Casablanca – Fatima Zahra Mansouri, the Minister of National Territory Planning, Urban Planning, Housing, and Urban Policy, announced significant progress in Morocco’s housing support program during a session in the House of Councillors. The program, launched by King Mohammed VI last October, has benefited 15,194 individuals to date, including a notable 20% of Moroccans residing abroad (MRE).

The new housing aid initiative has been met with great success, as evidenced by the high number of beneficiaries. Mansouri revealed that approximately 80,000 applications have been submitted from various regions across the Kingdom, with 89% meeting the eligibility criteria. This widespread participation indicates the program’s extensive reach and effectiveness.

The program has also had a substantial positive impact on Morocco’s national economy. The minister reported a 21% increase in cement sales and a 1.4% rise in housing loans for citizens. Additionally, loans to real estate developers have grown by 4.2%. These figures demonstrate the program’s ability to stimulate economic activity within the construction sector.

Mansouri highlighted the unique approach of the housing support program, which provides direct aid to homebuyers rather than focusing solely on supply. This strategy ensures more targeted and efficient support for those in need. The program offers substantial financial assistance, with direct aid amounting to approximately $10,300 for homes priced at $30,900 or less, covering one-third of the property’s value. For homes priced between $30,900 and $72,200, the aid provided is around $7,200.

Eligibility for this support is restricted to Moroccans residing in Morocco or abroad who do not currently own property in the country and have never previously received housing aid. The program aims to reduce the housing deficit, boost economic recovery, and enable small and medium enterprises to participate in state-subsidized initiatives.

Since King Mohammed VI launched the first socially oriented housing project, 4,250,000 low-income Moroccans have gained access to housing. The minister emphasized that the objective is not to support individuals in constructing homes on their own plots but to facilitate housing within a structured and regulated framework.

The success of Morocco’s housing support program is a testament to its thoughtful design and implementation, providing significant economic benefits and helping to address the housing needs of citizens both within and outside the country.