NewsWhore
07-15-2011, 03:40 PM
Pensions Superintendent Joaquin Geronimo says that the approval of the Law for the Development of the Mortgage Market and Trust Funds opens the way for the government to begin construction of three housing developments of 200 units each at a cost of no more than RD$2 million per residence. He said the houses would go up in Villa Mella, San Luis and Manoguayabo, but did not mention the name of the contractors.
He said that once the pilot projects are completed, the plan is to build 20,000 to 25,000 dwellings using this scheme in two years.
He said that the projects are not yet defined, because the guidelines for the law still need to be drafted and passed by Congress.
By the end of this year, the Pension Funds are expected to reach RD$150 billion. He said the law authorizes using up to RD$30 billion for the construction of housing.
Diario Libre observes that of the 1.2 million employees who contribute to the pension fund, more than 60% do not qualify to benefit from the housing plan. Only those earning a minimum of RD$25,000 a month would qualify.
More... (http://www.dr1.com/index.html#4)
He said that once the pilot projects are completed, the plan is to build 20,000 to 25,000 dwellings using this scheme in two years.
He said that the projects are not yet defined, because the guidelines for the law still need to be drafted and passed by Congress.
By the end of this year, the Pension Funds are expected to reach RD$150 billion. He said the law authorizes using up to RD$30 billion for the construction of housing.
Diario Libre observes that of the 1.2 million employees who contribute to the pension fund, more than 60% do not qualify to benefit from the housing plan. Only those earning a minimum of RD$25,000 a month would qualify.
More... (http://www.dr1.com/index.html#4)