Algerian Housing Minister Belaribi Announces Two Exciting Developments: AADL-3 and New LPP Program
✏️ BY: Dr. Hana Saada
Algiers- Algeria, May 5, 2024 – Minister Mohamed Tarek Belaribi, responsible for Housing, Urban Planning, and Cities, unveiled substantial advancements concerning the AADL-3 (Location-vente) housing program alongside a new LPP (Promotion of Affordable Housing) initiative during his announcement on Sunday.
Regarding the AADL-3 initiative, Belaribi indicated that preparations for initiating subscriptions for this housing program under the rental-purchase scheme had reached an “advanced stage.”
Speaking at the inauguration of the 26th edition of the Batimatec 2024 Exhibition, Belaribi stated, “Once we have completed the allocations under the AADL-2 program, by July 5 at the latest, we will launch the AADL-3 program. Things are at a very advanced stage at AADL.”
Belaribi noted that a recent meeting at the ministry had discussed the legal framework governing the lease-purchase model, aiming to amend the executive decrees linked to the AADL program.
Progress on New LPP Program
Belaribi reported that preparations for commencing subscriptions had reached 90%, adding that the process would be entirely digital.
Concurrently with the AADL-3 program, a new LPP housing scheme is set to begin soon, he stated, clarifying that the launch of this program would follow “immediately after the start of subscriptions to the AADL-3 program,” with the specific date to be determined later.
Details of AADL-3 Program:
The AADL-3 initiative, operating under the rental-purchase formula, aims to provide affordable housing solutions for Algerian citizens, following the successful AADL initiatives. Eligible beneficiaries will have the opportunity to rent with the option to purchase their homes.
Preparations for launching subscriptions to the AADL-3 program are at an advanced stage, with the completion of allocations under the previous AADL-2 program expected by July 5. Amendments to executive decrees governing the AADL program are underway to ensure seamless implementation.
The introduction of subscriptions for AADL-3 will represent a significant milestone in Algeria’s efforts to tackle housing needs and encourage homeownership among its citizens.
Details of New LPP Program:
The new LPP housing program will complement the AADL-3 initiative, offering further opportunities for Algerians to access affordable housing. LPP, which stands for “Location-vente Promotion,” aims to facilitate homeownership through a lease-purchase mechanism.
With preparations for launching subscriptions to the new LPP program nearing completion, the initiative will provide additional housing options to meet the diverse needs of Algerian citizens.
The implementation of both AADL-3 and the new LPP program underscores the Algerian government’s commitment to addressing housing challenges and enhancing living conditions for its people.
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