S /. Mivivienda 300 million earmark to fund loan program to builders | Market & Construction: Investment and news in the construction sector

S /. Mivivienda 300 million earmark to fund loan program for construction companies

Articles | Darcy Govea | June 3, 2009 at 1:33 pm

The president, Jesus Vidalón Mivivienda Fund, said it would earmark 300 million new soles for the delivery of a new loan product that is to give financial system resources to be channeled to the construction company and used in the urban allotments building projects.

He explained that completing the project design to finance urban allotments, through the financial system, and should be ready in about two weeks.

He added that the Fund is interested in supporting Mivivienda construction companies in financing the first phase of their projects that is urban empowerment, ie providing water, sewage, electricity, tracks and paths with building projects.

"Sometimes even for clarification of the pre-home sales slows the theme of urban allotments, then an incentive (for companies) may be that this be done quickly and with a short-term financing," said the agency Andina.

He avoided specifying the scope of funding to be awarded to construction companies because it is still under evaluation and then should be formalized through a legal device.

He said that through March of this year Mivivienda Fund has a 30 percent mortgage credit system, with a 36.943 total outstanding loans.

But in terms of amounts Mivivienda Fund appropriations account for 11.75 percent of the total awarded by the financial system, which is constantly increasing.

He stated that the balances of mortgage loans Mivivienda Fund amounting to 455,813.96 million nuevos soles at 31 March 2009.

Vidalón indicated that the 15 May the housing available to be purchased with credit Mivivienda My Home and amounted to 10.970 Lima homes for a total of 136 building projects, of which 790 million were invested $ 733,819.

While provinces offering this type of housing is of 1.642 units in 59 projects including 107 million 625 thousand U.S. dollars.

The supply of homes available Techo Propio program units is 2.599 and 9.023 in Lima houses in the provinces.

The supply of homes owned Roof falls in three real estate projects in Lima (32 million 875 thousand U.S. dollars) and 38 provinces (94 million $ 741,500).