Latest news with #HousingandUrbanDevelopmentCorporation
Jordan News
3 days ago
- Politics
- Jordan News
Prime Minister Announces Housing Projects and New Benefits for Teachers - Jordan News
Prime Minister Announces Housing Projects and New Benefits for Teachers During a visit to the Ministry of Education today, Prime Minister Dr. Jaafar Hassan emphasized the government's commitment to supporting teachers, describing them as 'the guardians of future generations.' اضافة اعلان Dr. Hassan stated that he had listened to various concerns raised by teachers during his provincial visits and affirmed that the Ministry of Education is the primary entity responsible for teachers' welfare. As part of this support, the Prime Minister instructed the allocation of land for teacher housing projects across the governorates through the Housing and Urban Development Corporation, with funding to be included in the 2026 national budget. He also addressed delays in disbursing emergency loans from the ministry's Social Security Fund, pledging to allocate the required funds to process all pending applications this year and expedite approvals. Additional announcements included: Enhanced long-term, low-interest financing options for teachers through the Social Security Fund. A review of the Teachers' Children's University Scholarship Program, with planned increases in both the scholarship value and the number of beneficiaries starting September. An increase in teacher representation in Jordan's official Hajj delegations, now including spouses. A nationwide school development plan involving: The construction of 85 new schools. The expansion of 35 small schools and the addition of new classrooms. Opening 7 schools at the start of the next academic year and 11 more by the second semester, under a corporate social responsibility (CSR) initiative with the private sector. Dr. Hassan also underscored the importance of instilling national identity in schools, insisting on the mandatory morning assembly, raising the Jordanian flag, and reciting the royal anthem in all schools. Regarding the upcoming Tawjihi (General Secondary Education Certificate) exams, he stressed the need to ensure a suitable and supportive environment for students, adding that Jordan's education system must focus on developing competencies, not just issuing diplomas. He concluded: 'There is no real meaning or future for national progress without a modern, quality education system.'
Mint
07-05-2025
- Business
- Mint
HUDCO Q4 Results: PAT rises 4% to ₹728 crore YoY, NBFC declares final dividend of ₹1.05 per equity share
HUDCO Q4 Results: Housing and Urban Development Corporation (HUDCO) posted a net profit of ₹ 727.74 crore for the fourth quarter of FY25, up 4% year-on-year (Y-o-Y). The Non-Banking Financial Company-Infrastructure Finance Company (NBFC-IFC) also reported a Y-o-Y increase of 37.8% in revenue from operations during the quarter, with revenue at ₹ 2,844.99 crore. The lender's Net Interest Income (NII), which serves as its core income, rose by 26% to ₹ 962 crore, compared to ₹ 761 crore reported in the same quarter last year. The HUDCO board has proposed a final dividend of ₹ 1.05 for each equity share with a face value of ₹ 10 for the financial year 2024-25. This recommendation will require the consent of shareholders during the upcoming Annual General Meeting (AGM), as stated by the company in a filing to the exchange. HUDCO's Assets Under Management (AUM) increased by 35%, surpassing its target of over 30%. The net interest margin (NIM) was recorded at 3.22%, slightly exceeding the forecasted figure of 3.2%. The company also experienced an enhancement in asset quality, with Gross Non-Performing Assets (NPA) falling to 1.67% from 2.71%, and Net NPA decreasing to 0.25% from 0.36%. On Tuesday, HUDCO announced its intention to raise up to ₹ 2,190 crore through the issuance of debentures. The company stated that its 'Bond Allotment Committee' has authorized the issuance of unsecured, taxable, redeemable, non-convertible, and non-cumulative NCDs (non-convertible debentures) with a face value of ₹ 1,00,000 each, totaling up to ₹ 2,190 crore through private placement. These bonds will be redeemable at par at the conclusion of the fifth year, with interest payments made annually at a coupon rate of 6.9%. HUDCO specializes in financing housing and infrastructure projects. HUDCO share price today was trading nearly 2% down following Q4 results, the stock touched an intraday high of ₹ 223.45 apiece on the BSE, and an intraday low of ₹ 208 per share. Anshul Jain, Head of Research at Lakshmishree Investments said that HUDCO share price is forming a 72-day-long cup and handle pattern on the daily chart, with the cup completed and the handle currently developing. However, the absence of institutional volumes during both the base formation and handle development raises concerns for bulls. The structure remains technically bullish, but a breakout above ₹ 235 will only be considered reliable if supported by strong volume. A high-volume breakout above ₹ 235 can lead to an extended move toward ₹ 258.
