Housing Support Program Benefits 48,000 Recipients, Injects $380 Million
Speaking at the House of Representatives during an oral questions session on Monday, El Mansouri revealed that the program has received over 128,500 applications, including 22% from Moroccans residing abroad.
'54% of beneficiaries received support valued at MAD 70,000 ($7,000), while 46% obtained MAD 100,000 ($10,000), covering at least one-third of housing acquisition costs for this category,' the minister stated.
The program, which began on January 2, 2024, rests on five key pillars, moving from tax exemptions to direct consumer purchasing power support.
It aims to enable low and middle-income families to access housing while diversifying residential offerings to include both apartments and individual houses.
Read also: Morocco's Housing, Medical Support Programs Reached Milestones in 2024
El Mansouri noted that the initiative has eliminated the previous requirement of building 500 units to qualify for benefits, thus encouraging small and medium-sized enterprises to participate.
'More than 80% of companies involved are classified as small and medium enterprises, breaking the monopoly that large corporations previously held over housing programs,' she said.
The economic impact has been significant, with cement consumption increasing by 11.64% in February compared to the same period last year. Housing loans rose by 2%, while loans to property developers increased by 6.62%.
Geographically, beneficiaries are concentrated in three main regions: Casablanca-Settat (35%), Fez-Meknes (31%), and Rabat-Sale-Kenitra (12%).
The minister added that the program has addressed housing needs in cities that had received insufficient benefits from previous initiatives, including Fez, Settat, El Jadida, Benslimane, Oujda, Berkane, and Taza.
She also mentioned that the digitization of the application process has simplified procedures and ensured transparency in the distribution of benefits.
'In addition to this program, the new approach to combating slums has revitalized the social housing program, allowing us to reach 90,000 government-supported units in 2024,' El Mansouri concluded. Tags: Direct Housing Assistancehousing in Morocco
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