Latest Bahrain News
New ambitious housing scheme for 2009-14 approved
The smart technology blueprint, a multi-million dinar plan to build thousands of housing units, was approved by His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, who chaired the weekly cabinet meeting at Gudaibiya Palace.
The Prime Minister appreciated His Majesty King Hamad for approving the provisions to finance this ambitious scheme for 2009-2014.
The Chairman of the Economic Development Board, H.H. Crown Prince Salman bin Hamad Al Khalifa, also gave the nod for the plan, while Shaikh Ahmed bin Ateyatala Al Khalifa, the Cabinet Affairs Minister, said that the government will finance the project by seeking a loan of BD250mn.
The plan will see construction of 14,000 new housing units. A total of 10,000 units will be built next year using smart technology procedures in two phases.
Thereafter, 1500 housing units will be built in partnership with private developers, making the first phase of the Northern Town. Detailed plans of the project are yet to be chalked out by Housing Ministry.
His Majesty the King, has ordered an additional BD18mn to benefit pensioners and the housing renovation scheme, following a parliament request. The MPs therefore, yesterday passed an urgent additional budget for 2009-10.
Out of the BD18mn approved by His Majesty, BD13mn will be earmarked for pensioners, while BD5mn will go to the housing renovation scheme.
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