88.000 Euros To Buy LPP Project’s Apartments

Algerians who are living abroad can buy apartments in Algeria, according to the Ministry of Housing, Urbanization and the City, which estimated the value of LPP three-room apartment (80 m²) at 58750 euros, while the price of a four-room apartment (100 square meters) is equivalent to 73400 euros, and the price of a five-room apartment (120 square meters) is 88,000 euros.

Housing Minister, Abdelwahid Temmar, said that of the 2,247 housing units that are directed to the Algerian community living abroad, 16,000 were registered across 24 states in the first process.

He added, during a meeting with members of the Algerian community in France, where it was organized at the Algerian embassy, Saturday, that “16,535 subscribers are registered through 24 provinces, including 13,963 of the Algerian community that is residing in France, or 84% of applications”.

The Minister of Housing explained that the number of subscribers who confirmed their choice has increased to 6.712 of them 5.310 of the national community in France, or 79%.

“Works for the completion of the 2.247 houses are distributed in 24 provinces under various levels of progress. The process is generalized at all the provinces of the country to assess the demand, allowing to start new operations according to the potential of real estate and the capabilities of the National Foundation for the promotion of real estate”.

This process, which was launched on February,1, is designed for residential units that were completed according to the specificity of each region. It consists of collective, semi-collective and individual housing in addition to its availability in the three types: 3 rooms (80 m²), 4 rooms (100 m²) and 5 rooms (120 m²).

In addition, the minister said that among the privileges, subscribers can also benefit from a loan of up to 90% of the value of housing with an improved interest rate of only 3%, noting that the administrative procedures have been mitigated “as far as possible” because the file includes only a simple request provided that the subscriber does not own property in Algeria.

The Ministers of Housing, Urbanization and the City, Abdelwahid Tammar, and the Labor, Employment and Social Security Minister, Mourad Zamali, began a visit to France on Friday to explain the measures that are planned in the framework of the procedures that were decided by President Bouteflika for the Algerian community residing abroad.

The two ministers, who are directly concerned with these measures, will hold four meetings with members of the Algerian community, and a meeting will be held in Paris at the Algerian Embassy in France.

They will travel to Lille on Saturday to meet with Algerians who are living in the northern region of France, then they will travel to Lyon on Sunday before ending their mission on Monday in Marseille.