Africa > North Africa > Algeria > Major investment in council housing in Algeria

Algeria: Major investment in council housing in Algeria

2013/10/15

Algeria has decided to tackle by 2014 one the country's major problems together with youth unemployment and terrorism, the lack of council housing, investing 60 billion dollars in the project - a sum which exceeds the GDP of most nations worldwide. The plan has attracted construction giants, particularly Chinese companies working in the country which have however recently been reprimanded by authorities for delays in production.

Housing is a key investment in Algeria and has led to major protests over the allocation of council housing periodically challenged given the high number of applicants. Presently Algeria plans to complete a five-year plan to build 2.6 million public housing units by the end of 2014.

Abdelmadjid Rebboune, the housing minister, has drafted the ambitious road map, starting with an intensive construction plan in rural areas where 900,000 council houses will be set up and 80% are by presently being built.

Most tenants prefer to rent and again from presently on buy their lodging by subtracting all rentals paid from the apartment's price. Roughly 1.6 million people have asked to be assigned one of the units. But in five months authorities examining the applications have rejected 130,000.

Comments

Related Articles

China signs deal to produce 10,000 vehicles per year in Algeria
2013/11/13 Chinese national manufacturer FAW is to build an assembly plant in Algeria producing 10,000 vehicles per year under an agreement signed with private Algerian firm Arcofina, the company's CEO said. The transaction provides for an initial investment of five billion dinars ($61 million), Arcofina CEO Abdelouahab Rahim said at the signing of the agreement in Algiers on Saturday, adding that the figure will rise. To conform with Algerian law, Arcofina will own 51 % of the plant and FAW 49 %, with the aim of reducing the Chinese manufacturer's share to 40 % next three years, Rahim said. FAW is to build assembly plant in Algeria producing 10,000 vehicles per year under agreement signed with Algerian firm Arcofina.
Sonelgaz will spend 1.5 billion dollars
2013/11/08 Sonelgaz has officially attributed tenders for the construction of thee gas turbine power plants with an in general capacity of 1.600 megawatt. The whole operation will cost 1.5 billion dollars, said Algeria's national electricity and gas company Sonelgaz. The stations will be in Boufarik, Hassi R'mel and Oumache and will be made by Turkish group Gama, the group General Electric and Metka and Sotuh Korea's Hamwha.
Serbia and Algeria equal their 'excellent political relations'
2013/11/07 It is the objective of both Serbia and Algeria to develop economic cooperation that would mirror the high level of political relations, Serbia's Initial Deputy Prime Minister Aleksandar Vucic and Algerian Minister of Water Resources Hocine Necib agreed Wednesday before a conference of the economic committee of the two nations. It is in Serbia's economic and political interest to improve relations with Algeria, Vucic stressed. Speaking about economic cooperation, Vucic said that Serbian companies had demonstrated interest and were able to supply Algeria with agricultural machinery and equipment, food products, rubber products and consumer goods, particularly medicines.
Algeria plans industrial zones
2013/10/11 Improving increase in the non-oil sector has long been a focus for Algeria’s government, with the majority recent push coming in the form of the planned construction of eight pilot industrial zones next year. The industrial parks represent the initial wave of a broader national initiative which will see 42 dedicated zones established in 34 of Algeria’s provinces by 2017, part of a drive to stimulate investment and innovation across the manufacturing sector. The project, led by the Ministry of Industry, Small and Medium-sized Enterprises, and Investment Promotion, has a particular focus on generating industrial activity in sparsely populated and underserved areas, inclunding the Hauts Plateaux and southern regions, to help strengthen employment and revenues outside of the larger urban areas.
Algeria: President Reshuffles Cabinet
2013/09/20 Just months ahead of the Algerian presidential elections, Abdelaziz Bouteflika made key changes to his cabinet on Wednesday (September 11th). Under the reshuffle announced by President Bouteflika, General Ahmed Gaid Salah will serve as both deputy defence minister and army chief. Constitutional Council Chairman Tayeb Belaiz replaces Dahou Ould Kablia as interior minister. Ramtane Lamamra is the new foreign minister, while Tayeb Louh swaps his labour ministry position for the justice portfolio.