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Rabat – King Mohammed VI chaired today a session at the Royal Palace in Rabat focusing on the housing and urban development sector, according to the Royal Cabinet.
During the meeting, Morocco’s Minister of Territory Planning, Urbanism, Housing, and City Policy Fatima Ezzahra El Mansouri outlined a comprehensive housing assistance program to enhance citizens’ access to housing.
Set to run from 2024 to 2028, the new initiative aims to improve Moroccan’s access to property and strengthen their household purchasing power through direct financial aid.
The statement noted that the program aligns with the King’s vision to enhance citizens’ access to decent housing.
Individuals eligible for the support program include Moroccans residing in the country and abroad who do not own property and have not previously received housing assistance.
The amount of allocated aid will depend on the value of the property, with a maximum aid of MAD 100,000 for properties with a value of up to MAD 300,000, and MAD 70,000 for properties with a value ranging between MAD 300,000 and MAD 700,000.
This initiative aims to facilitate housing access for lower-income and middle-class communities and reduce the housing deficit.
In addition, the program is set to boost economic growth by augmenting the housing supply, and reviving the housing sector, particularly benefiting Small and Medium Enterprises (SMEs).
The program is also expected to create job opportunities, added the Royal Cabinet.
A total of 12 regional Urbanism and Housing agencies will be established to ensure that the housing units the program covers are built in compliance with exciting development plans and quality standards.
In addition, the regional agencies will ensure that the housing units will be tailored to the specific needs of urban and rural areas.
