Speculation in Oil versus Real Estate

IranGate
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Speculation in Oil versus Real Estate

Conflict between Oil and Housing

The representative of Hamedan in the parliament has announced that a contract has been signed with a Chinese company to build 1.2 million housing units over four years. This company will receive Iranian oil in return for constructing the housing units.

Fars News Agency, quoting Ahmad Hossein Fallahi, has written that the cost of building each square meter of housing in the market ranges from 10 to 12 million tomans, including the minimum costs in small cities. Without mentioning the Chinese company, Fallahi added that this foreign company has been entrusted with the construction of housing units for an equivalent amount of 4 million and 700 thousand tomans per square meter. According to Fallahi, local materials and labor will be utilized in this project.

Earlier, Ebrahim Raisi, the head of the thirteenth government, had promised to build 4 million housing units. Later, Mohammad Mokhber, the first deputy of Ebrahim Raisi, stated that the government is not responsible for building housing units and should assist the people in the design, provision of facilities, and land for housing construction.

Persian

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