His Majesty King Abdullah on Monday launched the Teachers Housing Project seeking to make it easier for the country's teachers to own their own homes.

During a visit to the Ministry of Education, the King also donated JD2 million to the ministry's housing and social security funds.

In addition, private and corporate donations to the two funds totalled JD8 million.

The project envisions the construction of 35,000 housing units around the country to be built on land donated by King Abdullah under a Royal Makruma. The target is to complete 5,000 units a year.

The 80-square-metre to 250-square-metre units are estimated to cost the buyer JD15,000 to JD60,000. Teachers interested in purchasing a unit must apply to the Education Ministry. They will be required to make a down payment of JD5,000, and will have to complete the price of the houses through instalments over a mortgage period of up to 30 years, to be set by the ministry and the construction company selected to conduct the project.

Minister of Education Khalid Touqan said those teachers who cannot meet the down payment can apply to the Social Security Fund to finance the first outlay.

As an incentive to buy, the 5.5 per cent of teachers' monthly salaries deducted each month as employee contribution to the Social Security Fund for retirement can now be applied to the down payment, Touqan said.

The ministry counts around 59,000 teachers in the country.

King Abdullah remarked at Monday's meeting: “We are aware of the harsh conditions teachers suffer, therefore, we are keen to provide them with suitable homes.”

The Jordan Times