Peru: US$40 Million Housing Project to Benefit 20 Thousand Families

(LIP-ir) — Peru’s President, Alan Garcia was present today at the foundation stone laying ceremony held in the province of Virú located in the region of La Libertad, marking the beginning of the Vivenda Nuevo Chao II – Techo Propio project.

Peru’s Housing and Construction Minister, Hernán Garrido-Lecca and the regional president of La Libertad, José Múrgia were also present at the ceremony, where Peru’s president stated that the country’s economic stability allowed for the an increased number of housing projects to be established all over Peru.

The project is to benefit 20 thousand families living in the area with the construction of over 4 thousand housing units in no longer than 60 months. Construction of the homes, which was proposed by the construction company Inmobiliari S.A., is to take place on a 80 hectare piece of land.

It was reported that 256 buildings would be built on 9 blocks worth of land as well as 4 thousand 96 apartments, 207 lots and 520 parking spaces. It is estimated that costs will surpass US$40 million.

The project will not only benefit the people who are to live there but will also benefit the Peruvians who will be provided jobs by working on the construction of the housing units.

It was reported that over 1,800 jobs would be provided throughout the 5 years that construction would be taking place.