Tehran Building Construction Hits Record High, Donya Reports

June 19 (Bloomberg) -- Construction of residential housing units in Tehran increased by 53 percent to a record high in the last Iranian year, Donya-e-Eqtesad reported.

Some 229,000 residential units were built in the Iranian capital in the year ending on March 19, the Tehran-based newspaper reported. The last time the city’s housing market recorded such a boom was five years ago where the number of housing units reached an annual 183,000, the paper reported, without citing anyone.

Last year’s boom in construction will increase Tehran’s housing capacity by 10 percent, the report said.

To contact the reporter on this story: Ladane Nasseri in Dubai at lnasseri@bloomberg.net

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