Decent Housing for Decent Living
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Inadequate Housing Plagues Murambatsvina Victims
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Living Space
Four Years On, No Adequate Housing
On this day, a year ago, a royal initiative was launched under the name “Decent Housing for Decent Living”. This initiative is meant to help citizens with low and limited income, by providing 120,000 housing units during a period of five years.
The Overseas Private Investment Corporation (OPIC) developed a financing agreement to provide three major Jordanian Banks with an amount of up to $250 million, to facilitate the funding of 25-year mortgages at low and affordable interest rates for those who will benefit from the housing initiative. Beneficiaries will not have to pay any down payments, and the monthly installments will not exceed one third of the beneficiary’s monthly salary.
The initiative will either provide affordable apartments for beneficiaries, give them free pieces of land as well as an amount of 5000 Jordanian Dinars to start building houses on the provided land, support citizens who would like to purchase houses other than the houses built especially for the initiative with an amount of 10000 Jordanian dinars, or give mortgages for those who have the land, but are unable to start the building process. Mortgages would go up to 20000 JDs, with a repay period of up to 20 years. Number of citizens to benefit from this initiative is estimated at 11000 citizens.
