The State of Bahrain

The Housing Project (Second Loan)

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Loan No.:	381	Interest Rate:	4.5%
Beneficiary:	Housing Bank	Grace Period:	4 years
Project Cost:	KD 31.7 million	Maturity:	22 years
Amount of Loan:	KD 20.0 million	Repayment:	37 semi-annual installments
Date of Loan Agreement:	18/05/1999	First Installment:	4 years following the first disbursement
Date of Effectiveness:	23/06/1999

 

Objectives:

The project aims at meeting the increasing demand for housing units and providing decent houses for Bahraini people through several channels including the building of housing units, land preparation and granting of housing loans.

Description:

The project, which is scheduled to be completed by the end of the year 2001, comprises the following main components:

1. Housing Units: This includes the construction of about 1,425 adjacent houses and apartment buildings, with an area of 110 - 190 m2 per house, and about 145 m2 per apartment.

2. Land Preparation and Services: This includes preparing the sites and providing all necessary services such as roads, water, electricity, telephone lines and others .

3. Housing Loans: This includes providing loans to the beneficiaries for building new houses, buying readily available houses and expanding and rehabilitating existing houses.

4. Technical Services: The project also provides for consulting services needed for the supervision of works during implementation, acquiring software, computers and office equipment, and training of engineers and technicians.

 

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