Citizens to benefit from loans for buying houses

Mohammad Jallab, President and General Manager of the CPA announced on funding the financial institution for housing projects that will be launched in the future, and to ensure the granting of loans to citizens with average income for the acquisition of public houses.

He explained on Monday, in a statement for Echorouk, on the sidelines of launching the foundation of “Algeria Rent”, regarding the content of financing housing projects of the CPA, the bank and immediately after the completion of the studies relating to the residential program, the files will be presented to the bank that will study it and give it the necessary funding, as it will be representing all the Algerian banks.

In the second stage the CPA will supervise on granting loans to citizens wishing to acquire houses, and will direct the funding for the acquisition of public calvicular residences, as this new strategy

which was announced by Minister of Housing recently, is directed especially for the middle class of citizens who earn between 6 and 12 times higher that the basic wage and equivalent to 108.000 and 218.000 dinars.

As for the details of obtaining loans, General Manager of CPA, said that it concerns housing projects that are not yet completed, as the companies that will complete the projects will notify customers who are enrolled in this type of housing formulas, before heading to the bank to get a loan that will be 6%, a figure which can be reduced -according to Jallab- because of the completion of new projects that may end after at least two years, so the interest rate is likely to decline.