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.For all the latest construction news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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