The Algerian government has introduced a significant 10% reduction on the sale price of AADL housing for specific buyers, with new measures aimed at supporting housing affordability and financing.
In a positive development for Algerians enrolled in the AADL housing program, Finance Minister Laaziz Faid revealed that a joint decree between the Ministries of Finance and Housing will soon be published, formalizing a 10% discount on AADL housing for beneficiaries who have already paid 25% of the housing price and wish to settle the remaining balance in one payment ahead of the due date. This move, detailed in article 101 of the 2024 Finance Law, aims to make homeownership more accessible.
Additionally, the 2025 Finance Bill includes another 10% discount for beneficiaries of the AADL 3 program who have already paid 38% of the purchase price. This initiative is intended to encourage early payments.
The government has also pledged to support the housing sector by covering bank interest during the deferred payment period. They will provide zero-interest loans to public banks, which will help finance 135,000 new AADL housing units by 2025. To further boost purchasing power, a budget of 191.16 billion dinars has been allocated for housing programs, which will fund 185,000 new AADL housing units and 40,000 rural housing units.
In addition, 422.47 billion dinars have been allocated to support pensions, easing the burden on pensioners and vulnerable groups.
These measures reflect the government’s commitment to improving housing accessibility and stimulating the construction sector. The Ministry of Housing, Urban Planning and Urban Affairs has also signed an agreement to launch the construction of 200,000 AADL 3 housing units, with the first phase set to begin in 2025.
These efforts by the Algerian government underscore their determination to ease access to housing, assist citizens in purchasing homes, and strengthen the national construction industry.
Comments