Libya launches national housing policy to address shortage

The Prime Minister highlighted that housing in Libya is now an economic and social concern, requiring a shift from piecemeal solutions to a comprehensive, long-term national policy. The government aims to build an integrated housing and real estate finance system through a partnership between the state, banks, and the private sector. This initiative includes a national program to construct 150,000 housing units in its first phase and develop a stable real estate finance environment.

Minister of Housing and Construction Essam Al-Tamouni presented the ministry's action plan, including developing the "Libyan Building Code" to unify technical and engineering standards. The dialogue revealed a housing deficit of 315,000 units in Greater Tripoli, 175,000 in Greater Benghazi, 84,000 in the Central Region, 70,000 in the Southern Region, and 56,000 in other regions. Governor of the Central Bank of Libya, Naji Issa, emphasized real estate financing as a key driver for economic growth, requiring integrated roles from legislative, executive, and regulatory bodies, banks, and the private sector.