Manama: As part of the implementation of the directives of His Majesty King Hamad bin Isa Al Khalifa to accelerate housing projects to deliver 50,000 new housing units, Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning and Chairperson of Eskan Bank's Board of Directors, held an expanded meeting with heads and representatives of property development companies and commercial banks in Bahrain.
According to Bahrain News Agency, the meeting discussed means to expand cooperation to provide social housing services and diversify housing and financing options in line with citizens' needs, within the framework of enhancing the partnership of the public and private sectors.
Minister Al Rumaihi emphasised the government's commitment, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to enhancing partnership with the private sector as part of its sustainable development strategy under the Government Plan (2023-2026). She noted that this approach supports stability in the real estate sector, expands housing and financing options, and improves the quality and speed of housing services.
The Housing Minister underscored that housing finance programmes and the Government Land Rights Development Programme are central to social housing policy, offering more flexible options and significantly reducing waiting times.
She also highlighted updates to the Tumooh programme, describing it as a strategic pathway supporting apartment ownership by offering flexible financing that allows citizens to own homes suited to their current means, with options to upgrade in the future.
Minister Al Rumaihi noted that the Government Land Rights Development Programme has accelerated project delivery by partnering with developers to utilise government land, providing high-quality housing at subsidised prices. The success of completed projects under the programme supports plans to expand it further.
Regarding the off-plan sales programme for projects under the Government Land Rights Development Programme, the Housing Minister highlighted the positive results achieved by the initiative. The programme allows property developers to sell units in projects once the tender award process is completed, contractual and technical arrangements are finalised, and the developer opens reservations.
She noted that the programme benefits both citizens and developers, as it enables citizens to select the location of their unit early and secure housing finance in advance as soon as the unit is reserved. This provides greater flexibility in financing for developers to build the units and allows them to begin marketing the project early, giving them sufficient assurance to sell units before construction is complete.
Minister Al Rumaihi also highlighted the success of the programme after launching the first off-plan project, Danat Sanad, which consists of 47 housing units and is implemented under the Government Land Rights Development Programme.
Regarding the Private Land Development Rights Programme, she said that the programme aims to support property developers in Bahrain to increase the number of housing projects at prices that match the value of the housing finance available to citizens. She confirmed that the first housing projects under this programme will begin soon, creating opportunities for the private sector to contribute to the delivery of quality housing and enhancing the range of options available to citizens.
The Housing Minister added that the programme marks a new phase of government support for private sector companies to provide projects targeted at social housing, at prices aligned with citizens' housing finance, thereby helping to increase the housing stock.
She emphasised that partnership programmes with the private sector provide an economic boost, stimulating the property market and enhancing the role of the financial and banking sector, turning social housing from a basic service into a key contributor of comprehensive development.
On his part, Ahmed Abdulaziz Al Khayat, CEO of the Urban Planning and Development Authority, outlined the role of urban planning in supporting these partnerships by expediting plan approvals and ensuring construction integration, and highlighted the authority's achievements in planning all regions of the Kingdom in recent years.
Abdulla Taleb, General Manager of Eskan Bank, said the bank continuously updates the banking sector on new financing programmes, policies and plans to accelerate the disbursement of funds to citizens. This also applies to the facilities provided to property developers. He also referred to the digital services offered through the Baity (My House) real estate platform, which continues to see an increasing number of property projects and banking offers, aiming to provide the necessary support for citizens.
The meeting concluded with property developers and bank representatives underlined the importance of ongoing direct communication with the ministry and intensifying joint work to introduce innovative initiatives that meet national housing aspirations. They agreed to continue coordination meetings to achieve the desired goals.