Stalling in LPP housing units’ achievement due to delayed subscribers’ payment

The National Real Estate Development Company (ENPI) announced Wednesday that subscribers to public promotional Housing Program (LPP) are not compelled to proceed to the payment of a third tranche, said a statement from the Ministry of Housing, Town Planning and the City.

The ENPI merely contents itself with the payment of the first and second tranches. There will be no third tranche in payment for the newly-built LPP housing units, contrary to what was purported by some newspapers and social networks, the statement said.

Subscribers to the LPP are required to fulfill all the remaining amounts in housing prices before securing the keys of their apartments. The subscriber has the option to pay cash or borrow from a bank.

The ENPI says acquiring a promotional public housing is “a purely commercial transaction” and that the granting of bank credit is a matter that concerns only the subscriber and the bank.

The Company said that its role in implementing the public promotional program it oversees, adding that it is tasked with to supervising and monitoring the progress of projects for their delivery to beneficiaries.

The Company further blamed the delay in the delivery of the first quota of promotional public housing units for non-payment by the future recipients of housing units’ prices.

Pending the financial settlement of this untoward situation, the gradual operations of housing distribution to beneficiaries will be launched, the statement said.

The formula for public promotional housing (LPP) was created in 2013. It is intended for people whose monthly income is between 108.000 and 216.000 DA, provided they do not have more than one F1 and not having benefited from housing, a building plot or a state assistance for the acquisition of housing.