Housing Ministry Asks for $3.5bn Each Year

By John Lee.

Iraq's Minister of Housing and Reconstruction, Mohamed Sahib al-Daraji [Mohammed Al-Deraji] (pictured), has asked the government to allocate $3.5 billion every year to alleviate housing shortages in the country, reports Azzaman.

He said Iraq needed 60,000 housing units every year as well as a massive housing reconstruction program for the building of two million flats in the years to 2015.

In total, the minister said $14 billion will be needed between 2013 and 2015 to ease the crisis, adding that his ministry could not solve the problem on its own, and urging Iraqi provinces to start their own housing projects.

Every five years, Iraq needs one million new homes, a target which the country could not achieve in the past ten years, he said.

(Source: Azzaman)

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