Bahrain signs USD1b contract to construct new social housing

08 Apr 2015

(MENAFN) The Bahraini government signed USD1 billion transaction to construct 3,100 social homes in a deal that stands as the country’s biggest public and private housing enterprise, Arabian Business reported.

The property developer Diyar signed the MoH with the Ministry of Housing of the Government of Bahrain. The deal grants the permission for the government to acquire the social housing units.

“This is a very important agreement as it is the largest agreement of its type for cooperation between the private and public sectors and will have positive consequences,” the Minister of housing said.

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