Focus on expansion of housing finance options with private sector

TDT | Manama

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As part of the executive plan to implement the directives of His Majesty King Hamad bin Isa Al Khalifa to accelerate housing projects and provide 50,000 new units, Her Excellency Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, held an extensive meeting with heads and representatives of real estate development companies and commercial banks in the Kingdom of Bahrain.

The meeting focused on expanding public-private partnerships to provide social housing services, diversifying housing finance options, and introducing the new “Tas’heel+” programme as part of the Ministry’s efforts to broaden choices and enhance service quality.

Al Rumaihi emphasised the government’s commitment, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to strengthening partnership with the private sector to expand housing solutions in line with the Government Plan (2023–2026).

She highlighted the positive outcomes of the Housing Financing Programme and the Government Land Development Rights Programme, which have provided thousands of immediate housing services to citizens.

These results reflect the success of involving the private sector in housing programmes, benefiting from its accumulated resources and expertise in both the real estate and banking sectors.

The Minister reviewed recent developments in the Housing Finance Programme, including the launch of “Tas’heel+, which would strengthen private sector partnerships and accelerate service delivery.

Solutions

She noted that “Tas’heel+” will diversify financing options provided by the Ministry and Eskan Bank, in cooperation with participating banks, alongside ongoing housing projects by real estate developers through the Government Land Development Rights Programme. These efforts aim to deliver solutions aligned with citizens’ financing eligibility.

She commended the banking sector for offering competitive and supportive financial solutions that enable citizens to access immediate housing services, noting that the positive results achieved so far reflect the contributions of commercial banks and developers to the housing system.