A Tehran conference held yesterday, dubbed ‘investment in housing and urban development in Tehran’, hosted 1,250 local urban development and housing projects put up for tender to over 90 national firms and 30 international firms. In total, the housing and infrastructure projects are worth about $7.8 billion.
The conference aimed to attract not only tenders from the construction industry but also investment from Iranian and foreign credit institutes and banks. Organizers hope that by allowing foreign firms to put up tenders the conference, sanctioned by the Iranian Ministry of Housing and Urban Development, will also bring in new technologies to improve existing conditions.
Among the construction projects are more than 100 residential and commercial properties worth a total of $1.3 billion and eight railway lines valued at $5.7 billion, the Iranian news agency reported.
Aside from the housing aspects, other projects include the construction of highways, tunnels, bridges, hotels, and business centers. In the current year, there are presently housing, business, and administrative sector projects under construction, valued at $1.65 billion.
Firms from Australia, China, Denmark, Egypt, France, Germany, Italy, the Netherlands, Saudi Arabia, South Korea, Switzerland, Syria, the United Arab Emirates and Ukraine are taking part, IRNA said. — (Albawaba-MEBG)
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