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Morocco to invest $7.5 Billion in housing projects - Abu Dhabi to fund portion By agencies RABAT, Morocco - The Abu Dhabi Development Fund on Wednesday (January 20th) unveiled Moroccan investment projects worth nearly 6m euros, Emirati news agency WAM reported. Under agreements signed with Morocco's Muntada Asilah Foundation, new residential housing units will be built in the Moroccan city of Asilah. Another project aims to support Moroccan tourism by building a new museum and cultural centre in the city. Morocco plans to also invest 60 billion dirhams ($ 7.5 billion) in low cost housing in 2010-2020 as part of efforts aiming to reduce the deficit to 700,000 units by 2015, Housing Minister Ahmed Taoufiq Hejira said. The government has also taken a series of measures to promote the low-cost housing sector, such as lower housing income and lower prices of units, the minister said at a meeting in the northern city of Tangiers. The government announced in 2008 a scheme to build an additional 130,000 social housing units by 2012, for an estimated value of 15.5 billion dirhams ($ 1.9 billion). Within the framework of this low-cost housing programme, the Al Omrane Group, Morocco's state-owned real estate company, broke ground in 2008 on 22,000 units, and committed to build another 129,000 residences, with a maximum sales price of 140,000 dirham ($ 17,000) in the coming four years. These programmes are the latest in a series of national housing plans aimed at providing homes for Morocco's low-income families. In 2004, the government launched Cities Without Slums programme (Villes Sans Bidonvilles, VSB) 21.4bn dirham ($ 2.7 bn), which is looking to shift some 280,000 households from the shantytowns into permanent residences. |
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| The Sub-Saharan Informer 2010 |
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