$232 Million in Social Housing

Salvadoran home builders welcomed President Funes's announcement, that turns into reality the long awaited anti crisis plan for the sector.

Friday, July 17, 2009

Funded by the government and the private sector, the global housing project aims to build 25.000 homes, generating over 100.000 direct and indirect jobs.

The first stage of the plan will see investment for $165 million, for the construction of 5.800 homes. For this the Multi Sector Investment Bank has a Guarantee Fund, making it easier for private banks to lend to home builders and developers.

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New 'Home for Everyone' Projects

September 2010

El Salvador's 'Casa para Todos' scheme supported by president Mauricio Funes will be relaunched on 9 September with five new projects.

With financing coming from the People's Housing Fund (Fonavipo) and the Social Housing Fund (FSV) the five new projects will provide 942 homes for which construction is expected to be completed by the end of 2011.

"Housing for Everyone" Program Starts in El Salvador

July 2009

The government plan "Housing for Everyone" ('Casa para Todos'), started transferring and dividing state terrains into lots, where 2.050 houses will be built.

1.500 homes will be built in the capital city and 550 in the east of the country. The location of an additional 150 is still to be determined, to achieve the target of 2.200 homes in 18 months.

$50 Million for Housing in El Salvador

June 2009

Commercial Banks have authorized short term loans to builders for the construction of 5000 homes.

In response to the ‘anti-crisis plan’ announced by President Mauricio Funes on Thursday June 18th, the Salvadoran Banking Association (Abansa) will be authorizing construction loans for $50 million.

El Salvador: Construction Stalled by Lack of Funding

March 2009

There are 19 housing projects which would generate about 2,400 houses in different market segments that are stagnant.

Ismael Nolasco, executive director of the Salvadoran Construction Industry Chamber (CASALCO) detailed in Elsalvador.com: "Eleven projects are already in the process of analysis in the Multisectoral Investment Bank (BMI), which is responsible for "banking" the projects, meaning that it looks for funding options.

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