Ecuador delivers 135 homes through Miti-Miti housing project

Ecuador's "Year of Construction," championed by President Daniel Noboa, is yielding tangible results with the delivery of 135 homes in the Terrazas del Chamizal housing project. Located in Conocoto, within the Valle de los Chillos, this development offers residences through the government-backed Miti-Miti and Credicasa housing programs.

The project represents an investment of $2,337,000. Currently, 95 homes have been reserved under the Credicasa plan, with 20 more reserved through Miti-Miti. An additional 16 homes are ready for immediate handover to their new owners, fulfilling their dreams of homeownership.

President Noboa highlighted that such projects are vital for stimulating Ecuador's economy. He also noted a visible decrease in mortgage interest rates across both private and cooperative financial institutions. The Miti-Miti plan specifically provides housing with an attractive interest rate of 4.9%, a 5% down payment, and repayment periods extending up to 30 years. Nationally, this plan has initiated 9,557 projects. Credicasa, tailored for retirees and affiliated members, offers an even lower preferential rate of 2.99%.

During a visit to Terrazas del Chamizal, President Noboa inspected the construction progress. The development is equipped with essential services, including potable water, electricity, green spaces, sports courts, and children's play areas, aiming to provide a dignified living environment for 135 families. Beneficiary Dayana Carrera expressed deep gratitude, calling her new home a "dream come true" and urging others to take full advantage of the Miti-Miti and Credicasa programs. The construction sector has seen a significant 20% growth in the first quarter of 2026, with banks and cooperatives disbursing $362 million in housing loans, a 25% increase.