Latest news with #HousingandUrbanDevelopmentCorporation
Roya News
7 days ago
- Politics
- Roya News
Jordan becomes first Arab country to submit second New Urban Agenda report
Jordan has achieved a major urban planning milestone with the United Nations officially publishing the Kingdom's second national report on the implementation of the New Urban Agenda 2025. This accomplishment makes Jordan the first Arab nation, and the fourth worldwide, to complete and submit the report. The comprehensive document, prepared by the Housing and Urban Development Corporation (HUDC), outlines Jordan's urban development progress between 2019 and 2024. It highlights key advances in sustainable urbanization, digital infrastructure, quality of life, and governance reform, all measured through clear performance indicators. These efforts are closely aligned with Jordan's broader Economic Modernization Vision (EMV). The report also reinforces Jordan's ongoing commitment to the UN's 2030 Sustainable Development Goals (SDGs), particularly SDG 11, which aims to make cities inclusive, safe, resilient, and sustainable. The report emphasizes evidence-based urban planning and turning urban challenges into development opportunities. 'We remain dedicated to submitting our national urban reports in accordance with international timelines, advancing sustainable development objectives, and engaging with global partners in urban reporting efforts,' said HUDC Director General Jumana Attiyat in a statement to Jordan News Agency (Petra). According to Attiyat, the report was developed over two years through close cooperation with a national committee that included government entities and sector representatives. It was formally approved by the Cabinet before being submitted to the National Library and later published on the UN-Habitat Urban Agenda platform. Attiyat explained that the preparation process was based on a participatory model, involving nationwide dialogue sessions in collaboration with UN-Habitat. These sessions focused on building local capacity and sharing global best practices in urban development. One of the report's major achievements is a marked improvement in data collection and analysis. While the previous national report covered just over half of the required indicators, the new report covers 95 percent, demonstrating significant progress in evidence-based planning.
Jordan News
08-07-2025
- Business
- Jordan News
Allocation of 1,039 Land Plots for Teachers' Housing Across Various Governorates - Jordan News
Jumana Al-Atiyat, Director of the Housing and Urban Development Corporation, announced the allocation of 1,039 land plots for building housing units dedicated to teachers across different governorates in the Kingdom. These plots are offered at subsidized prices with discounts reaching up to 50% compared to the market value. اضافة اعلان Al-Atiyat stated that the corporation has completed 45 projects so far, providing housing for nearly 1.5 million citizens. Additionally, the corporation has launched 21 electronic services to facilitate procedures and accelerate service delivery to citizens. In a media briefing titled "A Continuous Journey in Serving People and Places," Al-Atiyat added that the corporation operates along three main axes, with a key focus on policy through the Second National Report monitoring the implementation of the new urban agenda. The corporation also signs international agreements and memoranda of understanding, in addition to establishing multiple local partnerships to support its programs.
Hindustan Times
27-06-2025
- Business
- Hindustan Times
Finance dept worried about rising liabilities, wants govt to reduce committed expenditure
MUMBAI: The state finance department has expressed concern over rising liabilities and has stated that the government will have to reduce its revenue expenditure and rationalise its schemes. It has asked the public works department (PWD) to prioritise infrastructure projects, as financial resources need to be used judiciously. Finance dept worried about rising liabilities, wants govt to reduce committed expenditure The department has suggested that megaprojects be undertaken on a build, operate and transfer (BOT) basis, which entails private players doing the build and operate part so that the exchequer is not burdened. This stems from the fact that the state has given guarantees of ₹ 51.44 lakh crore against contingent liabilities till 2024-25 and is spending 22 percent of its total generated revenue for repayment of loans and their interest. The finance department made these remarks while approving funds of ₹ 20,878 crore for land acquisition for the 802-km Nagpur-Goa Shaktipeeth Expressway. The entire amount was taken as a loan from the Housing and Urban Development Corporation (HUDCO). It includes ₹ 12,000 crore for land acquisition and the remaining ₹ 8,787 crore for the payment of interest on the loan. While approving the proposal, the department made certain observations and remarks. It stated that while preparing budgetary estimates for the 16th Finance Commission, it was observed that capital expenditure would grow at a CAGR (compounded annual growth rate) of over 10%, the fiscal deficit would exceed the FRBM (fiscal responsibility budget management) limit of 3%, ranging between 3.13% to 4.08%, and in the next four to five years, the debt to GSDP (gross state domestic product) ratio would reach up to 25%. Moreover, the growth in interest payments by the AA (Account Aggregator) would approach 14%. The department stated that it had repeatedly expressed concerns about key aspects of project management and financial structuring of various major projects being undertaken by the PWD and its corporations. 'It is essential for them to prioritise the projects they have undertaken and ensure the optimal use of financial resources without spreading them too thin.' Apart from suggesting the BOT model for projects, the finance department suggested that the PWD explore alternative financing sources outside the budget, including private investment through the PPP model, monetisation of assets and innovative financial instruments like Infrastructure Investment Trusts (InvITs). It also suggested the PWD prioritise its schemes, which the department has already moved on. The finance department pointed out that HUDCO was giving the PWD a ₹ 20,878-crore loan at 8.85 percent interest, which was 2.1 percent more than what the government paid in the open market. It further asked why the PWD was going ahead with the land acquisition process without having all the environment clearances. Dismissing reports that the remarks were 'objections', CM Devendra Fadnavis said it was the finance department's 'duty to point out things'. Defending the government's taking of loans, he said that every new highway opened doors for the economy. 'When we invest ₹ 12,000 crore in an infrastructure project, the return against the capital amount is multifold, as it expands our economy and also creates more capacity to repay the loan amount,' he said. 'Hence, all countries are developing their infrastructure by taking loans. It is a rule that a loan taken for developing infrastructure is considered as the best loan, as it strengthens the economy.' According to the budget estimates for the financial year 2025-26, the state government is expected to have a total debt of ₹ 9,32,242 crore by March 2026. During FY 2025-26, ₹ 1,54,457 crore will be paid towards debt servicing— ₹ 89,798 crore will go towards repayment of the principal and ₹ 64,659 crore towards interest.
