Engineer Basem bin Yaqoub Al-Hamr, Minister of Housing, announced that the volume of housing finance during the year 2020 amounted to about 19 million Bahraini dinars, from which more than 600 citizens benefited. Adequate housing, which is in line with the visions of His Majesty King Hamad bin Isa Al Khalifa, the beloved monarch of the country, may God protect him, regarding the acceleration of citizens' access to housing services, in line with the housing obligations contained in the government program.
The Minister of Housing explained that housing provided 378 construction financing services with a value of 9,950,250 dinars, 150 purchase financing services with a value of 7,522,000 dinars, and 74 repair financing services worth 1,303,250 dinars. He stressed that the Ministry of Housing aims to develop financing and housing solutions that provide various and immediate options for the Bahraini citizen who benefits from housing services, as the financing services are based on a simplified system, especially with regard to the easy payment process that takes into account the income of each individual separately.
The "Al-Hamar" also explained that the purchase or construction financing, the highest of which reaches 60 thousand dinars, serves as housing entitlement, while the Mazaya program, which performs the status of housing entitlement, is also a separate housing service represented in the support provided by the ministry by obtaining bank financing Up to 81 thousand dinars, and the applicant pays only 25% of his monthly income, and the esteemed government, through the ministry, is committed to providing government financial support that covers the remaining value of the monthly installments at the participating bank.
As for the restoration service, engineer Bassem bin Yaqoub Al-Hamr indicated that this service is an addition to the housing entitlement, and the highest financial ceiling can be obtained up to 20 thousand dinars. It is also possible to apply for these financing services through the online platform of the Ministry of Housing, which includes all the requirements and standards for the beneficiaries.
