Manama, September 3 /BNA/ During the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, may God protect him, to the sisterly Arab Republic of Egypt, a Memorandum of Understanding was signed between the Government of the Kingdom of Bahrain and the Government of the Arab Republic of Egypt regarding cooperation in the field of housing and real estate development. The memorandum was signed on behalf of Bahrain by His Excellency Dr. Abdullatif bin Rashid Al Zayani, Minister of Foreign Affairs, and on behalf of Egypt by His Excellency Mr. Ahmed Kouchouk, Egyptian Minister of Finance.

On this occasion, Her Excellency Mrs. Amina bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, confirmed that the Memorandum of Understanding will contribute to enhancing bilateral cooperation and exchanging expertise in the housing sector, in line with the ministry’s plans to develop its mechanisms for providing housing services to citizens, managing projects, and the Government Land Development Rights program. She pointed out that the memorandum represents an incentive for further joint cooperation between the Kingdom of Bahrain and the real estate and construction sector in the Arab Republic of Egypt, aiming to provide suitable housing for citizens in both brotherly countries.

The Memorandum of Understanding between the Ministry of Housing and Urban Planning and the Ministry of Housing, Utilities and Urban Communities in the sisterly Arab Republic of Egypt aims to exchange experiences and expertise in the partnership between the government sector and real estate development companies in providing housing projects and real estate development projects. This contributes to increasing the real estate stock and diversifying housing options available to citizens, with a focus on Bahrain’s experience in this field through the Government Land Development Rights program, in addition to exchanging expertise in the systems and legislations regulating this sector and the procedures in force in both countries.