More than 15,000 Users on 'Baity' Real Estate Platform in Six Months

TDT | Manama

The Daily Tribune - www.newsofbahrain.com

Her Excellency Amna Al-Rumaihi, Minister of Housing and Urban Planning, confirmed that the upgraded "Baity" real estate platform, launched last February alongside the third Housing Finance Exhibition, has seen a significant uptick in interest from citizens seeking the ministry's financial services. The platform has attracted about 15,700 visitors from February to July 2024.

The minister highlighted a consistent monthly increase in users, attributing this to the variety of real estate options available at prices that align with housing finance through different "Tas’heel" funding schemes and the newly introduced "Mazaya" category. These options include units, plots, and apartments across all governorates of Bahrain. The platform offers users the flexibility to view details, sizes, and prices of properties listed by real estate companies in the kingdom.

Minister Al-Rumaihi noted that the number of properties available on the platform has grown, driven by increased interest from real estate companies eager to showcase their offerings on "Baity." The number of participating companies has risen to 43, presenting approximately 11,580 properties valued at BHD 1.3 billion.

Regarding the financial services accessible through the platform, data indicates that 58% of users have chosen "Tas’heel" financing, 22% have opted for "Mazaya" financing, and 20% for the new "Mazaya" category. The minister mentioned that the financing options provided by participating banks play a crucial role in attracting citizens to the platform's financial services.

Additionally, the Minister of Housing and Urban Planning stated that the joint team from the Ministry of Housing and Urban Planning and the Housing Bank is currently executing the second phase of the platform's development. This phase aims to introduce more interactive features to assist citizens in selecting and reserving properties online and completing the entire transaction for property purchase through the ministry's financing directly via the platform. This initiative is part of the ministry's broader digital transformation strategy to digitise all its services and provide citizens with greater flexibility to secure housing swiftly.