Baghdad – INA – Amna Al-Salami
Right now, Tuesday, the Ministry of Development and Housing introduced the beginning of a plan to scale back the costs of residential items, and whereas it indicated the start of reaping its first fruits, it confirmed the intention to ascertain 7 residential cities for funding through the coming interval.
Ministry spokesman Nabil Al-Saffar instructed the (INA): “The Ministry has begun constructing new residential cities throughout the authorities program plan, which can present 1000’s of items.”
He defined that “the rise within the variety of residential items available in the market will result in a lower of their costs, on condition that the difficulty of actual property is topic to the difficulty of provide and demand,” indicating that “some house owners of enormous capital took benefit of the particular want for residential complexes, which led to a rise in costs.”
He added, “There’s a stagnation in present actual property costs,” noting that “the Housing Division’s plan extends from 2024 to 2030 and contains the institution of residential cities and Housing Fund loans, as all of those issues will result in a major decline in residential unit costs.”
He identified, “The Ministry is shifting in direction of establishing residential cities outdoors the middle, along with allocating a share of the items and giving them to the state in trade for granting land areas for funding.”
Al-Saffar pressured that “the cities to be established are exemplary and include instructional, well being and leisure amenities, along with being sustainable, environmentally pleasant cities that can take note of the usage of heat-insulating and environmentally pleasant supplies.”
He continued, “The challenge is big and the ministry has begun establishing 5 cities, along with 7 different cities that can be provided for funding within the coming interval.”