TEHRAN – Iran has mobilized 220 trillion rials (around $440 million) through bank loans and applicant contributions in the Previous Iranian calendar year (ended on March 20, 2025) to finance the construction of housing units in new towns under the National Housing Movement scheme, a senior official said.

According to the New Towns Development Company, Mehdi Mirjavadi, Director General of Housing Development Affairs, said the funding supports ongoing work on approximately 140,000 active housing units in new towns across the country, 91,000 of which have already received bank financing.

Speaking in a virtual meeting with subsidiary companies, Mirjavadi stated that efforts are underway to secure additional 65-billion-rial ($130,000) loans for remaining units, in accordance with the country’s housing leap legislation.

He also noted that, in addition to the 220 trillion rials raised this year, a cumulative total of 310 trillion rials (over $620 million) has been contributed by applicants since the program’s launch, with 130 trillion rials of that amount collected during the previous year.

Mirjavadi emphasized the importance of maintaining transparent communication with applicants throughout the construction process, suggesting this could include text message updates and in-person project site visits. “Transparency in financial planning and implementation is critical,” he said.

He urged applicants to make timely payments to prevent delays, noting that nearly 20,000 housing units are nearing completion and will be gradually handed over once essential infrastructure is in place.

Iran's National Housing Movement is a pivotal initiative by the 13th government, aiming to address the housing needs of the nation's growing population by constructing four million residential units over four years. This ambitious plan seeks to provide affordable housing solutions, particularly for low-income citizens, with 3.2 million units designated for urban areas and 800,000 for rural regions.

As of July 2024, the Minister of Transport and Urban Development announced that 2.6 million units are currently under construction across the country.

To support this extensive development, Bank Maskan has financed the construction of 378,880 housing units, signing contracts worth over 17.5 quadrillion rials (approximately $3.5 billion) by March 2025.

Land allocation has been a critical component of the movement's progress. In the first five months of the current Iranian calendar year (March 20-August 21), 2,333 hectares were allocated to National Housing Movement projects through approvals by the Urban Development and Architecture Supreme Council.

Additionally, the Islamic Revolution Housing Foundation (IRHF) is constructing over 730,000 units nationwide, with more than 250,000 units already completed and handed over to their new owners.

The government's commitment to this initiative is further underscored by President Masoud Pezeshkian’s directive to relevant organizations to prioritize the National Housing Movement, emphasizing its significance in meeting the housing needs of the Iranian populace.

This concerted effort reflects a comprehensive strategy to enhance living standards and ensure equitable access to housing across Iran.

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