Housing Foundation's loan revival plan

The General Housing Authority in Lebanon is seeking to resume providing housing loans after their suspension in 2019 due to the financial crisis. This will be achieved through a new plan that will be submitted to the Council of Ministers. The plan includes allocating $100 million from the budget to offer loans in US dollars with an interest rate ranging between 3% and 3.5%, with each loan not exceeding $100,000. The aim is to enable approximately 1,400 families annually to own their homes. Additionally, the plan seeks to stimulate the real estate sector and activate around 65 related economic sectors linked to construction, thereby promoting social and economic stability. The authority is also looking to secure external funding, and it is expected that the reintroduction of loans will boost demand for small apartments and create job opportunities, despite the rising costs of building materials, which pose a challenge.

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