$15 b granted by the popular loan to accomplish 300.000 housing units of AADL and LPP

Housing Ministry will support the real estate which will be sold with its real price in accomplishing the housing units of the public promotional formula.

According to the data, which is available to Echorouk, the first part of completing the public promotional housing was set at 150,000 units, while the bank will ensure the funding of 100,000 housing units of ADL formula, as the public treasure will ensure the funding of 50.000 housing units.

Signatories of the convention described it as a precedent in the history of Algeria, as the national popular loan will ensure housing projects, considering it the sole and exclusive representative of public banks, with bank funds away from “oil revenues”, as the operation becomes purely commercial in the public promotional housing, which the mission of its completion will be granted to the companies of the “short list”, as the ministry is expected to announce on the list of companies this week in the national press.

Housing Minister, Abdelmadjid Tebboune, set the period of completing these projects at 24 months.

First programs are expected to be launched this week in both Ouled Fait and Sidi Abdellah, by the PM for the rental selling formula.

Tebboune said that Algeria was able through these conventions to overcome a very important stage in the transformation of the national economy, through the transformation from funding the public treasury to the involvement of the public banks in the process, which would ensure the continuity of the public projects , and follow a trade economy”. 

“Real estates are ready and deals were signed, and only the launch of the completion operations remains”.

For his part the General Manager of the Algerian Popular Loan, Mohamed Djellab, said on Sunday, on the sidelines of signing the agreement, that the process is a challenge in view of the allocated money and projects that related to it, as it is considered the largest of its kind.