Bucharest’s General Council decided yesterday to set up the Metropolitan Buildings Trust, a company under the authority of the municipality, whose main task is to build houses for young people and other vulnerable categories.

Bucharest mayor Gabriela Firea said that this company would not collide with private developers or constructors. She explained that the niche that the new company covers would never have the financial resources to contract a loan to buy a house from a private developer.

The new company will make all the acquisitions for construction materials via auctions. The company will also be controlled by the Court of Auditors, Firea added.

The Metropolitan Buildings Trust will build homes for young people to rent and buy, apartments destined to be used as social houses, homes for young couples with ages below 35, or for other categories of people to be decided by the Council.

editor@romania-insider.com