Bahrain announces record $2bln housing budget for 2025-2026
In a landmark move, Bahrain's government has allocated BD800 million ($2.1 billion) for housing projects and services – the largest budget in the nation's history since the introduction of this sector, reported BNA.
The announcement was made during a high-level government-legislative meeting yesterday (March 9) at the National Assembly Complex in Gudaibiya, where officials discussed key priorities for the upcoming national budget 2025-2026.
Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa led the government's delegation while National Assembly and Parliament Speaker Ahmed Al Musallam and Shura Council Chairman Ali Saleh Al Saleh headed their respective chambers.
The government team also reviewed several ministerial priorities and projects proposed for inclusion in the state budget. These include ensuring the sustainability of housing services for citizens and reducing waiting lists by providing immediate access to housing services in partnership with the private sector.
Additionally, the government team outlined initiatives to strengthen the education sector by enhancing the role of Bahraini professionals, developing curricula and educational services, and continuing infrastructure projects. These include building new schools in expanding residential cities, reopening historic schools, and constructing academic facilities within schools.
Shaikh Salman stressed the significance of the unprecedented investment, asserting that ensuring sustainable housing services for citizens 'is a top priority for the government'.
"The BD800 million budget aims to address one of Bahrain's longstanding challenges – housing demand," he stated.
"By streamlining service delivery and working closely with private developers, the government seeks to minimise waiting times and provide immediate solutions to those in need," he noted.
Shaikh Salman noted the importance of building on the cooperation between the executive and legislative authorities in various projects that benefit the Kingdom and citizens, including the 2025-2026 state budget.
The minister highlighted the importance of consultations between the two authorities in shaping the next phase, reinforcing Bahrain's position across various sectors, achieving economic growth, and improving living standards for citizens by providing them with promising opportunities.
The minister also emphasised the importance of enhancing cooperation to reach an agreement on the state budget that aligns with citizens' aspirations.
During the meeting, the government team underscored its commitment to ensuring that the 2025-2026 state budget serves the interests of the nation and citizens by maintaining positive economic growth while achieving financial sustainability objectives.
This aims to enhance development efforts, create new opportunities for citizens, and optimise support allocation for those in need.
Housing and Urban Planning Minister Amna Al Romaihi revealed last month that there are 47,600 families waiting for housing services and homes across the kingdom.
Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
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