Iraq's Kurdistan Regional Government (KRG) has approved a plan to build affordable housing complexes to add an additional 125,000 residential units by 2035.
Under the program, around 5,000 homes are expected to be built every year over the next 25 years, said Zana Mostapha Ozeeri, general director of technical, planning and follow-up affairs at the KRG Ministry of Housing and Construction.
Ozeeri told Zawya Projects that an annual allocation of IQD 250 billion (USD 215 million) had been earmarked for the housing fund, which targets low-income citizens.
"There are also 10,465 additional residential units that are currently under construction," he said.
"There is a lot of demand for housing units in the region, with the rising number of people moving here from central and southern Iraq due to the security situation."
Iraq's former Minister of Housing and Reconstruction Muhammad Saheb Al Darraji had been quoted by local media as saying that the ministry has set aside USD 1 billion to build 600,000 residential units across the country until 2017 to ease a housing crisis.
Zawya Projects News 2014
