A multi-million dinar plan to build thousands of housing units was given the green light.
The ‘smart technology’ blueprint was unveiled as Prime Minister Khalifa bin Salman Al Khalifa chaired the weekly Cabinet meeting at Gudaibiya Palace.
The Premier hailed His Majesty King Hamad for approving provisions to finance the ambitious scheme for 2009-2014.
Chaired by Crown Prince Salman bin Hamad Al Khalifa, the Economic Development Board has also given the plan the go-ahead.
‘The government will finance the project by seeking a BD250 million loan,’ Cabinet Affairs Minister Shaikh Ahmed bin Ateyatala Al Khalifa said. Other annual monetary inflows will be used to fund the scheme until the loan is repaid.
Under the plan, 14,000 housing units will be constructed.
A total of 10,000 units will be built next year using smart technology procedures of the two-phased plan.
The second stage consists in building 1,500 housing units in partnership with private developers, making the first phase of the Northern Town. The Housing Ministry has been instructed to draw up detailed plans of the development project.