As part of His Majesty King Hamad bin Isa Al Khalifa'sexecutive plan to accelerate housing projects to provide 50,000 new housingunits, the Ministry of Housing and Urban Planning has launched the Tas’heelPlus funding. "Tas’heel +", as the latest financing options incollaboration with the participating banks in the housing finance program,indicating that applications for this financing will be accepted fromWednesday, April 23, 2025, in conjunction with the opening of a conference andexhibition "Innovation in the social housing sector", held under theauspices of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Princeand Prime Minister of the Council of Ministers, from April 23 to 25.
Her Excellency Ms. Amna bint Ahmed Al-Rumaihi,Minister of Housing and Urban Planning, said that funding "Tas’heel+" comes within the framework of the plan of the Ministry and the HousingBank to expand the financing options and housing solutions offered to citizensproviding many new features for citizens wishing to receive an immediatefinancing service to obtain housing, The maximum amount of funding provided bythe new option is 91 thousand dinars and noting that citizens with a monthlyincome of 600 to 1,200 dinars can benefit from this financing option to obtainhousing, Funding will be calculated based on the value of the beneficiary'smonthly income from the date of application.
On the financing purposes of the programme, theMinister explained that the programme offers the possibility of purchasing ahousing unit, apartment or voucher, in addition to providing the option ofpurchasing and building a voucher, it is helpful that the diversity of theprogramme's purposes comes within the framework of further diversification ofoptions for citizens to obtain housing services appropriate to their needs, thesame policy as all other financing options provided by the Ministry.
With regard to the working mechanism of the "Tas'heel+"programme,the Minister stated that the citizen's procedure begins by applying for theprogram via the dedicated online service at bahrain.bh national portal. Thecitizen then communicates with a bank participating in the programme toinitiate the procedures for benefiting from the financing, which in turn willprovide the citizen with details of the financing plan and payment mechanisms.
The Minister explained that the mechanism of paymentof housing finance in all funded banks is divided into two options for thecitizen to choose the most suitable for him and based on the value of thecalculated instalment plan, where Track 1, which has a maximum funding value of81 A, refers to the commencement of the deduction of only 20% of thebeneficiary's income for a period of 5 years Thus, the deduction rate rises to25% after 5 years, Up to a maximum of 30% 10 years after the start date of thededuction and until the completion of the full payment for 30 years s salary atthe time of application, not by updating the salary value.
She was pleased that the second track, which has amaximum funding of 91 thousand, is similar to the first track. Monthlyinstalment rates vary, with the first five-year instalment rate starting at25%. To increase to 30% after 5 years, to end at 35% after 10 years and to paythe remaining 30 years' instalments s desire ", reaffirming that thechoice of one of the two tracks is due to the desire of the citizen, Citizenswill be provided with the full schedule for the payment of monthly instalments fromthe beginning of the service and until the payment of the remaining instalmentsbefore the payment of funding amounts to citizens.
The Minister indicated that the banks involved infinancing the "Tas'heel+" programme National Bank of Bahrain, Bank ofBahrain and Kuwait, Bank of Peace, Bahrain Islamic Bank, Gulf Bank, Al BarakaBank, in addition to Ahli United Bank, The participating banks will providecitizens with funding the Ministry of Housing and Urban Planning will pay backgovernment support as a provider of the financed bank, In addition to payingthe difference between the value of the actual premium of the financing serviceand the value withheld by the citizen as a government support on a monthly basis.
Her Excellency stressed that the Ministry of Housingand Urban Planning, in cooperation with the Housing Bank, will provide supportto citizens to take advantage of the new financing option as well as otheravailable financing options. The finance calculator will be provided throughthe national portal bahrain.bh to recognize the value of financing and thevalue of payment, as well as the provision of the telecommunication serviceavailable through the Ministry's website www.housing.gov.bh and other assistancefeatures.
The Minister noted that the financing of "Tas'heel+"is a qualitative addition to the financing options offered by the Ministry forobtaining immediate financing for housing, noting that the development anddevelopment of housing programmes in partnership with the private sector ispart of ongoing endeavours to provide innovative and immediate solutions tohousing access.
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