Government and private sector partnership to boost investment and provide more housing servcies to citizens

Experts, real estate agents and representatives of real estate development companies have stressed the importance of the two workshops organised by the Ministry of Housing and Urban Planning with heads and officials of banks participating in the Housing Financing Programme, as well as real estate development companies in Bahrain.

Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, and Shaikh Mohammed bin Khalifa Al Khalifa, the Chief Executive Officer of the Real Estate Regulatory Authority (RERA), in addition to senior officials from the Central Bank of Bahrain (CBB), the Housing and Urban Planning Ministry, the Urban Planning and Development Authority (UPDA) and Eskan Bank, attended the workshops devoted to discussing opportunities to improve government-private sector partnership in providing housing services to the citizens.

The participants and companies’ representatives indicated that the implementation of more projects under the Government Land Development Programme will enable the private sector to provide more housing units to the beneficiaries of the housing financing schemes.

They also lauded the forthcoming Housing Finance exhibition, given its important role in showcasing the projects offered to the citizens.

In statements to the Bahrain News Agency (BNA) on the sidelines of workshops, they affirmed the feasibility of the government’s visions regarding policies and plans to achieve sustainability and provide housing services to citizens, in accordance with the goals of the social housing initiatives to be launched by the Housing and Urban Planning Ministry, based on the visions of His Majesty King Hamad bin Isa Al Khalifa, and the follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to achieve the citizens’ aspirations and enhance the kingdom’s progress, under the HM the King’s comprehensive development process.

In this regard, Mohammed Fateel, Al Janabiya Gate Real Estate office owner, praised the workshops held by the Housing and Urban Planning Ministry on social housing.

He hailed the Housing Minister’s constant keenness to communicate with real estate offices to agree on the best ways to develop the real estate sector in the kingdom, noting that the Ministry’s plans to strengthen partnership with the private sector through the Government Land Development Programme will create more investment opportunities and provide more housing solutions to the citizens.

Mohammed Al Jawad, CEO of “Domains Real Estate” Company, expressed pride in participating in the Housing Finance Exhibition which reflects the Housing Ministry’s support for initiatives aimed at providing decent living for the citizens, noting that he is looking forward to participating in the next edition of the expo, which will be held at City Centre Mall. He also lauded the Housing Ministry’s new work strategy based on involving all stakeholders in providing housing services to the citizens.  

Ahmed Mansoor, owner and CEO of Union Properties Company, lauded the ongoing open communication between the Housing Ministry and the private sectors, noting that real estate developers and investors expect future steps that would streamline the process of selling real estate to the citizens, fast-track real estate transactions and increase the residential area in the kingdom.

He expressed hope that the next Housing Finance Exhibition would attract more citizens seeking to receive housing services. He also suggested holding such a workshop every two months to follow up on the latest housing developments.

Taher Al Madhoon, CEO of Ta’aruf Real Estate, said that there had been many important steps aimed at meeting the needs of Bahraini families, citing the initiatives launched in partnership with the private sector to meet the housing needs of the citizens.

He added that the housing sector had flourished over the past few years, as a result of initiatives to provide housing to as many beneficiaries as possible.

Khalil Ibrahim Eid, Director-General of Abraj Bin Eid Real Estate, asserted that the ongoing government-public sector partnership reflects positively on the citizens’ lives, and contributes to the development of the infrastructure of the kingdom, under HM King Hamad’s leadership.

He added that increasing the number of beneficiaries from housing financing schemes and offering more investment lands will serve the citizens and reduce prices.

Ahmed Al Bahrani, CEO of Kayan Real Estate Company, asserted that the remarkable cooperation between the public and private sectors over the past year had contributed to enhancing confidence among the citizens.

He commended the government’s new initiatives aimed at meeting the housing demands quickly, citing the “Tasheel” programme which provides different housing financing options for the citizens.

He indicated that the Housing Finance Exhibition, which will be held in February, will bring together banks and real estate developers under one roof to showcase diverse options for the citizens.

Jassim Mohammed Kadhem, Dar Sultan Real Estate and Contracting Company President, underlined the importance of continuous communication between the public and private sectors regarding housing, adding the upcoming Housing Finance Exhibition will offer new qualitative programmes. He also unveiled intentions to offer housing units at BD 99,000 during the expo.

He also stressed the need to continuously develop the designs of housing units, commensurate with the citizens’ needs, in light of the ongoing competition among real estate companies.


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