Well-informed sources told Echorouk that the Ministry of housing and land development is to revamp in the very near future the housing fund allocation criteria notably by setting new conditions for the acquisition by citizens of new promotional housing units.

• Well-informed sources told Echorouk that the Ministry of housing and land development is to revamp in the very near future the housing fund allocation criteria notably by setting new conditions for the acquisition by citizens of new promotional housing units.
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• Under the projected program to be worked out by the housing ministry and its various partners operating in the housing sector, 4 – room new flats will be built instead of the previous 3 – room flats but the price of the square meter will be obviously hiked.
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• Therefore, the previous price set for a 3 – room new flat to be acquired by hopeful citizens as part of the promotional housing program will be reviewed, according to new pricing criteria.
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• The previous price for a new 3 – room flat was set at 2 million and 800 thousand dinars, including a back – up financial subsidy graciously allotted by the government.
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• This price will be raised on account of the steep hike in the cost of building materials, Ministry sources said.
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• “Algeria housing sector boom creates jobs”
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• Construction projects in Algeria will create up to 2.5 million jobs within the next three years, Housing Minister Noureddine Mousssa told reporters in Algiers.
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• The housing sector provides “an excellent opportunity for young people wishing to create their own businesses or form groups to undertake deals in the construction industry,” Moussa said.