Amna Al Romaihi, Minister of Housing and Urban Planning, confirmed that the partnership between the government and the private sector has effectively provided thousands of housing services to the population in a short period of time, especially since the launch of the housing finance program. and confirmed the feasibility of the government’s vision for sustainable housing services. This comes as the Ministry of Housing and Urban Planning held two workshops with bank presidents and real estate developers to discuss opportunities to improve government-private partnerships on housing services.
Shaikh Mohammed bin Khalifa Al Khalifa, Chief Executive of the Real Estate Regulatory Authority (Rera), attended the workshop. Since the launch of the housing finance program in 2022, the ministry has received more than 9,000 applications for “Taseer” loans and new categories of benefits, with 80% of applicants becoming applicants. Citizens are shifting their housing applications from traditional services to financing options. The ministry immediately responded to more than 60% of these applications to meet the program’s goals, the minister added.
Ms. Al Romaihi said that the involvement of banks in housing finance programs has significantly accelerated the delivery of housing services to the population through the provision of government-subsidized loans through “facilitation” programs and “new category advantages.” Stated. Fees for citizens to avail ‘Taseer’ loans through banks provided them with more diverse housing options. This allows you to choose the entity that suits you with the same benefits. Ms Al Romaihi highlighted the progress made in the government’s land development programme, particularly the ‘Suhail’ housing project.
The project, which will provide 132 homes, is 93% completed. The Ministry plans to expand the implementation of this program, following the instructions of His Highness Crown Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and has prepared a program to implement eight additional projects. There is. The ministry signed contracts for 131 new housing units. in Salman City in partnership with Delmon Gate Real Estate Company. The minister said the program also includes supporting the national economy through bidding for projects in Buhair and Sanad, diversifying supply and increasing the volume of real estate transactions. This initiative will provide thousands of housing services to the people, contribute to diversification and support the national economy.
CEO Lela praised the Ministry’s efforts and modern housing initiatives, especially the success of the “Suhail Housing” project, and emphasized the importance of public-private partnerships in providing housing to the people. He praised the department’s financing options, which offer competitive interest rates and flexible payment terms for immediate housing.
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