Bahrain launches new housing finance schemes

Bahrain launches new housing finance schemes

Bahrain's Ministry of Housing and Urban Planning has launched its new housing finance programmes which aim to increase the number of beneficiaries.

The programmes had been earlier approved by Cabinet, a Bahrain News Agency report said.

Speaking during a press conference, Minister of Housing and Urban Planning Amna bint Ahmed Al Rumahi said the government is committed to continue efforts in formulating innovative housing solutions for citizens, in line with the comprehensive development plan led by His Majesty King Hamad bin Isa Al Khalifa.

She explained that the new housing financing programmes are part of the ministry’s plans to implement the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to increase the beneficiaries of the 'Mazaya' housing programme by an additional 500 this year, along with the introduction of more financing options for housing services.

Al-Rumaihi stated that the ministry is introducing new financing programmes in cooperation with the Eskan Bank and several other banks.

She said that the new programme named “Tas’heel”, will provide three different financing options: Tas’heel Aqari, Tas’heel Al Bait Al Oud and Tas’heel Ta’awon, adding that the ministry has also added new features to the 'Mazaya' programme, on top of providing