Financial Tribune - The Statistical Center of Iran has published its latest figures on the number of building permits issued in the country.

The new data show the number of permits issued during the fourth quarter of the last fiscal year that ended on March 20, 2019, increased significantly both compared with the preceding quarter (Sept. 23-Dec. 21, 2018) and the same period of the year before.

According to SCI, 114,614 building permits were issued by municipalities in Iran’s urban areas in Q4, indicating a 50.1% increase compared with the previous quarter and an increase of 23.9% when compared with the corresponding quarter of last year.

The average number of residential units to be built as part of each permit issued in Iran stood at 2.5 and the average floor area of units per permit was 466 square meters.

In the capital city, 18,953 building permits were issued by Tehran Municipality in Q4, indicating a quarter-on-quarter growth of 12.5% and a year-on-year increase of 25.4%.