• Samba 65 00% 56.65%
    Joga2002 635.254 50% 63.63%
    Bra52 69 23.145% -63.25%
    Joga2002 635.254 50% 63.63%
  • HangSang20 370 400% -20%
    NasDaq4 33 00% 36%
    S&P5002 60 50% 10%
    HangSang20 370 400% -20%
    Dow17 56.23 41.89% -2.635%

EghtesadOnline: Real-estate development by individuals who don’t have the expertise needed in the field has reduced the industry to jerry-building, the managing director of Maskan Investment Group, the parent company of Bank Maskan, Rouzbeh Zahiri Hashemi, said.

“Iran’s construction sector has faced the influx of inefficient and unprofessional investors for years now. The absence of an integrated regulation regarding people who are both investors and builders has led to the decline in construction quality and age, as well as the rapid deterioration of residential properties,” he was quoted as saying by Hibna. 

Asked about the reasons behind the average lifespan of residential buildings in Iran being shorter than that of the global average (such that the average lifespan of an apartment is 50 years in the world compared with 25-30 years in Iran), he said, “That is chiefly because the job is handled by unprofessional people rather than by efficient, certified builders.”

“Is it possible for ordinary people to manufacture vehicles? Can they secure permits easily? Certainly not! But how about the same people building a house? They would face no legal hurdles. There isn’t a specific, integrated regulating system in place to supervise housing construction like that of manufacturing cars.” 

Underlining the importance of separating investment sector from housing production, Hashemi said, “The point is those who carry out construction work are themselves investors. Those who don’t have the expertise are building homes across the country. They don’t have the perspective of a professional engineer. They’re jerry builders. The quality of building starts from factories that make construction materials to the time the plan is being executed by professionals. The lack of safety and technical standards in all phases of construction projects leads to the premature deterioration of buildings, i.e., before 50 years.”


Iran Maskan Investment Group Buildings Real-Estate