Diyar Al Muharraq, one of the leading urban developers in Bahrain, said 70 per cent of the residential units in the first phase of its Deerat Al Oyoun social housing project has been sold successfully.

Located in the heart of Diyar Al Muharraq off Muharraq, the housing community will span across 1.2 million sq m  and will comprise an idea residential community with integrated community service centres and green spaces.

Its strategic location also places it in close proximity to schools, shopping malls, public beaches, recreational facilities, mosques, medical facilities, and a modern transportation network. The anticipated date for the project's first phase completion is February 2018.

Out of a total of 133 housing units for the beneficiaries of Ministry of Housing's 'Mazaya' Scheme, 70 per cent of them have been sold in the first phase fetching nearly BD10 million ($26 million) for the developer.

The social housing scheme 'Mazaya' is a housing service represented in the ministry's support offered to the beneficiary to obtain financing from a participating bank for the purpose of purchasing a housing unit, whereby the beneficiary pays back in instalments what represents 25 per cent of his/her monthly income, while the government, through the ministry, is committed to provide its financial support that covers the remaining of the monthly instalments at the financing bank.

Commenting on the success, Diyar Al Muharraq CEO Dr Maher Al Shaer said: "We are very pleased to have received such huge turnout on reservations and sales of the first phase of 'Deerat Al Oyoun'."

"The project has witnessed a high demand from the second day of Eid Al Adha, with keen citizens willingly lining up to get priority on housing units suitable for them. The management team also took the time to eagerly visit queuing customers to ensure their satisfaction and comfort whilst they waited for sale time," he noted.

Benefiting from 'Mazaya' is open to all existing housing applications of any type of housing services or to any citizen, who fulfils the scheme's eligibility conditions.

Diyar Al Muharraq is a masterplanned city for the people of Bahrain offering a range of housing options and quality lifestyle. It offers a cohesive mix of residential and commercial properties with a strong line-up of projects aimed at creating a long-term and sophisticated township.-TradeArabia News Service