Bahrain Announces BD 1 Billion Investment for New Housing Project | THE DAILY TRIBUNE

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TDT | manama

The Daily Tribune – www.newsofbahrain.com

The Ministry of Housing and Urban Planning yesterday launched the implementation of a plan to create 19,000 housing units over a period of 10 years for one billion dinars.

Making the announcement, Deputy Prime Minister and Minister of Infrastructure, Sheikh Khalid bin Abdulla Al Khalifa, said the plan follows the comprehensive development march of His Majesty King Hamad bin Isa Al Khalifa and HRH Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

The project is part of the government’s land development program, which is among the pioneering projects launched by the government to provide housing to citizens through programs such as ‘Tasheel’ and ‘Mazaya’.

The government’s land investment program was unveiled in April this year, inviting private investors to develop and provide services on more than 230,000 square meters of government-owned land.

The new project, Shaikh Khalid said, follows a successful pilot phase for more than 132 homes built in the Lawzi area. “We hope to hand over these completed units to the beneficiaries in the first quarter of next year,” Shaikh Khalid said during a visit to the Ministry of Housing and Urban Development.

Afterwards, Shaikh Khalid reviewed the developments of the land project and housing finance program and held meetings with ministry partners including bank officials, real estate development companies and real estate brokers.

The Minister told the meeting that the partnership with the private sector has helped provide thousands of services to citizens and paved the way for expanding financing solutions while diversifying and increasing housing options.

The Deputy Prime Minister also honored the leaders and representatives of banks and real estate companies who participated in the housing finance exhibition, organized by the Ministry of Housing and Urban Planning in downtown Bahrain in Beginning of the month. Explaining the new project, Minister Amna bint Ahmed Al-Rumaihi said that out of the 19,000 homes, 6,168 homes and apartments are in Salman town, 3,331 homes in Khalifa town and 3,000 homes in the city. second phase of the Al Ramli suburban housing project.

The ministry, she said, will also develop 6,750 units on the strip of residential buildings in different governorates of the Kingdom. The initial lot includes 131 dwellings and 360 apartments in the town of Salman in addition to 280 dwellings in the town of Khalifa.

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