October 27, Manama (BNA): Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, announced that the ministry has finished preparing to start accepting applications for the Tamooh (Ambitions) program starting next Thursday. This is in accordance with directives from His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to lower the maximum monthly installments for beneficiaries of the Mazaya program by increasing the government’s financial support and to direct the ministry to diversify housing options and solutions that satisfy citizens’ aspirations.
Housing Minister announces online applications for Tamooh, lower Mazaya instalment limit
Minister Al Rumaihi thanked His Majesty King Hamad bin Isa Al Khalifa for his ongoing support of the social housing sector and HRH the Crown Prince and Prime Minister for their directives to create housing programs and services and increase the number of options available to citizens, thereby promoting social stability and providing Bahraini families with suitable housing.
According to the Housing Minister, residents who want to take advantage of the Tamooh program can apply through the ministry’s website or the government e-portal. She pointed out that the program enables recipients of Tas’heel and Tas’heel+ financing, as well as prior recipients of financing for buying ownership flats, to get an additional BHD 20,000 in government-subsidized financing in order to relocate to a larger property.
In reference to the program mechanism, she stated that Tamooh, which was first introduced at the Innovation Summit in the Social Housing Sector in April, allows recipients of Tas’heel and Tas’heel+ financing to apply for an additional subsidized financing of BHD 20,000 ten years after the date of their primary financing if they want to sell their apartment and buy a larger property that suits their needs.
The eligibility requirements, she continued, are Bahraini nationality, being under 60 at the time of application, earning between BHD 600 and BHD 1,200 per month, and not having previously benefited from home renovation financing. Additionally, participating banks have fixed the monthly installment at a maximum of 25% of the beneficiary’s salary.
Minister Al Rumaihi added that, if they meet the requirements, citizens who had previously benefited from the ownership apartment purchase service prior to the Tas’heel program’s launch may also apply electronically through the ministry’s website or the government e-portal to receive Tamooh benefits.
The decision to lower the maximum monthly deduction for supporting the Mazaya program was also announced by the Housing Minister. In collaboration with the funding banks, the sum has been lowered by BHD 100, resulting in BHD 427 rather than BHD 527. She clarified that in order to make up the gap caused by this reduction, the ministry has set aside an extra budget. As a result, the total amount of government funding allotted to the Mazaya program for the repayment term is around BHD 825 million. The November installment will mark the beginning of the new mechanism’s gradual implementation.
She emphasized that the ministry pays special attention to citizens whose monthly income has changed as a result of early retirement or uncontrollable circumstances, modifying the deduction value in these situations to guarantee the stability of the beneficiaries’ standard of living.
In a related vein, the Housing Minister announced the introduction of three new digital services via the Baity (My House) real estate platform: an electronic property booking service in collaboration with the Housing Bank; a digital property valuation service to expedite and streamline valuation procedures; and a digital application tracking feature to track the progress of housing applications from submission to financing.
These actions, according to Minister Al Rumaihi, build on the ministry’s and Eskan Bank’s efforts to develop the platform since its launch last year by adding new features that enhance access to housing services and increase financing options, giving citizens more flexibility and ease in selecting suitable housing.
