begun conducting soil surveys, leveling, and installing caravans and their own factories, and Ali Al-Wardi City is in the process of starting it after completing the issuance of the investment license and registering the company in Baghdad, and the city of Dafaf Karbala in the holy governorate, which is 3 investment opportunities, and the Malaysian company, which is one of them, has issued its investment license for it, and is awaiting the other two companies, in addition to Al-Janain City in Babil Governorate, which is now in the process of issuing the license, noting that six other new cities will be announced for investment.

    Al-Saffar stressed that the new cities targeted the poor and middle classes, by distributing serviced lands or housing units at a rate ranging between 10-25 percent, and the assigned team will set the controls for the distribution, while the rest of the units will be for the well-off who can buy these units according to controls to be issued later, with the aim of controlling prices and preventing their escape, adding that there is a contractual clause prohibiting price speculation.

    He pointed to a government vision to find opportunities for partnership with banks to grant citizens soft loans over 20 years to help them purchase housing units, while the ministry's vision is to increase the housing stock in the country according to the issue of supply and demand.

    Al-Saffar expected that the coming years will witness a decrease in real estate prices after they are provided in large quantities by the ministry, denying at the same time opening any door for registration for housing units in those cities unless advanced stages of construction are reached.
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