New Conditions For the Sale of Subsidized Promotional Housing

The Minister of Housing, City and Urbanization, Mohamed Tarek Belaribi, directed an urgent instruction to the sector managers to simplify a mechanism for the financial management of the Subsidized Promtional Housing projects, and to accelerate the payment of the dues of the real estate upgraders in the advanced projects, with the adoption of new conditions in the process of selling the subsidized promotional housing LPA.

In his instructions dated July 10, the Minister stated that the first part of the promotional housing is paid without adhering to the minimum numbers of sales contracts for the beneficiaries of (vsp 50- Sales on Plans) deposited at the level of the Housing Bank, provided that the percentage of progress in the works is available according to the book of conditions related to this formula and other financings by the Housing Bank, as well as the financial contribution by the beneficiary, whether personal or through a bank loan, which covers the payment requests required by the promoter.

The instruction also indicated that about the progress of the works, “there is the possibility of submitting partial works reports to obtain the most subsidy for the completed works that have been technically approved – collective or individual housing – while respecting the agreed completion deadlines within the limits of the financial resources mentioned in the first item.”

About the sale in the event of the end of the project’s works, the instruction stated that in the case of the finished subsidized housing projects, a certificate of conformity is received before the completion of all sales contracts on the designs, which makes their preparation not possible for the housing whose ownership transfer procedures have not been settled.

The instruction added that “accordingly the sale in the complete condition is acceptable to the total housing concerned based on the delivery of the certificate of total conformity to the project, and the financial settlement and this is by paying all the part to the promoter, is carried out in proportion to the prepared sales contracts”.