Babylon Investment Commission proposes initiative to solve housing crisis in province .............Date 2020-09-28

Babylon Investment Commission announced, on Wednesday, the launch of an initiative to solve the housing crisis in the province. " The initiative is based on the establishment of residential investment cities, in which the monthly installment of the housing unit is taken into account to be up to 250 thousand dinars to enable low-income classes to own them," said chairman of commission, Muhammad Zukam, in an interview with Alsumaria News. He added, "This initiative requires government agencies that own land to provide it, and financial institutions provide facilities to lend to investors and prolong the borrowing period, or for those entities to be the investors, as well as the careful selection of implementing investors." " Babylon Investment commission has approached National Investment Commission to present the initiative to the central government, and Babylon Governorate has been approached on the same issue," Zakum emphasized.