In implementation of the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, may God protect him, regarding diversifying housing options and solutions to achieve citizens' aspirations, Ms. Fatima Ibrahim Al-Mannai, Undersecretary of the Ministry of Housing and Urban Planning, announced the start of accepting applications to benefit from the funding of the "Ambition" program recently launched by the Ministry, starting today, Thursday, noting that submitting applications is available electronically via the e-Government Portal website And the website of the Ministry of Housing and Urban Planning.
Fatima Al-Mannai explained that citizens who meet the criteria for benefiting from the "Ambition" program can submit applications electronically and immediately, noting that the program criteria stipulate that the applicant must be of Bahraini nationality, and that the applicant must not be over 60 years old at the maximum time of submitting the application, in addition to the beneficiary's income criterion, which starts from 600 dinars and a maximum of 1200 dinars, and that he must be a beneficiary of one of the financing options "Tasheel" and "Tasheel+" Or previous beneficiaries of purchase financing, provided that the purpose of benefiting from those financing is to purchase an ownership apartment, in addition to the fact that the beneficiary has not previously benefited from restoration financing or the security system in force at the Housing Bank.
The Undersecretary of the Ministry of Housing and Urban Planning said that an ambitious program represents a favorable opportunity for citizens to gradually own real estate, as its idea is based on giving citizens who benefit from the "Tasheel" and "Tasheel+" financing an additional option, which is to benefit from an additional financing amount from the "Tasheel" program options worth 20 thousand Bahraini dinars after ten years from the date of benefiting from the main financing to purchase the apartment This is in the event that beneficiaries wish to sell the residential apartment and obtain a larger property that suits their needs.
Al-Mannai pointed out that one of the advantages of this program is the stability of the monthly installment of additional financing that is provided after 10 years, as the value of the monthly deduction amounts to 138 dinars, which is paid over a period of 15 years only, noting that the value of the financing is supported by the government.
The Undersecretary of the Ministry of Housing and Urban Planning confirmed that the Ministry will work in cooperation with the Housing Bank to provide means of support for citizens to benefit from the "Ambition" program, by providing financing consultations available through the Ministry's website, or through mobile branch initiatives organized by the Ministry periodically in various governorates, noting that all information and standards related to the program and the financing calculator are available through the national portal website bahrain.bh
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