Guarantee for Construction of Social Interest Housing

The National Congress of Honduras approved a trust contract for the construction of 10,000 social interest housing units.

Friday, February 14, 2020

The housing solution will be developed under a macro urbanization scheme that includes 18 vertical-multifamily housing macro lots in 236 buildings, reported the Legislative.

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From the National Congress' statement:

February 13th, 2020. The National Congress approved, with the support of President Mauricio Oliva, an important trust contract for the construction of the social housing "Residencias Morazán" with which 10 thousand houses for 50 thousand people will be built, the largest in Central America.

"Residencias Morazán" will be facilitated with the recent approval, by the National Congress, of the Housing Law, which creates different mechanisms so that Hondurans can access new social and medium sized housing.

It will be the largest housing solution in the Central American region that will benefit more than 10,000 families, under a macro urbanization scheme that includes 18 vertical-multifamily housing macro lots in 236 buildings, urban facilities and buildings to meet the primary needs of the inhabitants.

The project will be developed in a 209-block lot, located in the Central District, just a few minutes from the city.

The direct beneficiaries of the project will be those affiliated with the welfare systems, teachers, police, prosecutors and other justice operators.

Also, families with one, two or more minimum wages, which is enhanced with the recent passage of the Housing Act. The project facilitates access to credit, preferential rates and State subsidies.

For the project, investment incentives will be generated in the construction sector with financial, tax and legal facilities, which will energize the economy and the generation of up to 40 thousand direct jobs and up to 80 thousand indirect jobs, taking the qualified and unqualified labor.

The trust has as trustors the Secretariat of the Presidency and the Social Fund for Housing (FOSOVI), with the purpose of structuring the project, declared of national interest and priority by Executive Decree No. PCM-040-2019, as well as the administration of the resources or flows derived from it.

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