TEHRAN – Bank Maskan has financed the construction of 378,880 housing units under Iran’s National Housing Movement, signing contracts worth over 17.5 quadrillion rials ($3.5 billion) by March 2, 2025.

According to the Transport and Urban Development Ministry, a total of 472,378 housing units, organized into 87,984 projects, have been introduced to Bank Maskan by various entities, including the Ministry of Transport and Urban Development, the Housing Foundation, New Towns Development Company, the Execution of Imam Khomeini’s Order, National Housing Fund, Imam Hassan Headquarters, IRIB Organization, Iran Chamber of Cooperatives, Ministry of Education, Ministry of Agriculture, as well as private urban and rural developers.

 Private developers account for 28 percent of the total housing units, IRNA reported.

As of the mentioned date, Bank Maskan has disbursed 12.1 quadrillion rials ($2.42 billion) as partnership shares for housing projects, fulfilling over 65 percent of its commitments under the initiative.

By early March, 88,937 housing units financed by Bank Maskan have been completed and placed under installment sales, marking the highest performance among all banks involved in the scheme. The bank’s significant role in providing housing loans reflects its commitment to facilitating homeownership through dedicated and proactive efforts.

The National Housing Movement is one of the major policies of the government in the housing sector, and according to this policy, the construction of four million residential units is planned for four years.

It is one of the projects through which the government is trying to help low-income individuals in society become homeowners.

According to the plan, out of these four million residential units, 3.2 million units will be constructed in cities and 800,000 units in villages.

After the National Housing Action Plan (started in 2018), the National Housing Movement is the government’s second major program to provide affordable housing units for the low-income classes.

The operation for the construction of 209,212 residential units of the National Housing Movement began in February 2022.

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