H.E. Ms. Amna Bint Ahmed Al-Rumaihi, Minister of Housing and Urban Planning "In implementing the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, By expanding the Government's land development rights programme, the Ministry has worked to provide a package of government land. To include them in a timeline for implementation by real estate developers in the Kingdom of Bahrain, with a view to expanding options for providing housing services to citizens.
Minister Al-Rumaihi said that the Government Land Development Rights Programme provides promising opportunities to strengthen the public-private partnership in the provision of housing services to citizens, noting the positive results of the evaluation of the programme's first phase, represented in the project "Suhail" housing in the suburb of Luzi, which witnessed a high turnout by citizens, resulting in the sale of all project units to citizens benefiting from the housing finance programme.
This came when His Excellency the Minister of Housing and Urban Planning attended the workshop organized by the Ministry and the Housing Bank on the developments of the government land development rights program in partnership with the private sector, in the presence of a number of officials of the relevant ministries and government bodies, real estate development companies and contracting companies, and a number of banks and commercial banks in the Kingdom.
The Minister also noted the continuation of the introduction and establishment of bidding for the projects included in the programme. referring to the progress of work on the project to provide 131 housing units in Salman, Which is implemented by Delmon Gate Real Estate Company, and the project proceeds according to the schedule prepared for its implementation, as well as the establishment of bids for the Al-Baheer project and the Hurwa Sanad project s projects before the end of this year.
The Minister commended the turnout of real estate developers in putting forward the bidding for the implementation of the projects included in the program s outputs, reflecting the high awareness of private sector organizations of the programme's outputs, As one of the pathways towards the sustainability of the social housing sector in the Kingdom In particular, the programme is a major supporter of the path of providing immediate housing solutions to citizens, Representative in the Housing Finance Programme, which provides flexible and diverse financing solutions without waiting periods.
The workshop witnessed a number of presentations by the Ministry concerning the developments of the Government Land Development Rights Programme since its inauguration, the development procedures that the programme has witnessed provide the necessary flexibility for the implementation of projects by real estate developers, as well as the review of the special procedures for the qualification of contractors for the implementation of the programme in accordance with the programme's criteria.
The Housing Bank also gave a presentation on the most important developmental aspects of the platform. Betty Real Estate, launched last February during the third edition of the Housing Finance Fair, The platform's services and features were reviewed for developers to showcase their projects The mechanism for placing the project units of the Government Land Development Rights Programme before citizens wishing to take advantage of them through this platform; In addition to the solutions currently being worked on to further develop the platform to provide greater flexibility and diversification of real estate options for future citizens to benefit from the housing finance programme.
In a related context, the Real Estate Regulatory Corporation made a presentation on the most prominent actions and facilities offered to support the implementation of real estate projects in the Kingdom, in particular the projects of the Government Land Development Rights Programme, and the programmes provided by the Labour Fund "Empowerment" were reviewed to strengthen the capacities of enterprises, particularly those related to the real estate sector to implement housing projects.
Al Salam Bank also reviewed its experience in providing financing to companies for the implementation of the projects of the program, and the Bank's emerging insights and financing policies to keep pace with the new trends in the growth of the real estate and housing sector in the Kingdom. Bahrain and Kuwait Insurance Company also gave a presentation on the mechanism for providing insurance and bonds for the projects being implemented, which provide the necessary guarantees for companies to implement housing projects.
The workshop saw an extensive discussion among all parties on current and future policies and perspectives for the implementation of the Government Land Development Rights Programme projects in various governorates of the Kingdom and ways to expand the implementation of these projects, in line with the Government's plans to provide housing services and citizens' aspirations for adequate housing.
