Iran is in negotiations with 10 Asian and European countries for house construction projects across the country, according to an official with knowledge of the matter.
Head of Iran’s National Housing Fund Mohammadreza Esmaeili said that although Iran’s priority is to make use of domestic contractors for construction of houses, the country is also in talks with foreign companies and suppliers.
The Iranian banks are required to allocate 20% of their funds to the housing sector, he said, adding that some banks have been fined for failure to do so.
The official also said that an annual 200,000 billion rials ($395.4 million) coming from oil bartering is to be injected to the National Housing Fund.
The Iranian government has major plans for providing affordable houses to the low-income classes of the society under arrangements known as National Housing Project.