Housing bank to be set up in Djibouti

Jan 13, 2014

Djibouti has announced its intention to set up a housing bank within a few months.

Djibouti has announced its intention to set up a housing bank within a few months.

According to the Government, this initiative will instil a new dynamic in the promotion of homeownership, Xinhua reports.

It will also consolidate the work already undertaken in the provision of serviced plots and
the
construction of affordable and decent housing.

The estimated 2014 budget of the Housing Fund of Djibouti is Fdj2.6 billion (€10.5 million). It plans to invest over Fdj4.3 billion in several projects such as the ongoing construction of 540 apartments in the suburbs of the capital Djibouti, the construction of 120 apartments in the interior regions and further work on the reliability of the Barwaqo II project.

Djibouti is a small African country with only 900,000 inhabitants. Yet - newspaper Le Griot reports - several housing problems remain. A ministry of
housing was appointed three years ago to solve this issue, with the guideline "a decent
house
for each Djiboutian."ADNFCR-2976-ID-801681306-ADNFCR