Bahrain announces Mazaya social housing scheme
Bahrain Ministry of Housing announced that Mazaya social housing financing for the kingdom citizens determined by the minimum salary in BD500.
Mazaya program is social housing finance scheme. The program’s main aims to assit those on social waiting list to get financed by a financial institute as well as to obtain a governmental financial support to purchase a housing unit.
The ministry said that there had been an overwhelming response for its new scheme from the citizens with large numbers of people swarming the ministry headquarters for getting more updates and seeking applications.
The ministry has received many queries ever since the newlook Mazaya programme was announced and its application activated on March 1. Under the newlook format, the maximum age of beneficiaries has been raised from 35 to 50 years and the minimum and maximum salary of the beneficiary is set at between BD500 to BD1500.
The new Mazaya programme is being implemented by the Ministry of Housing along with Kuwait Finance House Bahrain. The government made amendments following proposals and requests from citizens to raise the maximum age to include more people into the scheme besides diversification of funding options provided by the programme.
Source: Trade Arabia