Lebanese Youth Support Association housing project for young people in rural areas while safeguarding demography!

Lebanese Youth Support Association organised with Cr Group last week a press conference at the Press Club to launch its new project entitled “do you want USD 40,000?” The new housing project aims at enabling young Lebanese to buy apartments at low cost.  The project builds on a study done by the association and which showed that 80% of the Lebanese youth cannot buy residential apartments at market rates which often exceed by two times their earning power.
The residential project entails the construction of residential agglomerations of 500 housing units each in various rural areas in Lebanon.  As such, it seeks to relieve the cities from the current population over density and make use of the available space in rural areas.  Each agglomeration will also include shops and will attempt tp become a model village.  Housing units will be offered on the basis of 80 square meters (at a cost of USD40000), 100 square meters (at USD65000), 120 meters (at USD85000), or 140 meters (at USD 110000).  Construction will be in accordance with international architectural standards.
Acquisition will be governed by certain specific criteria.  Prospective owners must not have another property and must commit not to rent or sale their estate or use it for commercial purposes.  The law governing this project has also allocates 60% of the housing units in each locality to young people registered in these localities and the remainder 40% to those living there for more than 10 years.  In doing so, the project, according to lawyer Charbel Chawwa7h, seeks to safeguard the current demographic balances in the regions.
Source: Al-Mustaqbal, Al-Diyar, Al-Safir 16 December 2013