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Libya and Korea discuss resuming stalled housing projects
via Libya Herald2 min read
Faisal bin Dardaf, Director of the National Housing and Real Estate Development Programme, met with the Korean Ambassador to discuss reactivating stalled housing projects. The meeting on Tuesday, April 21, focused on ensuring the completion of these projects according to approved plans. Both sides emphasized supporting government efforts to address the housing crisis by constructing 150,000 housing units and strengthening technical cooperation to guarantee quality implementation and overcome obstacles. The National Housing and Real Estate Development Programme is opening registration for construction companies to implement new and stalled projects. Libya needs over one million housing units in the next 10 years, estimated to cost over 200 billion dinars. Prime Minister Aldabaiba has been following up on his 150,000-unit housing initiative. The Real Estate Savings and Investment Bank has launched a "Savings for Housing" Islamic Sharia savings account, and the Libya Industry Union supports the Central Bank of Libya's initiative to complete stalled housing projects using cheaper, locally manufactured raw materials. The Tripoli-based Libyan government plans to complete 150,000 housing units by 2030.
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