Saar Central in home financing deal
Manama, May 23, 2011
Saar Central, a premier real estate project in Bahrain, said it has signed a deal with AlBaraka Islamic Bank to offer attractive home financing schemes to its potential customers and buyers.
Built on a sprawling 65,000 sq m area, the Saar Central is being managed by Capivest, a Bahrain-based Islamic investment bank. It offers a mix of 82 villas of varied size, ranging from simply elegant to modern to luxurious in the Saar area in Bahrain.
The development, which is centrally-located, offers the advantage of being close to Manama City and to King Fahd Causeway.
The scheme will provide competitive rates for financing Saar Central homes whilst adhering to Islamic Sharia regulations at the same time.
Commenting on the agreement, Nader Al Qassab, board member of Sakan Development Company – owner of Saar Central – said: 'We are excited to be able to offer such great rates to our purchasers in partnership with one of Bahrain’s most reputable Islamic banks.'
'The financing scheme will allow customers to acquire dream homes without putting too much strain on their finances. We value our customers and this is a step towards making our homes available to all members of the public who wish to own and move into a home in Saar Central,' he explained.
Mohammed Isa Al Mutaweh, CEO and board member of AlBaraka, said, 'This partnership allows us to offer competitive Islamic financing rates to anyone who is looking to purchase a home in Saar Central, making owning your dream home a simple, affordable and straight-forward process.'
'With more and more families looking to own a home that meets their standards of comfort and quality, it gives us great pleasure to be able to offer potential homeowners a financing scheme such as this with one of the premier housing developments in Bahrain today,” he added.-TradeArabia News Service