As part of His Majesty King Hamad bin Isa Al Khalifa's executive plan to accelerate housing projects to provide 50,000 new housing units, the Ministry of Housing and Urban Planning has launched the Tas’heel Plus funding. "Tas’heel +", as the latest financing options in collaboration with the participating banks in the housing finance program, indicating that applications for this financing will be accepted from Wednesday, April 23, 2025, in conjunction with the opening of a conference and exhibition "Innovation in the social housing sector", held under the auspices of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and 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 Housing Bank to expand the financing options and housing solutions offered to citizens providing many new features for citizens wishing to receive an immediate financing service to obtain housing, The maximum amount of funding provided by the new option is 91 thousand dinars and noting that citizens with a monthly income of 600 to 1,200 dinars can benefit from this financing option to obtain housing, Funding will be calculated based on the value of the beneficiary's monthly income from the date of application.
On the financing purposes of the programme, the Minister explained that the programme offers the possibility of purchasing a housing unit, apartment or voucher, in addition to providing the option of purchasing and building a voucher, it is helpful that the diversity of the programme's purposes comes within the framework of further diversification of options for citizens to obtain housing services appropriate to their needs, the same 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 the program via the dedicated online service at bahrain.bh national portal. The citizen then communicates with a bank participating in the programme to initiate the procedures for benefiting from the financing, which in turn will provide the citizen with details of the financing plan and payment mechanisms.
The Minister explained that the mechanism of payment of housing finance in all funded banks is divided into two options for the citizen to choose the most suitable for him and based on the value of the calculated instalment plan, where Track 1, which has a maximum funding value of 81 A, refers to the commencement of the deduction of only 20% of the beneficiary's income for a period of 5 years Thus, the deduction rate rises to 25% after 5 years, Up to a maximum of 30% 10 years after the start date of the deduction and until the completion of the full payment for 30 years s salary at the time of application, not by updating the salary value.
She was pleased that the second track, which has a maximum funding of 91 thousand, is similar to the first track. Monthly instalment rates vary, with the first five-year instalment rate starting at 25%. To increase to 30% after 5 years, to end at 35% after 10 years and to pay the remaining 30 years' instalments s desire ", reaffirming that the choice of one of the two tracks is due to the desire of the citizen, Citizens will be provided with the full schedule for the payment of monthly instalments from the beginning of the service and until the payment of the remaining instalments before the payment of funding amounts to citizens.
The Minister indicated that the banks involved in financing the "Tas'heel+" programme National Bank of Bahrain, Bank of Bahrain and Kuwait, Bank of Peace, Bahrain Islamic Bank, Gulf Bank, Al Baraka Bank, in addition to Ahli United Bank, The participating banks will provide citizens with funding the Ministry of Housing and Urban Planning will pay back government support as a provider of the financed bank, In addition to paying the difference between the value of the actual premium of the financing service and the value withheld by the citizen as a government support on a monthly basis.
Her Excellency stressed that the Ministry of Housing and Urban Planning, in cooperation with the Housing Bank, will provide support to citizens to take advantage of the new financing option as well as other available financing options. The finance calculator will be provided through the national portal bahrain.bh to recognize the value of financing and the value of payment, as well as the provision of the telecommunication service available through the Ministry's website www.housing.gov.bh and other assistance features.
The Minister noted that the financing of "Tas'heel+" is a qualitative addition to the financing options offered by the Ministry for obtaining immediate financing for housing, noting that the development and development of housing programmes in partnership with the private sector is part of ongoing endeavours to provide innovative and immediate solutions to housing access.
Virtual Assistant
