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🇪🇨 Ecuador /Elections & Politics

Ecuadorian President Delivers Over 100 Homes in Quito

From El Comercio · () Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Ecuadorian President Daniel Noboa delivered over 100 homes in Quito through the "Miti-Miti" housing program.
  • The program offers favorable mortgage terms, including a 4.99% interest rate and a 30-year repayment period.
  • The Inter-American Development Bank (IDB) is supporting Ecuador's housing initiatives with a $500 million trust fund.

President Daniel Noboa inaugurated a new housing complex in Quito on July 21, 2026, as part of the "Miti-Miti" initiative, which aims to make homeownership more accessible. The newly delivered homes are located in the Jardín de la Primavera complex, comprising 111 units.

The "Miti-Miti" program provides significant financial benefits to buyers, including a mortgage interest rate of 4.99%, a repayment period extending up to 30 years, and a down payment of just 5%. During the event, Noboa was accompanied by Ilan Goldfajn, the president of the Inter-American Development Bank (IDB). The IDB has allocated a trust fund of approximately $500 million to support Ecuador's housing programs.

We had a fantastic visit, beautiful houses, very well finished and the money people pay for what they were renting, they are paying for their house.

— Ilan GoldfajnThe IDB president commented on the quality of the housing and the financial benefits for residents.

Goldfajn praised the quality of the housing complex, noting that residents are now investing in their own homes rather than paying rent. Gustavo Beltrán, a beneficiary, shared his gratitude, highlighting the difficulties in obtaining mortgages in the past and how the "Miti-Miti" program has made homeownership a reality for many families. "It is an immense joy, we are going to have a property for life," he stated.

It is an immense joy, we are going to have a property for life.

— Gustavo BeltránA beneficiary of the housing program expressed his happiness and the long-term value of owning a home.

Another resident, Estefany Ibarra, described the amenities at the Jardín de la Primavera complex, which include green areas, sports courts, an event hall, a gym, a swimming pool, and a pet-friendly zone. Her own home features three bedrooms, a living room, a kitchen, three bathrooms, and a patio. Ibarra encouraged other families to explore these housing options, emphasizing that owning a first home is achievable and beneficial for families.

To date, the "Miti-Miti" program has delivered 9,557 homes across Ecuador, benefiting 28,671 people and representing an investment exceeding $280 million. In the Pichincha province alone, 3,046 homes have been provided. This program is a key component of the government's strategy to expand access to affordable credit and facilitate the acquisition of private property.

This is real. You can come to have your first home, a benefit for your family and for your children.

— Estefany IbarraA resident encouraged others to consider the housing projects, emphasizing their reality and benefits.
DistantNews Editorial

Originally published by El Comercio in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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