Bank Maskan construction loans top $230 million in H1

Financial Tribune – Bank Maskan, the state-run agent bank of housing sector, granted a total of 62,944 construction loans worth 26,200 billion rials ($230.22 million) to real-estate developers across the country during the first six months of the current Iranian year (started March 21).

During the month ending Sept. 22, a total of 13,668 construction loans worth 5,710 billion rials ($50.17 million) to real-estate developers registered a 1% and 2.7% growth in number and value, respectively, Mohammad Hassan Alamdari, an official with the bank, told HIBNA.

Bank Maskan’s facilities are chiefly granted for home purchases and home constructions in various forms, including bond facilities and savings funds.