Financing for the purchase of a land plot and construct on it, or purchase an existing building
Key Provisions
The second and third stages are disbursed subsequently to build the housing unit
The property is mortgaged to the financing bank
Financing can be obtained from partner banks
The installments repayment period is 30 years
Use Of Financing
Purchase a land plot and construct on it
Purchase a building and add to it
Financing for the purchase of a ready built home
Terms
- Repayment term up to 30 years
- Financing can be obtained from partner banks
- The property is mortgaged to the financing bank
Use Of Financing
Purchase a housing unit
Financing for the construction of a residential land plot owned by the applicant
Terms
- Repayment term up to 30 years
- Financing can be obtained from partner banks
- The property is mortgaged to the financing bank
Use Of Financing
Construction of a residential property on a land plot owned by the applicant
Financing for the purchase of a residential land plot
Terms
- Land valuation to be conducted by a real estate evaluator approved by the Real Estate Regulatory Authority (RERA) and Eskan Bank
- The land being purchased must be zoned as residential and free of any legal disputes, liens, or encumbrances
- The property is mortgaged to the financing bank
- There are no restrictions on the land construction period
- The land can be built through additional financing as per the Tas'heel Program, or through personal financial resources
- Repayment term up to 30 years
- Financing can be obtained from partner banks
Use Of Financing
Purchase of a land plot
Housing financing with flexible payment criteria to provide a housing unit within a property owned by a relative of the beneficiary or their spouse
Terms
- The beneficiary can purchase or build a housing unit in the form of an apartment or an attached/ independent annex to the main family home
- The home can be bought or built on a real estate owned by up to the fourth degree relative of the husband or wife
- The property is mortgaged to the financing bank
- Repayment term up to 30 years
- Ownership of the home can be transferred to the applicant as shares on a pro rata basis or by issuance of an individual separate title deed
- Financing can be obtained from partner banks
Use Of Financing
Purchase a housing unit
Purchase a land plot
Purchase a land plot and construct on it
Construct a housing unit
Addition to an existing building
Purchase a building and add to it
Housing financing with flexible payment criteria amongst a collaborative group of beneficiaries
Terms
- Buying or constructing a property in the form of an apartment building, apartment complex, or attached dwellings or compound
- The property’s value must cover the aggregate financing amount. The ownership of the property to be transferred in case of purchase or construction to the group beneficiaries under separate title deeds or the pro rate of their ownership within the property
- Beneficiaries within the group must be in agreement if a new applicant is added to Tas'heel Ta'awon
- A group of applicants can apply together to purchase, or construct one collective property through Tas'heel Ta'awon
- Repayment term up to 30 years
- The property is mortgaged to the financing bank
- Prior to the issuance of the decree, a new applicant or an existing applicant can join Tas'heel Ta'awon
- Financing can be obtained from partner banks
Use Of Financing
Purchase a housing unit
Purchase a land plot
Purchase a land plot and construct on it
Construct a housing unit
Purchase a building and add to it
Conditions
- To be a Bahraini.
- To be the head of the family.
- The age of the applicant at the time of submitting the application and disbursement of the financing from the financing bank shall not be less than (21) years and not more than (50) years for the Tas’heel Aqari, Tas’heel Al Bait Al Oud and Tas’heel Ta’awon Financing Programmes, and the applicant must be fully competent.
- The applicant’s income at the time of application and until the disbursement of the financing from the financing bank shall not be less than (150) Bahraini Dinars and not more than (1200) Bahraini Dinars.
- The applicant or any of their family members must not have previously received any housing service for the purpose of owning a property provided by the government or any other entity.
- The applicant’s family must be a permanent resident of the Kingdom of Bahrain.
- In the case of “Tas’heel Financing” for the construction of a dwelling, the applicant must prove that they or any member of their family owns a suitable and vacant residential land Plot that is free from any legal dispute.
- Without prejudice to paragraph (7) of this Article, the applicant shall not be the owner of a property; they or a member of their family; for a period of (3) years prior to the submission of the application and until allocation.
- and shall be considered an owner as per the following: Anyone who has benefited from a dwelling through one of the forms of Islamic financing or under commercial financing.
