January 23, 2020
Investment

President Piñera announces injection of US$475 million in housing and urban infrastructure to boost economic reactivation

President Piñera announces injection of US$475 million in housing and urban infrastructure to boost economic reactivation
The initiative will permit the construction of 10,000 dwellings, plus subsidies to give families access to a house, and will create jobs in the construction sector.

On Monday, President Sebastián Piñera announced an additional investment of US$475 million in housing and urban infrastructure in order to boost economic reactivation and also help to give 60,000 families access to a home of their own.

The plan involves the construction of 10,000 dwellings under the Social and Territorial Integration Program as well as incorporating 5,000 units for the Solidarity Fund for Housing Choice.

Thanks to this new injection of resources and the resources allocated to regular programs for this and the previous year, the construction of over 100,000 new homes will begin around Chile in 2020.

“We want the dreams of Chilean families to take wing, the dreams of a house of their own, a home, a new life, a new opportunity,” said President Piñera during a visit to the San Alberto de Cerrillos project on which he was accompanied by Housing Minister Cristián Monckeberg and Finance Minister Ignacio Briones.

The plan also envisages the injection of 100,000 million pesos for Participatory Paving programs, which will permit the renovation of 300 kilometers of streets and passages and the improvement of 214 kilometers of sidewalks.

“This social integration program we are visiting is part of a new vision of a society with more integration, more unity, more sense of community,” said President Piñera.

The initiative will also have a positive impact on job creation. In 2019, projects implemented by the Housing and Urban Planning Ministry (MINVIU) created 477,960 jobs.

“The economic reactivation plan is to protect the jobs of Chileans, to create more jobs for our fellow citizens, so that our economy does not come to a stop but continues to grow strongly, and also to help SMEs,” added President Piñera.

The injection of additional resources forms part of the Job Protection and Economic Recovery Plan for US$5,500 million announced by the President last month, which seeks to boost micro, small and mid-sized enterprises, create new jobs, help the most vulnerable families and strengthen public investment.

The President toured the San Alberto de Cerrillos project, located in the municipal district’s Bicentennial Park, which comprises 813 homes. It envisages the construction of two condominiums with six buildings, three with four floors and three with eight floors.