Algeria launches project to build 200,000 houses
Algeria has launched the third stage of an ambitious housing programme for citizens involving the construction of 200,000 units in the capital and other cities.
The Housing Ministry said at the weekend it has signed an agreement with the National Housing Bank and other establishments to fund the project.
AADL 3 is part of the AADL housing programme approved by the cabinet last year to build in excess of two million houses for citizens.
The Algeria press agency said six national banks would provide funding of up to 62 per cent to citizens wishing to buy houses.
'Citizens should provide the remaining 38 percent in five instalments..,this plans is intended to ensure housing for citizens at affordable prices and contribute to tackling the housing crisis in urban areas,' the agency said.
(Writing by Nadim Kawach; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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