Rafik Nayed
Al Salam Bank ties up with Eskan for key Bahrain villa project
MANAMA, May 17, 2021
Leading Bahrain bank Al Salam has signed an agreement with Eskan Bank to offer competitive property financing facilities to clients for the purchase of their dream homes within the Danaat Al Baraka development under the “Mazaya” social housing scheme.
A major residential project located in Jannusan area, Danaat Al Baraka boasts 211 villas with a total built-up area of 234 sq m. All villas encompass comprehensive features designed to meet the needs of a modern family, distinguished by four contemporary designs each comes with four bedrooms, two living areas and equipped with the latest facilities.
As per the MoU signed with Eskan and the Ministry of Housing, Al Salam bank will help facilitate the process of purchasing a villa in ‘Danaat Al Baraka’ for eligible Bahraini citizens under Mazaya scheme.
On the strategic deal, Al Salam Bank Bahrain CEO Rafik Nayed said: “The Mazaya scheme is a significant initiative that elegantly offers housing solutions to eligible applicants, and Al Salam Bank facilitates highly efficient and flexible financing processes, thus streamlining the delivery and handover of homes."
"We look forward to continuing our joint initiatives and active collaboration with the Ministry of Housing and Eskan Bank," he stated.
Tariq Kazim, Chairman of Danaat Al Baraka Board, said its partnership with Al Salam Bank Bahrain, will enable a wide range of customers the opportunity to purchase one of the most prestigious residential villas in the ‘Danaat Al Baraka’ project.
"In an effort to create a successful project, we strive to provide a wide range of ready-made housing solutions equipped with all the basic facilities that meet the different needs of the Bahraini family. Through Danaat Al Baraka, we seek to contribute to enhancing the pace of the urban movement within the Kingdom of Bahrain,” he added.
On the partnership, Eskan General Manager Dr Khalid Abdulla said: “Through this partnership, we aim to support both Al Salam Bank’s customers and beneficiaries of ‘Mazaya’ and the financing services provided by the Ministry of Housing, to obtain easy financing for purchasing one of the leading housing solutions located in Jannusan."
Nayed said Salam Bank was committed to providing real estate financing services to this project, which comes as part of its continuous efforts to meet the growing demand for social housing opportunities in Bahrain, as well as enhancing the sustainability of housing services.
“We commend the vital role played by both the banking and real estate sectors in achieving the kingdom’s goals of providing facilitated housing financing solutions. The joint efforts have enabled several Bahraini families to purchase and move into their homes, as a result of the easy access to financing facilities, remarked Nayed.
"Despite the challenges resulting from the Covid-19 pandemic, we reaffirm our commitment to strengthening our fruitful partnerships with institutions from both sectors, and together we look forward to many more achievements in the coming future,” he added.-TradeArabia News Service
