Caracas, February 27, 2017 (venezuelanalysis.com) – Venezuela’s Great Housing Mission (GMVV) has reached the record of 1.5 million homes built nationwide since 2011.

On Thursday, Venezuelan President Nicolas Maduro handed over the keys to the GMVV’s 1.5 millionth apartment in the municipality of Cua in Miranda state.

“The handing over of the 1.5 millionth home is a world record… It represents a heroic effort… In this country there will not be any families without dignified housing so that they may live well,” the president declared on state television.

According to the head of state, the GMVV has now completed 50 percent of its goal of constructing 3 million new houses by 2019.

By the close of 2017, the Venezuelan government aims to have completed a total of 540,000 new homes in addition to repairing a further 550,000 under the Barrio Nuevo, Barrio Tricolor Mission.

The GMVV was launched in 2011 as a response to severe mudslides that left thousands homeless, but has since been expanded as part of an ambitious five-year plan to alleviate the country’s housing deficit that has been calculated at 2.7 million homes.

GMVV residents pay low monthly mortgage payments to the Venezuelan state, and in return receive a lifetime family deed to the residence that can only be sold or transferred under special circumstances.