Business Upturn
06-05-2025
- Business
- Business Upturn
HUDCO raises Rs 2,190 crore via private placement of NCDs
By Aditya Bhagchandani Published on May 6, 2025, 12:38 IST Housing and Urban Development Corporation (HUDCO), a Navratna CPSE under the Government of India, has successfully raised Rs 2,190 crore through a private placement of unsecured, taxable, redeemable, non-convertible, non-cumulative debentures (NCDs). The bond allotment committee approved the issuance during its meeting on May 6, 2025. The issue consists of a base size of Rs 500 crore and a green shoe option of Rs 1,680 crore, totaling Rs 2,190 crore. These NCDs carry an annual coupon rate of 6.90% and will mature in five years. Interest payments will be made annually on dates ranging from May 8, 2026, to May 8, 2030. The NCDs are proposed to be listed on the BSE. The instruments are unsecured and do not carry any special rights or privileges. HUDCO has clarified that there have been no delays in prior payments, nor any regulatory comments or concerns raised in relation to such instruments. This issuance is part of HUDCO's broader strategy to fund its developmental financing operations across India, supporting the government's vision of 'Viksit Bharat.' Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Debenture investments are subject to credit, market, and regulatory risks. Always consult with a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Zawya
12-03-2025
- Business
- Zawya
Jordan: Cabinet approves affordable housing project to address population pressure
AMMAN: The Cabinet, during a session chaired by Prime Minister Jafar Hassan on Tuesday approved a project to develop residential land in high-density areas facing service challenges to provide state-owned land with fully developed infrastructure, improve public services and offer affordable housing solutions. The Housing and Urban Development Corporation (HUDC) will oversee the project after registering the land in its name. The first phase will cover selected areas in Zarqa, Karak, and Maan, with plans for future expansion, according to the Jordan News Agency, Petra. Under the plan, one-dunum plots will be sold at a 50 per cent discount to their administrative value, while larger plots will be priced at full administrative value. To ease the financial burden, the government will offer interest-free instalment plans with a repayment period of up to 10 years. The initiative is expected to stimulate economic growth and create jobs, particularly in construction, infrastructure, and services. It aligns with the Kingdom's Economic Modernisation Vision, aiming to enhance living standards and boost key sectors. The Cabinet also approved the 2025 buildings and tax draft law, which seeks to modernise and automate property tax procedures, enhancing efficiency in valuation, collection, and dispute resolution. The draft law aims to ensure fairness in tax assessments by factoring in property type (residential, industrial, commercial, or agricultural), market value, and actual land use. Taxpayers will benefit from deductions for depreciation, disuse, and land utilisation levels rather than full market value taxation. Additionally, an incentive programme will grant increased exemptions to those who pay their taxes within the first three months of the year. The reforms also promote green building construction, heritage site preservation and industrial and renewable energy development on vacant land. In the judicial sector, the Council of Ministers approved amendments to the Law on the Establishment of Regular Courts, expanding the jurisdiction of the Economic Chamber to cover all first-instance courts beyond Amman, aligning with the Justice Sector Strategic Plan 2022-2026 to improve judicial efficiency. The Cabinet also approved a regulatory framework for electric vehicle (EV) charging infrastructure, a key step in Jordan's transition to clean energy. The framework supports the expansion of EV charging stations across the Kingdom, with companies assessing demand and ensuring system readiness. The Jordan Standards and Metrology Organisation (JSMO) will set quality standards, while the Energy and Minerals Regulatory Commission will oversee electricity connections to charging stations. To enhance agro-industrial capacity, the Cabinet approved the Ministry of Agriculture's lease of the International Diamonds Industrial Zone in the Jordan Valley for food processing factories. This is part of a broader strategy to establish an agro-industrial zone promoting food security and sustainability. Additionally, the Cabinet allocated land in Aqaba for two new agricultural projects: a 6,337-dunum date palm farm and a 1,000-dunum high-value crops project. Both projects, expected to be completed within three years, aim to create jobs and support local agriculture. In water infrastructure, the Cabinet approved a $7.5 million grant from Korea to rehabilitate water networks in Jerash, improving supply sustainability and promoting water conservation. The Council of Minister also approved electricity provision for the Partners for Investment Hotel in Wadi Musa, Maan, supporting the tourism sector, sustainability, and local employment. Additionally, Jordan's Digital Inclusion Policy for 2025 was approved to bridge the digital divide, enhance access to technology and support SMEs in the digital economy. On the international front, the Cabinet endorsed revisions to the Investment Protection and Promotion Agreement with Saudi Arabia, aligning investment standards with international practices and encouraging cross-border investment. During the session, the Minister of Finance briefed the Council of Ministers on Jordan's credit rating, recently reaffirmed by Standard & Poor's with a stable outlook. The minister highlighted that the rating will attract foreign investment, boost investor confidence and improve Jordan's access to financing at favourable rates. The Cabinet also approved the retirement of Director General of the Social Security Corporation Mohammad Tarawneh upon reaching the statutory retirement age. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
