Housing projects for low-income households on the anvil — Kisbi

AMMAN — Minister of Public Works and Housing Yahya Kisbi on Monday announced that the Housing and Urban Development Corporation has proposed a number of projects within the Kingdom's various governorates to enable medium- and low-income households to obtain adequate housing, the Jordan News Agency, Petra, reported.

Due to the repercussions caused by the spread of the coronavirus, the Cabinet decided to reduce the value of the first payment from 15 to 5 per cent, increasing the repayment period to 10 years instead of seven, and reducing the interest or its equivalent value of the Islamic financial system to 4 per cent in the Amman and 3.5 per cent in the rest of the governorates, he said.

He indicated that the proposed projects will be implemented in Mafraq, Karak, Amman Maan and Irbid.

He explained that, after the implementation of the Cabinet’s decision regarding the new financial facilities, the installments ranged from JD18 to JD162 per month, noting that the land areas range from 234 to 729 square metres in various projects.

Kisbi stressed that all projects are provided with water and electricity services.

The housing applications can be submitted through www.Huda.gov.jo, Petra reported.