Hindustan Times
25-06-2025
- Politics
- Hindustan Times
₹20,000 crore approved for land acquisition & realignment of Nagpur-Goa expressway
MUMBAI: The Maharashtra government on Tuesday decided not only to go ahead with the Nagpur-Goa Shaktipeeth Expressway but also to fund the complete process of land acquisition for the project. It has approved a sum of ₹ 20,787 crore for acquiring more than 7,500 hectares of land. Of the total amount, ₹ 12,000 crore will be taken as a loan from the Housing and Urban Development Corporation (HUDCO). A file photo of Maharashtra chief minister Devendra Fadnavis with Shiv Sena leaders Subhash Desai and Diwakar Raote. (PTI photo) (PTI) The state cabinet took the decision despite strong resistance from farmers, especially those from western Maharashtra districts. During the meeting, two ministers—medical education minister Hasan Mushrif and state health minister Prakash Abitkar—expressed their reservations about taking the project ahead despite this opposition. Both are from Kolhapur district. The ministers suggested that the state government hold discussions with the affected farmers and try to find a way out of the situation. 'They told the cabinet that the Mahayuti coalition had already faced a backlash from farmers during the Lok Sabha elections,' revealed a minister privy to the development. 'This could be repeated in the upcoming polls if the state government decides to forcibly implement the project.' Taking this into consideration, the cabinet approved partial alignment of the project. 'It has approved the alignment connecting Pavnar, which falls in Wardha district, to Sangli covering more than 700 km,' revealed a senior official from the public works department (PWD). The cabinet also decided to scrap the alignment going through Shirol, Karvir, Hatkanangale, Kagal, Bhudargad and Ajara talukas of Kolhapur district. 'Chief minister Devendra Fadnavis directed the Maharashtra State Road Development Corporation (MSRDC) to prepare an alternate alignment for the remaining part of the project connecting Sangli with Sindhudurg district,' said another PWD official. 'Once this is done, the CM and the two deputy chief ministers will hold consultations with all the stakeholders—local MLAs and ministers among others—before taking a final decision on the alignment.' Deputy chief minister Ajit Pawar too confirmed that the state government was planning to change the alignment. 'When the ministers expressed their concern regarding resistance from farmers and requested Fadnavis to hear them out, he assured them that there was no reason for them to continue with the project if people were opposing it,' Pawar told reporters. 'The CM also assured them that he would try to change the alignment.' The state is powering ahead with this expressway despite opposition from farmers, as it requires private agricultural land on a large scale. In the run-up to the assembly elections last year, the then chief minister Eknath Shinde had promised that the project would not be imposed on the farmers but the government changed its position after coming to power with an unprecedented majority. The 802.592-km-long expressway will connect 12 districts: Wardha, Yavatmal, Hingoli, Nanded, Parbhani, Beed, Latur, Dharashiv, Solapur, Sangli, Kolhapur and Sindhudurg. It will later be linked to the Mumbai-Goa highway close to the Goa border. The expressway will reduce travel time between Nagpur and Goa from 18 to eight hours. The expressway has also been positioned as a religious and cultural corridor aimed at enhancing pilgrimage connectivity across Vidarbha, Marathwada and western Maharashtra, as it will connect three major pilgrimage sites—the Mahalaxmi temple (Kolhapur), Tulja Bhavani Temple (Dharashiv) and Renuka Mata Shakti Peeth Temple (Nanded). The project will be executed by the Maharashtra State Road Development Corporation (MSRDC).
Business Upturn
06-06-2025
- Business
- Business Upturn
HUDCO raises Rs 750 crore via NCDs at 6.52% coupon, to mature in 3 years
Housing and Urban Development Corporation (HUDCO), a Navratna CPSE, has successfully raised Rs 750 crore through the issuance of unsecured, taxable, redeemable, non-convertible, non-cumulative debentures (NCDs) under Series-C 2025 on a private placement basis. As per the regulatory filing on June 6, the Bond Allotment Committee approved a base issue size of Rs 500 crore with a green shoe option of Rs 250 crore, aggregating the total issue to Rs 750 crore. The NCDs have a tenure of three years, with annual interest payments scheduled on June 6 each year till maturity in 2028. The coupon rate offered on these NCDs is 6.52%, and the bonds will be listed on BSE. Notably, these are unsecured instruments and do not carry any special rights or privileges. There has been no delay or default in interest or principal payment as per the company's disclosure. This move strengthens HUDCO's financial position as it continues to finance infrastructure and housing projects aligned with its mission for a developed India. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Investments in debt instruments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
