Her Excellency Mrs. Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, confirmed that the “Bayti” real estate platform, the upgraded version of which was launched last February in conjunction with the third edition of the Housing Finance Exhibition, is witnessing a remarkable turnout by citizens wishing to benefit from the financing services provided by the Ministry to beneficiaries, as the number of visitors to the platform reached about 15,700 citizens, during the period from February to July 2024.
The Minister said that the database indicates that the platform is witnessing an increasing monthly growth in terms of the number of users, as a result of the variety of available real estate options at prices that suit the value of housing finance through Tasheel financing and the “benefits of the new category”, which varies between units, plots and apartments distributed in all governorates of the Kingdom of Bahrain, noting that the platform allows great flexibility to view the details, areas and prices of real estate provided by real estate companies in the Kingdom of Bahrain.
According to Minister Amna Al Rumaihi, the number of properties available on the platform has increased as a result of the demand of real estate companies to offer their options on Bayti, as the number of companies exhibiting on the platform increased to 43 companies and real estate agencies providing about 11,580 properties with a total value of 1.3 billion Bahraini dinars.
In terms of utilizing the financing services available through the platform, which citizens can apply for electronically when visiting the platform, the data indicates that the turnout for Tasheel financing through the platform reached 58%, while the turnout for Mazaya financing reached 22%, compared to 20% for Mazaya financing for the new category, indicating that the availability of financing offers by banks participating in the financing programs contributes significantly to the turnout of citizens to benefit from financing services through the platform.
On the other hand, the Minister of Housing and Urban Planning said that the joint team from the Ministry of Housing and Urban Planning and the Housing Bank is currently working on implementing the second phase of the platform's development, which will witness the addition of more interactive features that aim to provide the necessary support to the citizen to choose and reserve the property electronically, and complete the comprehensive transaction to purchase the property through the Ministry's financing directly through the platform, noting that this comes as part of the comprehensive transformation plan implemented by the Ministry to digitize all its services and provide flexibility for citizens to obtain housing as quickly as possible.
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