TEHRAN – Iran has attracted more than $100 million in private investment to restore historic buildings, with around 200 properties across 29 provinces entering a program that combines heritage preservation with tourism, employment and local economic development.
Mojtaba Shokri, acting head of the Fund for Development of Handicrafts and Handmade Carpets and the Revitalization and Utilization of Historic and Cultural Places, said that around 100 properties are now operational, while another 100 remain under restoration.
The program began taking shape in the early 2000s, with the transfer of historic properties to private operators becoming operational in 2005 and 2006. Most restored buildings serve as accommodation or hospitality venues, while others house cultural facilities and spaces for the display and sale of handicrafts.
Examples include Bekhradi House in Isfahan, Ameriha House in Kashan, Moghith al-Islam Mansion in Borujerd, Tenkaboni Bathhouse in Qazvin and the Iran Hotel in Rasht.
Shokri said the revitalization of historic properties helps preserve architectural heritage while improving urban security, creating jobs, expanding tourism and strengthening local economies through private investment.
Six properties have recently entered tourism and business operations following restoration: Kazerooniyan House in Shiraz, Khadem-Bashi House in Ardabil, Zaeim Aboui House in Zahedan, Shah Bathhouse in Isfahan, Raeifard House in Birjand and Kenargard Caravanserai in Tehran Province.
According to Shokri, restoration and operation of properties under the fund’s supervision have generated around 7,000 jobs. The figure includes employment in restoration work as well as staff positions at operating venues with different uses.
The fund relies on private-sector participation and receives no government budget for its programs, he said. However, some buildings are not commercially viable without public support, even when investors are interested in restoring them.
To address this, the fund has identified projects in which the government could cover part of the costs to make restoration financially feasible. Concessionary financing is also available for projects that allocate part of their space to handicrafts.
Shokri said investors are assessed on their financial capacity, relevant knowledge, experience, legal status and commitment to protecting
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