Engineer Basem bin Yaqoub Al-Hamr, Minister of Housing, announced the volume of housing finance during the first quarter of 2021, as it amounted to more than 8 million Bahraini dinars, from which about 160 citizens benefited. He confirmed that these services come within the framework of the Ministry’s plan to diversify the options before citizens through Facilitating access to housing finance to provide 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 sustainability and acceleration of the provision of adequate housing for deserving citizens, in line with the housing obligations contained in the government program.
The Minister of Housing explained that the Ministry provided 65 purchase financing services with a value of 3,438,000 dinars, 85 building financing services with a value of 4,486,000 dinars, and 10 repair financing services, valued at 81,800 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.
Al-Hamar also explained that the purchase or construction financing, the highest of which reaches 60 thousand dinars, is like housing entitlement, while the Mazaya program, which performs the status of housing entitlement as well, is a separate housing service represented in the support provided by the ministry by obtaining bank financing. It reaches 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 pointed out 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.
