Daelim awarded $1.06bn Iran Housing Project

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Daelim awarded $1.06bn Iran Housing Project

South Korea’s Daelim Industrial Company is set to develop a 500-hectare residential town in Tehran, Iran, at an investment of around €900 million ($1.06 billion), the report said.

The investment will be a major boost to the new township of Kharazmi about 50 km southeast of the Iranian capital, reported the Press TV.

The city is being built as part of satellite towns which are being developed to ease congestion in the Iranian capital of about 12 million, said the report citing officials from Iran’s Ministry of Roads and Urban Development.

Iran was once the sixth largest market in terms of orders won by South Korean builders, according to a statement by the Ministry of Trade, Industry and Energy in Seoul.

Korea Eximbank has said it was ready to provide project financing, loans and credit to Korean firms trying to secure business in Iran.

It is also seeking to secure a memorandum of understanding with Tehran on building 10 hospitals in the country, said the report.

Source: Trade Arabia

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.