Iran opens nearly $1bn worth of housing projects

Iranian President Hassan Rouhani has rolled out over 51,000 new houses across the country as part of an affordable housing project that has faced criticism in recent years mainly because of its slow pace.

Rouhani’s website said in a Monday report that the government and developers had invested over 241 trillion rials (nearly $ 1 billion) on the construction of the homes which were scattered in several provinces across Iran.

The projects included homes handed over to low-income families under the Mehr Housing Scheme, a program which started more than a decade ago to provide housing to poor families living in large Iranian cities.

Nearing the end of its second term in office, Rouhani’s administration is facing criticism for its lack of involvement in construction schemes for major housing projects.

The president said on Monday that his government had mainly focused on financing mortgage schemes to help expand home ownership in Iran.