11-03-2025
- Business
- Jordan Times
Cabinet approves affordable housing project to address population pressure
New tax law to boost fairness, efficiency in property valuation Gov't greenlights nationwide EV charging network to drive green transition AMMAN — The Cabinet, during a session chaired by Prime Minister Jafar Hassan on Tuesday approved a project to develop residential land in high-density areas facing service challenges to provide state-owned land with fully developed infrastructure, improve public services and offer affordable housing solutions. The Housing and Urban Development Corporation (HUDC) will oversee the project after registering the land in its name. The first phase will cover selected areas in Zarqa, Karak, and Maan, with plans for future expansion, according to the Jordan News Agency, Petra. Under the plan, one-dunum plots will be sold at a 50 per cent discount to their administrative value, while larger plots will be priced at full administrative value. To ease the financial burden, the government will offer interest-free instalment plans with a repayment period of up to 10 years. The initiative is expected to stimulate economic growth and create jobs, particularly in construction, infrastructure, and services. It aligns with the Kingdom's Economic Modernisation Vision, aiming to enhance living standards and boost key sectors. The Cabinet also approved the 2025 buildings and tax draft law, which seeks to modernise and automate property tax procedures, enhancing efficiency in valuation, collection, and dispute resolution. The draft law aims to ensure fairness in tax assessments by factoring in property type (residential, industrial, commercial, or agricultural), market value, and actual land use. Taxpayers will benefit from deductions for depreciation, disuse, and land utilisation levels rather than full market value taxation. Additionally, an incentive programme will grant increased exemptions to those who pay their taxes within the first three months of the year. The reforms also promote green building construction, heritage site preservation and industrial and renewable energy development on vacant land. In the judicial sector, the Council of Ministers approved amendments to the Law on the Establishment of Regular Courts, expanding the jurisdiction of the Economic Chamber to cover all first-instance courts beyond Amman, aligning with the Justice Sector Strategic Plan 2022-2026 to improve judicial efficiency. The Cabinet also approved a regulatory framework for electric vehicle (EV) charging infrastructure, a key step in Jordan's transition to clean energy. The framework supports the expansion of EV charging stations across the Kingdom, with companies assessing demand and ensuring system readiness. The Jordan Standards and Metrology Organisation (JSMO) will set quality standards, while the Energy and Minerals Regulatory Commission will oversee electricity connections to charging stations. To enhance agro-industrial capacity, the Cabinet approved the Ministry of Agriculture's lease of the International Diamonds Industrial Zone in the Jordan Valley for food processing factories. This is part of a broader strategy to establish an agro-industrial zone promoting food security and sustainability. Additionally, the Cabinet allocated land in Aqaba for two new agricultural projects: a 6,337-dunum date palm farm and a 1,000-dunum high-value crops project. Both projects, expected to be completed within three years, aim to create jobs and support local agriculture. In water infrastructure, the Cabinet approved a $7.5 million grant from Korea to rehabilitate water networks in Jerash, improving supply sustainability and promoting water conservation. The Council of Minister also approved electricity provision for the Partners for Investment Hotel in Wadi Musa, Maan, supporting the tourism sector, sustainability, and local employment. Additionally, Jordan's Digital Inclusion Policy for 2025 was approved to bridge the digital divide, enhance access to technology and support SMEs in the digital economy. On the international front, the Cabinet endorsed revisions to the Investment Protection and Promotion Agreement with Saudi Arabia, aligning investment standards with international practices and encouraging cross-border investment. During the session, the Minister of Finance briefed the Council of Ministers on Jordan's credit rating, recently reaffirmed by Standard & Poor's with a stable outlook. The minister highlighted that the rating will attract foreign investment, boost investor confidence and improve Jordan's access to financing at favourable rates. The Cabinet also approved the retirement of Director General of the Social Security Corporation Mohammad Tarawneh upon reaching the statutory retirement age.
