New 'Home for Everyone' Projects

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

Friday, September 3, 2010

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.

"President Funes explained that Fonavipo will be leading the works in which around $80 million will be invested, creating 45,000 new direct and indirect jobs in the construction sector, the one most seriously affected by the economic crisis," reports Elmundo.com.sv.

More on this topic

$232 Million in Social Housing

July 2009

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

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.

El Salvador: Changes to "Housing for All" Tender

March 2011

Changes to the tender process of program “Housing for All” ("Casas para Todos") eased up on requirements for construction companies.

Current legislation requires the contractor to have developed at least three similar projects to the one which is being applied for. With the new changes construction companies can apply without having been specifically devoted to urban development projects.

“Housing for Everyone" Program Receives More Funding

July 2010

El Salvador’s government signs agreements with commercial banks to obtain short-term finance for the social housing project.

Tomás Chévez, president of the Social Home Fund (FSV), commented that the agreements had been signed with Banco Agrícola and HSBC.

Without revealing the size of the loans, he added that the funds from Banco Agrícola will go towards five housing projects while the HSBC loan will fund two.

El Salvador Awards $6 Million in Home Building Contracts

April 2010

FONAVIPO, the National Social Housing Fund, awarded 6 of 10 projects to build homes in urban development “Nuevo Belén”.

Marco Fortín, president of the institution, explained that works are poised to start on May and should be ready in two months. “This project could generate some 4.500 jobs, between direct and indirect ones”, added Fortín.

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