Libya faces 800,000-unit housing deficit, Prime Minister Aldabaiba outlines new policy

Speaking at a National Dialogue on the banking sector's role in housing and urban development, Aldabaiba emphasized that housing is now an economic and social issue. The new housing policy divides roles, with the state providing planning, land, and infrastructure, banks offering financing, and the private sector handling development. He categorized Libyan families into three segments: 15% capable of self-build, 15% able to purchase from the market, and 70% requiring support and long-term mortgage financing.

The first phase of the National Housing Programme aims to complete about 150,000 stalled housing units, with the state covering land, concrete structure, and infrastructure costs. Citizens will finance completion through long-term bank loans with a 15% down payment and repayment periods of 25 or 30 years. Aldabaiba noted that 10% of units would be allocated to those unable to pay, with ownership transferred by the state, stressing that support would be for eligible individuals, not free housing for all.

The next phase involves allocating planned land to developers to boost supply and stimulate the economy.