Construction of 200,000 small rental units in southern areas of Tehran

Mahmoud Shayan stated at the construction and housing industry technology conference that the participation period of housing construction facilities is at least 24 and at most 36 months. Due to the low cost of money, builders tend to short They don’t participate in the construction period, while with new construction technologies, the construction period can be reduced to six months.

He added: Almost 100% financing of housing projects comes from the money market, and we could not enter into financing housing projects through the capital market.

The managing director of the Specialized Bank of the housing sector said: Bankers are not interested in the capital market process. However, we have to change the method of financing projects and go towards financing from the capital market.

Shayan clarified: We went to Islamic contracts for financing in the banking network. And we did not go to methods such as pledge, internal LC and bank guarantee.

He added: “According to the law of jump in housing production, banks must give 20% of their payment facilities to the housing sector, but other than the bank that operates the housing sector, other banks have rarely entered.”

The managing director of the specialized housing sector bank emphasized: The banker is willing to pay taxes for the non-implementation of the housing production jump law and not providing facilities, but he is not willing to suffer due to the long repayment period of the housing facilities. In my opinion, the law has been explained correctly, because in the housing production surge law, it is not stated that the bank should give new facilities to housing, but 20% of the facilities it previously provided should be used for housing construction.

Shayan pointed out: In the previous government, the share of the housing sector in bank facilities decreased from 18 to 5 percent, the result of which we can see in the current situation of the housing market. The total housing credit line was 55 thousand billion tomans, but the bank responsible for the housing sector has signed a contract for the payment of 46 thousand billion tomans and has paid 26 thousand billion tomans.

Referring to the methods of financing housing projects from the capital market, such as project funds, land and building funds, and the like, this official in charge of the banking network said: We are looking to change the deposit regime in the bank that operates the housing sector. For example, a 15-year-old person must make a deposit in the youth housing deposit account and after 15 years receive a loan that has no effect on the market and cannot buy a house with it. Therefore, we have followed the method of selling meters through the capital market.

He pointed out that for professional housing leasing, a tripartite memorandum of understanding has been signed between the housing sector bank, the Ministry of Roads and Urban Development, and Tehran Municipality, so that based on the bank’s financing, the municipality will build 200,000 small rental units with financing of 200,000. million tomans with 10-year repayment.