8,000 happy homes

TDT | Manama

Email: mail@newsofbahrain.com

More than 8,000 citizens have secured homes through a government-backed housing finance scheme, with four in five beneficiaries opting to buy rather than wait for state-built housing, Housing Minister Amna Al Rumaihi told Parliament.

Launched in 2022, the initiative provides a faster route to homeownership through mortgage-style funding. Buyers can receive up to BD 70,000, with additional support for those on lower incomes.

“The programme ensures buyers can secure the highest possible financial backing through a government-supported framework suited to their earnings and repayment capacity,” Al Rumaihi said. Those unable to qualify for the minimum BD 40,000 threshold will have the shortfall covered as a non-repayable grant.

Borrowers can use the scheme to purchase, build, or extend properties rather than remain on the government’s waiting list. The Tas’heel and New Mazaya programmes were introduced to make funding more immediate and flexible.

Since 2022, the finance programme has helped four in five participants move from state waiting lists to securing homes without delay.

To further expand housing options, the ministry has increased collaboration with private developers, making government land available for projects through a bidding system. New developments are underway in Madinat Salman, Buhair, Hoorat Sanad, and Khalifa City, the latter expected to deliver around 3,000 homes.

“This approach allows private firms to work alongside the government, increasing the supply of affordable homes,” Al Rumaihi added.

Demand has surged since the scheme’s launch, aided by a series of housing finance exhibitions where buyers can compare options from developers, estate agents, and banks.

To streamline the process, the ministry, in partnership with Eskan Bank, has introduced Baiti, a real estate platform allowing buyers to review financing options, browse properties, and complete transactions online.

Al Rumaihi reaffirmed the ministry’s commitment to working with Parliament to meet demand and expand housing options for citizens.