Mazaya: Financing social housing in Bahrain – Mazaya Bahrain requirements
Table of Contents
Mazaya: financing social housing Bahrain in cooperation with Mabanena Contracting Company as one of the big contracting companies in Bahrain.
Mazaya: Financing social housing in Bahrain – Mazaya Bahrain requirements
“Mazaya” represents the social housing financing program of the Ministry of Housing in the Kingdom of Bahrain, which allows beneficiaries to own affordable homes through the government support plan for real estate ownership. Mabanena Contracting Company is one of the leading companies participating in the Mazaya Program, which aims to provide financial support to citizens according to certain conditions.
-What Does Mabanena contracting company offer?
Mabanena cooperates with the "Mazaya" Program provided by the Bahraini Ministry of Housing.
However, did you know that Mabanena is one of the most reliable contracting companies in Bahrain that provides building and construction services, in addition to helping clients obtain innovative solution services until turnkey, which is:
- Building and Construction
- Planning and quality control of construction
- Continuous follow-up of the progress of project implementation
- Use the latest planning and cost-calculating software and materials
- Using the latest and finest international raw materials to implement projects through our strategic partners
- Implementing the latest green energy technology such as solar panels and wind turbines according to the directions of Bahrain Vision 2030
- Using the latest technology for smart homes and facilities to keep pace with Bahrain Vision 2030
- Provide a guarantee of up to 5 years according to the type of work
- Provide a warranty on water isolation works up to 15 years
- Maintenance work to keep the efficiency of buildings in general
- Proven track record of successfully completed projects
- 24/7 customer service
Mazaya – Bahrain – What Does Mabanena contracting company offer?
-What are the terms of the Bahrain Mazaya Program?
The conditions required for the applicant are as follows:
- The applicant must be Bahraini
- to have a family
- The age of the applicant should not exceed 35 years during the application period, and also that he should not be less than 21 years old during the application period
- The applicant’s monthly income should not be more than “1200” BD and not less than “600” BD
- The applicant or a member of his family should not have previously benefited from any housing service for the purpose of ownership. Whether it is from the government or any other subsidiary.
- The applicant or a member of his family must be a permanent resident in the Kingdom of Bahrain.
- The applicant or a family member did not own real estate at the time of application and up to 3 years prior to the application date
Except for: owning a property less than (100) square meters. The wife's ownership of the property that was transferred to her by inheritance.
-The documents required for the “Mazaya” applicant are:
1- A salary statement provided by the employer
2- A bank statement for the last three months of the applicant
3- A copy of the smart card
4- “Benefit” credit report
5- Documents explaining all existing bank deductions for the applicant
The social housing program provides all housing solutions and financing options
, It also enables young Bahraini families to own the social housing that suits them. The social housing offers many housing commensurate with all the needs and financial capabilities of Bahraini citizens.
There are many categories that have been implemented according to the prices that are suitable for every citizen. The development of the regulatory and legislative environment for increasing the economic effects, works to enhance local production. Thus, it contributes to creating many job opportunities in this sector and helps in promoting the participation of local production
The documents required for the “Mazaya” applicant
-What are the criteria for benefiting from social housing benefits?
The applicant may choose an existing dwelling individually or from a list of approved and constructed dwellings by one of the approved real estate developers, provided that the dwelling meets the following criteria:
- It may be a separate, semi-detached or attached residence, or a residence within a residential complex or in the form of an apartment.
- The dwelling must be newly built or provided that it is suitable for habitation for the next 25 years, according to the estimation of the specialists in the Ministry.
- The housing construction must comply with the regulatory requirements for construction in the various regions in the Kingdom of Bahrain.
- The house must be habitable from the date of its purchase, connected to the necessary infrastructure supplies of electricity, water and sewage facilities.
- The housing price shall not exceed the specified value of the program, which about to 90,000 Bahraini dinars, unless the administration agrees to specify a higher value for the dwelling.
- provided that the beneficiary is responsible for paying the difference between the specified value of the program and the value of the dwelling individually to the financing bank.
-How can Mabanena Contracting Company provide support through the Mazaya Program?
