Algeria: Price of “AADL” housing unit hiked to 7 million dinars

The housing and town planning ministerial department has put forth a proposal to the Finance Ministry and through it to the government to take the necessary steps in order to upgrade the architectural quality in the construction of the new batch of the hire-purchase AADL apartments destined to the middle-class section of the Algerian population.

As a result, well-informed sources close to the housing ministry told Echorouk that the price of the future AADL housing unit has been overhauled to reach 700 million centimes (DA) as the price of a square meter for each flat has now been scaled up to 39 thousand dinars and that  related to the fitting out of all the necessary indoor amenities is estimated at 94 thousand dinars.

Thereby, a flat to be constructed within the housing AADL program endowed with all the proper amenities will now cost around 7 million dinars to be paid through installments.

The Finance Ministry is now examining the housing ministry’s proposals before seeking the seal of approval for this revamped AADL housing construction and pricing procedures by the council of government.

However, the same sources suggested that this steep price – hike for the AADL apartments was unlikely to be endorsed by numerous new housing-seeking citizens with average monthly incomes, arguing that they would be unable to shoulder such a heavy financial burden even if it has to be paid through the hire-purchase program extending over a 20-year period.