An ambitious plan to construct 19,000 housing units worth BD1 billion across the kingdom over the next 10 years has been launched.
The Housing Ministry will implement the scheme in partnership with the private sector.
Deputy Prime Minister and Infrastructure Minister Shaikh Khalid bin Abdulla Al Khalifa unveiled the massive plan yesterday as he visited the Housing Ministry headquarters.
A total of 6,168 housing units will be constructed in Salman Town, 3,331 units in Khalifa Town and 3,000 in the Al Ramli suburb.
The remaining 6,750 units will be constructed in the vicinity of the residential buildings strip in different locations across Bahrain.
The Deputy Premier asserted that the plan supports the goals of the comprehensive development march, led by His Majesty King Hamad, and followed up by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, noting that it is in line with the Bahrain Economic Vision 2030 and the Sustainable Development Goals (SDGs).
The plan comes within the framework of the Government Land Development Rights Programme, which was launched in partnership with the private sector, to provide housing units for citizens benefiting from ‘Tasheel’ and ‘Mazaya’ – social housing financing solutions launched by the ministry.
A total of 132 units have already been constructed at Al Louzi area as part of the experiment phase of the Government Land Development Rights Programme.
“The units are expected to be handed over to their beneficiaries during the first quarter of 2023,” said the Deputy Premier who was welcomed by Housing Minister Amna Al Romaihi.
Under the first phase, 131 housing units and 360 apartments will be constructed in Salman Town, in addition to 280 units in Khalifa Town.
Shaikh Khalid stressed that positive outcomes of partnership initiatives with the private sector, and their contribution, over the past years, to providing services to citizens, have paved the way for expanding financing solutions while diversifying and increasing the options of housing units.
He praised real estate development companies’ readiness to participate in the ministry’s efforts to provide housing units for citizens, at a value that matches the housing financing options.
During the visit, Shaikh Khalid honoured presidents and representatives of banks, financial institutions and property development companies which took part in the Housing Finance Exhibition at City Centre Bahrain earlier this month.
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