Inter-Mac director, Javier Arguello, highlighted the importance of the project for the Honduran economy, calling it 'encouraging'.
Lobo Sosa, president of Honduras, was present at the signing of the agreement and "thanked national and internation investors, as well as the US government, for continuing to believe in the country. 'Our people need homes and we must provide them,' he said and asked all regional mayors to open their doors and facilitate this kind of investment," reports Laprensa.hn.
The housing deficit is on the rise and the country currently needs to build 500,000 new homes.
During the third National Housing Forum held in Managua, both the government and the private sector agreed that what is needed is more social housing projects.
The president of Nicaragua's Chamber of Developers (Cadur), Ingrid Herrera, insisted on the need to reduce bureaucracy: "we need institutions to adapt to the "Housing Law" and to enable permits to be obtained within 90 days, as established in the law," reports Elnuevodiario.com.ni.
U.S. consortium Inter-Mac will develop 35 low cost residential projects, each with 100 units.
Spokesperson Javier Arguello remarked that 400 units are already available for purchase. He added that the projects are located in the area known as “Valle de Sula” (Sula Valley), and that they are considering building another in Tegucigalpa.
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