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Housing financing … the cornerstone of a decent life

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Amid the accelerated urban movement and the growing aspirations of citizens, Bahrain is moving firmly towards achieving housing justice through “facilitation”, “facilitation+” programs, “advantages” and “advantages of the new category” launched by the Ministry of Housing and Urban Planning. These programs are not just financing solutions. Rather, it has become a mirror of a national vision that is consistent with the directives of His Majesty King Hamad bin Isa Al Khalifa, the king of the country. Digital transformations prove that intellectual transformation since 2022, as the number of acceptable requests exceeded 10,000, of which 2,584 during the first half of this year. The transfer rate from the waiting list to the immediate financing reached 82%, in an achievement that reveals a new approach in the management of housing service, based on efficiency, justice and transgressing bureaucracy, which restores confidence to the citizen in the effectiveness of government initiatives, and proves the approach to innovation, change and development. Scientific studies have taken the subject of housing and its impact, including what was mentioned in the World Health Organization guide for the year 2018, and studies published through global platforms confirming The housing is inseparable from mental health. The overcrowding, poor ventilation, and lack of privacy are factors that lead to increased stress, anxiety and behavioral disorder, especially in children. On the other hand, the stable housing provides space for calm, recovery and healthy family communication, which is supported by the results of a scientific study confirming the monitoring of improving the residential environment and reducing depression and anxiety rates by more than 40%. The world is full of creative experiences, and there are inspiring experiences that prove that solutions are possible and not impossible, there are many experiences that are considered a global model in solving the housing crisis, as the percentage of the housing has increased Holding from 29% to 91% in five decades in Singapore, thanks to the studied government financing. In the United States, houses were available at reasonable prices while maintaining the ownership of the Earth for future generations. As for India, it has created low costs and in record time. These models teach us that innovation and political will are enough to change the social equation. It is not possible to talk about these achievements without referring to the relevant efforts made by His Excellency Mrs. Amna bint Ahmed Al -Rumaihi, Minister of Housing and Urban Planning, which put the housing file on top of its priorities as one of the most complex and most related national files related to the quality of life and social stability. It has led a radical transformation in the mechanisms of providing service, and has succeeded in formulating flexible and innovative programs that are compatible with various segments of society, supported by strategic partnerships with the private sector, to provide various options that meet the needs of the Bahraini citizen of different circumstances, and despite the tangible progress, the review of bank benefits on the first housing has become an urgent necessity. Reducing the material burdens on Bahraini families, especially in the foundation stage, gives them an opportunity for economic balance and social stability, as hope is always with reviews and options that provide more facilities, with the intention of serving people as a priority and not for the sake of achieving returns and profits. The Ministry of Housing and Urban Planning has succeeded in building an effective cooperation system with commercial banks and real estate development companies, which resulted in exclusive offers and speed in Procedures, and an increase in real estate supply in proportion to the value of funds. This integration represents a leading economic and social model worthy of the Bahraini citizen. The house is the beginning of a story of life, stable, generous, and fruitful.

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