300 Thousand Public Promotional Housing Units Earmarked For Nationals Settled Abroad

The housing and town planning ministerial department has decided to work out an ambitious action program providing for the allotment of up to 300 thousand new housing units for the benefit of members of the Algerian community settled overseas.

This endeavour will come in the framework of the Public Promotional Housing Program called “LPNR” and will be exclusively destined to new accommodation-seeking Algerian nationals residing abroad.

 The housing ministry has already set up three ad-hoc commissions at the close of a broad-based meeting chaired by housing Minister, Abdelmadjid Tebboune, in charge of examining ways and means of ensuring the smooth implementation of this new housing formula.

 The three relevant commissions are made up of representatives of the housing and finance Ministries as well as those of the Bank of Algeria, several public trading banks in addition to members of the two houses of parliament.

 The commission members are expected to put forward by the end of next week a set of proposals for this purpose to the Prime Minister in a bid to see this brand-new housing formula being officially endorsed through a ministerial decree or an inter-ministerial decision.

 The recipients of this formula not exceeding the age of 65, will have to pay for the value of their future housing unit through a bank credit in foreign currency, in line with the trading conditions defined to this effect by the specialized commissions.

 According to a recent census taken by the foreign affairs Ministry services, over two million Algerians are registered at the foreign – based Algerian embassies and consulates, including 80% of them settled in France.