Public promotional houses at 1 billion centimes for five-room-apartment

Applicants for promotional real-estate houses can pay the whole price at once if they can afford it as it will not exceed 1 billion centimes for a five-room-apartment, said Sunday General Director of the National Enterprise of Promotional Real-estate Amar Glati.

“A total of 37,252 application forms have been withdrawn until Sunday including 22,552 in Algiers. Most of the applicants are married couples, craftsmen, entrepreneurs and executives in national public and private companies,” Glati told Echorouk.

He added that deadline is still open upon request from the Algerian housing minister Abdelmadjid Teboune. “Houses will be in conformity with international standards and will be built with high quality materials.”

A total of 1,000 billion DZ was allocated to build 151,850 houses. Applicants can get loans from the National Popular Credit (CPA) at a 3 percent interest rate. The projects are expected to be delivered within two years. They are conducted by joint ventures and national companies such as COSIDER which is in charge of building 5,000 houses in the capital, Constantine, Mostaghanem, Skikda and Annaba.

According to Glati, final figures of provincial programs will be announced by the end of applications reception.

He said the list of residents will be announced a year before the end of the projects in accordance to applications and applicants’ choice.