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[size=35]Iraq meets a third of housing needs, two directions identified to solve the crisis completely
03/11/2024[/size]
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The financial advisor to the Prime Minister, Mazhar Mohammed Salih, told the official agency that “the government, through its housing policy, was able to meet a third of Iraq’s needs for housing units, estimated at three million units.”
“There are two approaches to address the remaining housing crisis. The first is to allow investors to work on the BOT model, which stands for build, operate, and transfer ownership, where investors build and operate housing units, then transfer ownership to the state, which sells them at prices and installments that are commensurate with the income of families, while developers prepare the infrastructure for these complexes,” he said, noting that “this approach is currently being implemented in most of the new cities that have been announced in Baghdad and the governorates.”
He explained, “As for the second trend, it depends on the state distributing land among citizens, while real estate developers undertake the work of preparing the infrastructure, including water, sewage and electricity networks, in addition to roads and streets.”
Saleh stressed that "the Real Estate Bank, the Housing Fund and other government banks will provide soft loans to support both directions, which will contribute to alleviating the housing crisis."
03/11/2024[/size]
[You must be registered and logged in to see this link.]
The financial advisor to the Prime Minister, Mazhar Mohammed Salih, told the official agency that “the government, through its housing policy, was able to meet a third of Iraq’s needs for housing units, estimated at three million units.”
“There are two approaches to address the remaining housing crisis. The first is to allow investors to work on the BOT model, which stands for build, operate, and transfer ownership, where investors build and operate housing units, then transfer ownership to the state, which sells them at prices and installments that are commensurate with the income of families, while developers prepare the infrastructure for these complexes,” he said, noting that “this approach is currently being implemented in most of the new cities that have been announced in Baghdad and the governorates.”
He explained, “As for the second trend, it depends on the state distributing land among citizens, while real estate developers undertake the work of preparing the infrastructure, including water, sewage and electricity networks, in addition to roads and streets.”
Saleh stressed that "the Real Estate Bank, the Housing Fund and other government banks will provide soft loans to support both directions, which will contribute to alleviating the housing crisis."
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