Bahrain Cabinet announces new housing finance scheme for citizens

TDT | Manama                                                         

The Daily Tribune – www.newsofbahrain.com

The Cabinet yesterday announced the launch of a new housing financial scheme to benefit the Bahraini citizens.

The new programme, known as ‘Tas’heel Affordable Housing Solutions’, is in line with the comprehensive development goals set by His Majesty King Hamad bin Isa Al Khalifa and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to develop innovative housing solutions in collaboration with the private sector.

Chaired by HRH Prince Salman, the Cabinet highlighted the importance of providing suitable housing and efficient services for citizens. The new scheme will feature three financing options, including ‘Tas’heel Aqari’, ‘Tas’heel Al Bait Al Oud’, and ‘Tas’heel Ta’awon’, as well as the launch of a new category of the ‘Mazaya Social Housing Scheme’ along with the previous version of Mazaya.

The new housing finance scheme will raise the minimum and maximum credit limits, as well as the housing finance ceilings, which citizens may receive direct support from the government on. Following a memorandum submitted by the Government Executive Committee, the Cabinet directed the Minister of Housing and Urban Planning to outline the process for citizens to access the new housing finance scheme.

Royal directive

HRH Prince Salman reviewed the implementation of his directive to assess flood-related damage, compensate those affected by the rainfall in Al Lawzi, and follow up on the steps taken to develop sustainable infrastructure solutions in the area.

HRH the Crown Prince and Prime Minister commended the swift efforts of the relevant ministries and authorities in this regard, which were included in the memorandum submitted by the Minister of Works.

His Royal Highness directed the relevant ministries and authorities to follow up on the needs of the Kingdom’s governorates during Ashura. In this regard, HRH the Crown Prince and Prime Minister took note of the meeting between the Minister of Interior, the General Authority of Husseini Processions, and heads of Husseiniyas in the Kingdom. The Cabinet also discussed several memorandums.