Latest news with #InnovationSummitintheSocialHousing
Biz Bahrain
24-04-2025
- Business
- Biz Bahrain
Eskan Bank signs agreements with seven banks under Tas'heel+ programme
Eskan Bank signed agreements with seven local commercial banks to provide housing finance services under the Tas'heel+ programme. The agreements were signed during 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, under the theme 'Towards Innovative and Sustainable Housing Solutions.' The agreement brings together Eskan Bank and the following partner banks participating in Tas'heel+ Programme: National Bank of Bahrain (NBB), Bahrain Islamic Bank (BisB), Bank of Bahrain and Kuwait (BBK), Ahli United Bank, Al Baraka Islamic Bank, Al Salam Bank, and Khaleeji Bank. The agreements align with the Ministry of Housing and Urban Planning and Eskan Bank's strategy to expand housing finance options for citizens. The recently launched Tas'heel+ programme offers several new features for citizens seeking immediate housing finance, with a maximum financing amount of BD 91,000. Citizens with monthly incomes ranging from BD 600 to BD 1,200 are eligible, and the financing amount will be determined based on the applicant's income at the time of application. Abdulla Taleb, General Manager of Eskan Bank, emphasised that the agreements reflect ongoing and effective public-private partnerships aimed at providing flexible housing solutions in line with government priorities. He underscored the cooperation of the participating banks and their commitment to supporting Bahrain's housing sector and enhancing citizen welfare. Taleb described the collaboration as a leading model of government–financial sector cooperation to support national objectives and facilitate citizens' access to housing services, contributing to Bahrain's economic and social development. He reiterated Eskan Bank's commitment to developing sustainable and innovative housing solutions that promote family stability and meet citizens' aspirations. He noted that the agreements would enable participating banks to play a greater role in meeting citizens' housing needs and emphasised their commitment to supporting national housing programmes as part of their social responsibility. This would provide flexible homeownership options and support the goals of Bahrain Economic Vision 2030 and the national housing strategy. Taleb underscored the Bank's continued efforts to strengthen cooperation with local banks to advance housing development and support citizens in achieving financial goals and homeownership. He noted that housing stability is a foundation for building prosperous communities and emphasised that advancing the housing sector is a shared responsibility between the housing and banking sectors. BNA(R)
Biz Bahrain
24-04-2025
- Business
- Biz Bahrain
Housing Minister announces new housing programmes during Innovation Summit
Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, announced four new housing programmes aimed at accelerating project implementation and expanding affordable housing options in partnership with the private sector. The announcement was made during the opening of 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. The new programmes support the royal directive to provide 50,000 housing units. The minister introduced the Tamooh (Ambitions) programme, which offers eligible beneficiaries of the 'Tas'heel' and 'Tas'heel +' financing schemes an additional BHD 20,000 ten years after receiving their main housing loan, allowing for future housing upgrades. She also launched the 'Off plan Sales' programme, which allows developers to begin selling housing units before construction is completed, enabling citizens to reserve units early and secure financing in advance. This model is being applied to the 'Hai Al Naseem' project in Salman City and the 'Al Wadi' project in Buhair, both now open for reservations. The 'Private Land Development Rights' programme was also announced, enabling private developers to build housing projects on their own land for citizens benefiting from housing finance, with government support provided for project facilitation and marketing. In addition, the ministry unveiled the second version of the 'Bayti' platform, now featuring online reservation and contract signing, integrated with the upgraded eKey system and a digital financing calculator. The minister confirmed a memorandum of understanding with local and international companies, including Naseej, CMEC, Ritaj, Almoayyed, and WCT Berhad, to construct nearly 3,000 units in Khalifa City, marking the largest development under the government land programme to date. She also announced the start of applications for the new 'Tas'heel +' financing option, which provides up to BHD 91,000 for eligible citizens, with flexible repayment terms tailored to income levels. For more information on the new programmes and available housing options, citizens can visit the ministry's pavilion at the exhibition, which runs until April 25. BNA(R)
