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Mon 23 Mar 2015 12:00 PM

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Bahrain pledges to build 3,000 new homes

New units are intended for citizens on the social housing waiting list

Bahrain pledges to build 3,000 new homes

Bahrain’s housing ministry has signed a BD276 million ($732 million) deal with a developer to build 3,000 new homes.

The new homes are intended for citizens on the social housing waiting list and will be built on 1.2 square metres of reclaimed land off the north coast of Muharraq, Gulf Daily News reported.

The developer, Diyar Al Muharraq, will finance the project's construction with support from Kuwait Finance House – Bahrain, the newspaper said.

Under the deal, the housing minister will buy the homes from the developer once completed and manage them under its social housing budget.

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