$2bn Allocated to Affordable Housing Project

The Ministry of Construction and Housing announced on Thursday that it has begun an affordable housing project which has an allocation of $2 billion (2,300 billion IQD) from the 2012 budget.

Istabrak al-Shawq  [Istabraq Al-Shouk] (pictured), the Under Secretary of the Ministry, told AKnews that the project will be completed within four years and three construction models for the project were chosen.

“The main problems that hinder the implementation of residential projects is the lack of suitable land.” He continued: “The financial allocations for this year are less than what we have planned for.”

Reports and studies prepared by non-governmental organizations and international companies say it will take Iraq 20 years to end the housing crisis.

(Source: AKnews)

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