Housing Minister Bassim bin Yaqoub Al-Hammer said that the Ministry has launched the third phase of the affordable social housing financial plan.
The Customer Service Centre at the Ministry began to receive citizens applications according to the new criteria of this phase.
The Minister pointed out that there has been noticeable increase in the number of applications received since the first pilot phase was launched last October under the auspices of Deputy Prime Minister Shaikh Khalid bin Abdullah Al Khalifa.
Al-Hammer added that in view of the attraction of lots of applications seen in the second phase of this scheme, the Ministry decided after conducting the necessary studying to launch the third phase of the programme of affordable social housing financing. It is anticipated to attract more applications as there is a large number of interested citizens who would like to avail of this plan although the lower limit of salary may prevent the acceptance of these applications. According to the statistics of the second phase, there are 1179 citizens eligible to benefit from this programme. Many more applications may come in future with the launching of the third phase.
He expressed his delight at the positive outcomes which the social housing financing programme could accomplish in just one year since it had been launched.
He said the plan does not confine itself to serving housing beneficiaries only, but in fact serves the Kingdom's real estate and banking sectors as citizens can obtain their dream home with financing from the private sector banks as well as from the Government which provides support to their installment payment which in turn boosts the cycle of economic and property development hence the national economy.
Source: BNA