Maghreb Arabe Presse: Morocco to build 130k low-cost housing units

Maghreb Arabe Presse: Morocco to build 130k low-cost housing units

Rabat, Mar. 30 - Morocco is set to build 130,000 low-cost housing units in the coming four years both in urban and, for the first time, in rural areas across the north African country for a total budget of MAD 15.5Bn (USD 2.13Bn).

The budget is totally exempted from taxes, and will be directed to families whose monthly income is less than MAD 2,500 (about 344). They should be either working in the police, civil servants, living in houses due for demolition, or employees in the private or handicraft sectors.
The government aims also to diversify offer in the housing sector, fight insalubrious housing, and involve small and middle-scale real estate developers in the operation.
The prices of houses and flats built in the project will not exceed MAD 140,000 (USD 19,300).
Besides cities and towns, the project provides for the first time for constructing low-cost housing units in rural areas. 22,353 one-storey houses are programmed part of the project, and they will respect the architectural cachet and the construction materials used in the countryside.
Low-income families will be able to obtain housing loans through the guaranteed loans program, known as FOGARIM, and set up by the government in 2005 to ease access to descent housing to individuals with low or irregular income.
The signing ceremony of the convention related to this nationwide program was chaired by king Mohammed VI in the royal palace here.
Speaking on the occasion, Housing and Equipment Minister, Ahmed Taoufiq Hejira said the yearly output of low-cost housing has for the third year exceeded 100,000 units, noting that housing credits went beyond the threshold of MAD 100Bn (over USD 13.7Bn), thrice the amount granted in 2002.
He said the government has taken a panel of measures to contain the unprecedented upsurge in land prices, and the rareness of labor due to the number of projects.
The executive’s strategy relies on feeding up housing offers, through launching new urbanization areas, which is expected to step up the yearly output of low-income houses to 150,000 by 2012.
The minister said the sector of housing has generated, during recent years, 30% of the job opportunities.

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