Between 1980 and 2010, Tehran became an important city for real estate investment. Investors began to buy old houses and empty lots, converting them into residential mid-rise buildings of five stories or so. The outcome of this speculation was the creation of a new wealthy class in Tehran. As part of the process, the northern districts of Tehran such as Elahiye became a hub for wealthy people to by condominium apartments. In fact, the residential buildings in these districts have become a symbol of wealth since the 1979 revolution.
Images taken by Parham Karimi as part of the "Handicraft Cooperatives and Workspaces in the MENA Region" project.