President Bashar Al-Assad issues a law granting the Public Housing Establishment an annual loan of 5 billion pounds to implement housing for state workers

On January 31st, President Bashar Al-Assad issued Law No. 1 of the year 2021 granting the Public Housing Establishment an annual loan not exceeding five billion Syrian pounds to implement housing for workers in the state.

The Minister of Public Works and Housing Eng. Suhail Abd al-Latif referred to the importance of this law in enhancing funding for the labor housing program, which would contribute to increasing the number of completed housing units annually.

Minister Abdul Latif said that this law will contribute to restoring balance to the financing program for housing workers in the country and covering the gap in financing resulting from the current circumstances and war.

Minister Abdul Latif stated that the method of paying the housing price from workers is basically “subsidized”, as it requires that the worker’s downpayment upon receiving the house reach 10 percent of the cost and continue to pay the remaining 90 percent of the house price over 25 years, according to what was stipulated in the legislative decree. No. 46 of 2002.

O. al-Mohammad