The Ministry of Housing and Urban Planning signed a memorandum of understanding (MoU) with Bareeq Al Retaj Real Estate Services, as part of the executive plan to implement the directives of His Majesty King Hamad bin Isa Al Khalifa to accelerate the provision of 50,000 new housing units.
The MoU covers the allocation of plots in the Ras Hayan Village project in the Southern Governorate and ownership flats in the Wahat project in Qalali, Muharraq Governorate, at preferential prices for beneficiaries of the housing finance programme.
Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, highlighted that the agreement aligns with preparations for the Innovation Summit in the Social Housing Sector, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, from April 23-25 at Exhibition World Bahrain.
She commended Bareeq Al Retaj’s efforts in offering housing projects across the Kingdom of Bahrain and its commitment to partnering with the public sector in delivering real estate projects that align with the value of housing finance options available to citizens.
Minister Al Rumaihi noted that the next phase will see increased public-private cooperation to expand housing projects across all governorates, providing citizens with more flexibility in choosing the type, location, and size of housing services that meet their needs.
Yousif Mohamed Bucheeri, CEO of Bareeq Al Retaj Real Estate Services, commended the ministry’s efforts to provide housing services and enhance public-private partnerships to expand housing options for programme beneficiaries.
He emphasised the company’s continued commitment to supporting the ministry in increasing the availability of housing projects and units across the Kingdom.
He added that the company will showcase housing options during the summit, including the Ras Hayan and Wahat projects, with units offered at prices suited to the housing finance scheme.
He invited exhibition visitors to explore the company’s offers.
The Innovation Summit in the Social Housing Sector will bring together local, regional, and international stakeholders to discuss innovative designs, construction technologies, and private sector investment opportunities in social housing.
It will also feature sessions on integrating community needs into housing programmes, enhancing legal and regulatory frameworks, and optimising land use to develop sustainable urban communities.
Ministers and officials from Bahrain and abroad, as well as international social housing experts, will take part in the event.
The summit will feature over 30 pavilions representing government entities, commercial banks, and real estate developers, offering projects available under the housing finance programme.
BNA(R)
