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FINANCIAL NEWS
Oman completes 2,000 low cost housing units
15 Dec 2011
(MENAFN) Oman’s undersecretary of the Ministry of Housing, Eng. Salih bin Mohammed Al Farsi, said that in 2011, the ministry finished constructing 2,000 low-cost housing units with a cost of USD103.5 million in order to provide housing for those who couldn’t afford it, reported Times of Oman.
Al Farsi added that also during the current year, the government extended loans without interest ranging to a total of USD18 million, taking in consideration the demand of housing by low income groups.
On the other hand, he also said that Oman’s vibrant property sector has created thousands of residential units in the Sultanate.
It is worth noting that an additional 2,000 low-cost housing, will be delivered next year, so that those who live at the bottom of the pyramid will have the opportunity to own a house, according to Al Farsi.
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