The Peruvian government's national housing project, Mivivienda, will sell 2,679 houses built by Peru's defunct state-owned construction company Enace (Empresa Nacional de Edificaciones) through Mivivienda's Mortgage Fund. The green light was given after the Peruvian Congress' Economic Commission voted to approve the scheme. Congress' approval was considered necessary because Mivivienda's mandate is only to finance housing projects in the private sector, while Enace is state-owned. Investors in Peru's National Housing Fund, Fonavi, may qualify to buy the houses if they have invested for three years consecutively, or a combined total of 60 months, congressman Luis Chang Ching said, adding that the government plans to make 12,000 housing units available over the course of the year. Construction of the houses is 90% complete, according to the executive secretary of Mivivienda, Jose Bazo Febres. The houses are located in the departments of Lima, La Libertad, Piura, Huanuco, Arequipa, Moquegua, Puno and Tacna. Mivivienda will finance the construction of between 5,000 and 6,000 houses in 1999, Peru's housing & construction minister Antonio Paucar said in December last year, and some 50,000 units over the next few years.
- Telecommunications: China's ZTE announces 204% profit rise in Q1
- Information Technology: Roundup: GeneXus, Rdio, IBM Brasil
- Telecommunications: LTE investments seen accounting for 10% of LatAm mobile capex
- Telecommunications: Trilogy first foreign company to acquire capacity on Bolivia satel...
- Telecommunications: Feedback "positive" on Firefox mobile OS, says Mozilla exec
- Information Technology: Intel LatAm revenue growth "slightly under" par in Q1
- Insurance: Chilean stock exchange demutualization would hit competition, says Itaú exe...
- Insurance: Bachelet names special delegates for quake and fire reconstruction
- Insurance: Chilean tax reform "revolution" could hurt companies - expert
- Banking: Chile's finance committee expresses concerns over tax reform
- Metals - Regional
- Metals - Regional