Manama, Sep. 22 (BNA): The Ministry of Housing and Urban Planning announced the start of three new projects for reservation in Salman City in collaboration with the private sector under the off-plan sales program, in response to orders from His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to expedite housing projects and provide 50,000 new housing units. The news is made in conjunction with the Social Housing Innovation Conference and Exhibition’s second edition, which will take place from September 29 to October 3.
Housing Ministry announces three new projects in Salman City
The Minister of Housing and Urban Planning, Amna bint Ahmed Al Rumaihi, emphasized that the introduction of 137 new housing units for reservation under the off-plan sales program across the three projects represents a further step toward expanding projects under the Government Land Development Rights Program and boosting the private sector’s contribution to social housing projects. In addition to giving residents more varied and adaptable alternatives for finding adequate homes, this will improve the availability of housing units that are compatible with available housing finance values.
She clarified that the additional units are spread over three Salman City projects being built by several real estate firms. As part of projects under the Government Land Development Rights Program, Naseej Real Estate Development and Al Moayyed Contracting Group will build 24 housing units, Delmon Gate Company will build 69 units, and Bahrain First Real Estate Development Company will build 44 units.
The new projects in Salman City, such as the Suhail projects in Al Lawzi, Al Naseem neighborhood in Salman City, Al Wadi in Al Buhair, and Danat Sanad in Sanad, build on the successful outcomes of private sector partnership projects carried out under the Government Land Development Rights Program, according to Minister Al Rumaihi. Beneficiaries of housing finance programs now have a wider range of real estate possibilities thanks to these projects.
She emphasized that one of the initiatives under the housing stock growth track is the Government Land Development Rights Program. It increases the variety of alternatives and speeds up the delivery of housing services by utilizing the skills and knowledge of real estate developers to create housing projects and units that are suitable with the housing finance available to citizens.
Expanding projects under the program, she continued, demonstrates the value of collaboration with the private sector as a vital partner in the development of the social housing sector and taking advantage of its technical and development capabilities to implement high-quality projects, thereby increasing the supply of housing units and giving citizens more options.
Launching the new projects concurrently with the Social Housing Innovation Conference and Exhibition, according to Minister Al Rumaihi, builds on the experience of the conference’s inaugural edition, which included housing units being made available for direct reservation by residents. According to her, the conference acts as a platform for bringing together different housing system stakeholders, such as government agencies, financial institutions, and real estate developers. This helps transform partnerships and creative solutions into real housing projects and options while increasing the use of digital solutions to make it easier for citizens to find appropriate real estate and financing options.
The minister expressed gratitude to Bahrain First Real Estate Development Company, Naseej Real Estate Development, Al Moayyed Contracting, and Delmon Gate Real Estate Company. She praised the businesses’ technical and engineering know-how, which helps to improve project quality and diversify the housing options for residents.
According to Amin Al Arrayed, CEO of Naseej, the private sector’s involvement in carrying out social housing projects in collaboration with the Ministry of Housing and Urban Planning enhances synergy between the two sectors and helps to give residents more housing options. He reaffirmed the business’s dedication to maintaining its collaboration with the government in this area.
Al Moayyed Contracting’s Executive Director, Hala Farooq Al Moayyed, highlighted the company’s delight in working with Naseej to develop 24 dwelling units in Salman City. She confirmed that the project demonstrates the value of public-private collaboration in assisting the Kingdom’s housing and development initiatives.
The CEO of Delmon Gate Real Estate Company, Abdulla Ali, stated that the company is happy to continue working with the Ministry of Housing and Urban Planning to build 69 housing units in Salman City. He pointed out that the project is the company’s second partnership after the Al Naseem neighborhood project in Salman City, which produced 131 housing units and demonstrated the partnership’s ongoing commitment to expanding the housing supply.
The CEO of Bahrain First Real Estate Development Company, Omar Faisal Al Tamimi, reaffirmed the company’s dedication to enhancing its collaboration with the Ministry of dwelling and Urban Planning by constructing 44 dwelling units in Salman City. He pointed out that the project demonstrates the company’s dedication to helping to provide social housing projects and strengthening the private sector’s role in assisting the Kingdom’s housing development goals.
