History

The history of the Fonds

The Fund for housing development is an independent public corporation founded pursuant to the Act of 25 February 1979 regulating the granting of housing subsidies. It is a civic entity acting under the direction of the member of the government responsible for social housing accommodation, who also bears the political responsibility.
The Fund is responsible for all actions relating to the renovation of buildings, the acquisition and development of building sites and the construction of moderately-priced residential accommodation for sale of letting.

It focuses its activities on projects which are urgently needed
to satisfy regional and local housing needs and on urban redevelopment projects forming part of nationaldevelopment plans.
It is the Fund's policy to create a habitat more suited to human needs (without damaging the environment) for people of modest financial means unable to use the private market.
In actual fact, the Fund sells its residential accommodation at cost price.
This makes the accommodation very attractive because it is of high quality and is constructed in accordance with strict economic norms. Moreover, the purchaser acquires the accommodation on leasehold which saves him or her the cost of buying the site.