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[size=36]Calls to increase housing fund funding to $1 billion to meet citizens’ needs[/size]
economy | 07:07 - 10/30/2024
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Mawazine News - Economy
The Parliamentary Services Committee called on Wednesday to increase the funding of the Housing Fund to reach one billion dollars, to ensure that citizens' needs for housing projects in Iraq are met.
In this context, the Ministry of Construction, Housing, Municipalities and Public Works explained that it has allocated 25% of housing units in new cities to low-income people.
Committee member, Mahma Khalil, said in an interview followed by "Mawazine News": "The committee called for increasing the funding of the Housing Fund to one billion dollars, which will contribute to providing an integrated housing structure and enhance the government's efforts to alleviate the housing crisis and support Iraqi families in accessing adequate housing through easy and sustainable financing mechanisms," noting that activating this sector will positively reflect on 16 professional and craft fields, which will enhance economic activity and provide multiple job opportunities.
For his part, 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 delayed and stopped due to the circumstances the country has gone through, and work has resumed in some of them, revealing the government's orientation towards new residential cities, such as the Bismayah project, which will be invested in the right way by attracting developers and investors.
Al-Saffar pointed out that five new cities have been referred for investment, including Al-Jawahiri City in Baghdad and Ali Al-Wardi City, with work beginning on these projects. He
also noted that the new cities target the poor and middle classes by distributing serviced lands or housing units. Al-Saffar expected real estate prices to decrease in the coming years after the units are provided in large numbers, stressing that registration for housing units in these cities will not be opened before reaching advanced stages of construction.
In this context, the Ministry of Construction, Housing, Municipalities and Public Works explained that it has allocated 25% of housing units in new cities to low-income people.
Committee member, Mahma Khalil, said in an interview followed by "Mawazine News": "The committee called for increasing the funding of the Housing Fund to one billion dollars, which will contribute to providing an integrated housing structure and enhance the government's efforts to alleviate the housing crisis and support Iraqi families in accessing adequate housing through easy and sustainable financing mechanisms," noting that activating this sector will positively reflect on 16 professional and craft fields, which will enhance economic activity and provide multiple job opportunities.
For his part, 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 delayed and stopped due to the circumstances the country has gone through, and work has resumed in some of them, revealing the government's orientation towards new residential cities, such as the Bismayah project, which will be invested in the right way by attracting developers and investors.
Al-Saffar pointed out that five new cities have been referred for investment, including Al-Jawahiri City in Baghdad and Ali Al-Wardi City, with work beginning on these projects. He
also noted that the new cities target the poor and middle classes by distributing serviced lands or housing units. Al-Saffar expected real estate prices to decrease in the coming years after the units are provided in large numbers, stressing that registration for housing units in these cities will not be opened before reaching advanced stages of construction.
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