The Kingdom of Bahrain’s Housing Minister, Bassem Al Hamer, states that expectations, according to a study made by the ministry, indicate that the ministry will spend BHD1.8 billion on housing projects listed on the ministry’s plan.
The housing projects will include the building of 40,000 housing units, with BHD3.1bn returns on the national economy, Bahrain-based Al Wasat Newspaper reports.
Al Hamer adds that the housing projects that Bahrain is executing currently in new cities and four provinces emphasize the government’s prominent role in its efforts towards achieving citizen’s social stability by providing appropriate houses for them.
He points out that the government focuses on maintaining housing quality standards and choosing the best location for executing housing projects, along with a focus on those projects to enjoy comprehensive services and all main facilities.
The minister confirms that the housing sector in Bahrain, since the activation of the housing plan in 2012, plays a major role in enhancing Bahrain’s national economy, through returns achieved by construction sectors, engineering consultancy, building materials, commercial banks, furniture and others, as all those sectors would be the beneficiaries of the construction of housing projects.
(BHD1 = AED9.75, at the time of publishing)