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Last update - 15:43 13/04/2008 Construction of 30,000 homes planned in new W. Bank suburbs By The Associated Press Tags: Housing, West Bank  The Palestinian Investment Fund (PIF) says it plans to build 30,000 affordable apartments in the West Bank and Gaza to ease a growing housing crunch. An official in the fund said that the project will cost more than $2 billion and that private investors will be involved. "It is expected to help solve the housing problem in the Palestinian territories," Mohammad Mustafa, CEO of the independent fund, told Reuters. Advertisement Mustafa, a former World Bank official, said Palestinian President Mahmoud Abbas and international peace envoy Tony Blair would attend a ceremony on Monday establishing the $1 billion al-Amal Mortgage Finance Company to support the project. He said the U.S. Overseas Private Investment Corporation, the World Bank's International Finance Corporation and Palestine Bank would sign a memorandum of understanding to set up the firm. "The company will offer affordable mortgages directly to low-income families to enable them to buy housing units," he said. Mustafa said the 30,000 units to be built next year will serve as a pilot project, estimating it would cost more than $3 billion to construct 10 self-sufficient communities in the West Bank and Gaza Strip. A study carried out by the fund said Palestinians would require an additional 470,000 units over the next decade. The PIF plans further projects, raising competition concerns among private sector companies involved in home construction. "The PIF is concentrating on housing projects as it saw the need for housing projects and tries through the mortgage company to help solve the financing problem of low-income families," Mustafa said. "We are focusing on strategic projects that help create jobs and help cement people's presence on their land," he said. More than 2.5 million Palestinians live in the West Bank on occupied land divided by Jewish settlements. Another 1.5 million reside in the Gaza Strip, territory Hamas Islamists seized from Abbas's Fatah faction in June. Investment in housing is seen as one of the more attractive business opportunities in the West Bank. The housing shortage is considerable, and construction is less dependent on Israel easing movement restrictions than other branches of the economy. Related articles: Security forces clear two West Bank outposts, plan for more IDF completes removal of 50 roadblocks across the W. Bank IDF razes 10 more roadblocks in bid to ease West Bank mobility Bookmark to del.icio.us   Security.com Shin Bet is reaching out to English and Arabic worlds with new web sites. Obama's blunder As Penn. primary approaches, Clinton has latched on to 'values' remarks by Obama.   1.   IT IS ABOUT TIME!!! 20:26  |  Doc Holliday 12/04/08   2.   Whose Land? Scratch the surface! 20:39  |  Steve 12/04/08   3.   Israel in the 19C before Zionist restoration 20:41  |  Steve 12/04/08   4.   US Naval Expedition to 19C Palestine 20:44  |  Steve 12/04/08   5.   CONSTRUCTION of 30,000 homes planned in new W.Bank suburbs 21:00  |  YH 12/04/08   6.   If this won`t compromise final status talks 21:41  |  Burned Liberal 12/04/08   7.   The world`s largest charity 21:41  |  Sam 12/04/08   8.   #2-4; Steve excellent references 22:24  |  Doc Holliday 12/04/08   9.   A good thing......hopefully 22:27  |  Dave from Chicago 12/04/08   10.   Construction of 30,000 homes planned in new W. Bank suburbs 22:38  |  martin list, m.d. 12/04/08   11.   Burned Liberal..sorry you are wrong 22:38  |  Meir Gush Etzion 12/04/08   12.   To Steve # 2 22:52  |  martin list, m.d. 12/04/08   13.   Yes, good old Marc Twain also said that there are 23:09  |  Andreas 12/04/08   14.   What about homes for 10,000 Gaza JEWISH REFUGEES 00:25  |  Linda Rivera 13/04/08   15.   Burned Liberal - The difference is that they are building in 00:30  |  MAN ON A TREE 13/04/08   16.   Israelis are cowards & land thieves. 00:35  |  POP 13/04/08   17.   This is fantastic news... 01:17  |  Kiwi girl 13/04/08   18.   THOUSANDS of Jews Maimed & MURDERED for WICKED LIE of Occupation 03:03  |  Linda Rivera 13/04/08   19.   Jew-HATERS WICKEDLY Ignore Justice for One Million JEWISH REFUGEE 03:04  |  Linda Rivera 13/04/08   20.   Jew-HATERS DECEIVE for Expansionist Islam. Already ARAB Pal State 03:06  |  Linda Rivera 13/04/08   21.   Sam the Israeli`s are owners of the title 03:16  |  kiwi girl 13/04/08   22.   Linda what a screwed up lady you are... 03:27  |  Kiwi girl 13/04/08   23.   Kiwi monster: Name calling won`t change historical facts 03:55  |  Steve 13/04/08   24.   Are separate rooms available for the 4 wives in those houses? 04:32  |  Genuine Tosefta 13/04/08   25.   Just another way to scam the international community 04:34  |  Genuine Tosefta 13/04/08   26.   Arabs are cowards & land thieves 04:40  |  Genuine Tosefta 13/04/08   27.   Hopefully the corrupt wont siphon off supplies for weapons 04:47  |  Jon 13/04/08   28.   Linda - Funny that you want to stop religious hate 05:04  |  Hiindu 13/04/08   29.   Treatment of Jews in Arab lands-Linda writes the truth. 06:02  |  Steve 13/04/08   30.   Monster Steve?...I`m not the one living on 07:40  |  Kiwi girl 13/04/08   31.   Monsterous vilification 09:06  |  Steve 13/04/08   32.   #30:kiwi girl, and her false dribble 16:05  |  Doc Holliday 13/04/08   33.   # 2 steve 18:17  |  Axel 13/04/08   34.   # 3 steve 18:21  |  Axel 13/04/08   35.   The article is an unwelcome reminder 18:23  |  Axel 13/04/08   36.   # 26 genuine tosefta 18:43  |  Axel 13/04/08   37.   The `canaanites` are still there 19:01  |  hollingsworth 13/04/08   38.   Myths vs Facts, (Axel 33) 19:23  |  Steve 13/04/08   39.   # 38 steve 19:39  |  Axel 13/04/08   40.   Axel #36, vacate the lands you invaded 21:13  |  Genuine Tosefta 13/04/08   41.   How many of these will actually be built? Wanna bet? 21:35  |  Genuine Tosefta 13/04/08   42.   # 40 genuine tosefta 23:00  |  Axel 13/04/08   43.   #37:hollingworth what the heck are you talking about? 00:01  |  Doc Holliday 14/04/08   44.   Historical Demography 00:43  |  Steve 14/04/08   45.   Axel`s twisted mind ended up confirming Jewish land ownership 00:47  |  Genuine Tosefta 14/04/08   46.   Doc, I`m saying... 21:42  |  hollingsworth 14/04/08   47.   The rest of the story for Linda Rivera 22:32  |  hollingsworth 14/04/08   48.   Steve uses the same tired old argument 00:56  |  hollingsworth 15/04/08

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