Sakana completes phase 1 of housing project
Manama, July 24, 2011
Bahrain-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider, announced that Phase 1 of Sakana Busaiteen housing project comprising of five 3-storey buildings are completed.
The project comprises in total 10 three-storey buildings. Sakana Busaiteen is built based on the contemporary family needs and requirements in the form of comfort, accessibility and financing but cherish the joys of living in close proximity of the extended family, a statement said.
“We are pleased to complete our first property development targeted towards the Bahraini market that takes into consideration local cultural preference,” said Reyadh Yousif Sater, Sakana’s chairman, at an event held to commemorate successful completion of the project.
“We take this opportunity to thank Government authorities for providing relevant approvals, Project Contractor R P Construction, Project Consultant Akbari Architects and sub-contractors for completing the project successfully.”
Customers have the option of either purchasing an entire building or individual apartments, a statement said.
Sakana has partnered with several leading home furniture and appliance suppliers and interior decorators to furnish a mock up building and customers will be offered three distinct choices at competitive prices from “Q Home Décor”, “Home Centre” and “Freedom Furniture” along with along with Emax for home appliances.
Sakana’s chief executive officer R Lakshmanan said: “We have successfully accomplished yet another objective of providing holistic housing solutions. Apart from providing several options to customers for furnishing, we are providing mortgage financing up to 90 per cent value of the property for term up to 30 years.”
“We have also put together an exclusive mortgage finance package with rate starting as low as 6.75 per cent per annum and discounted arrangement fees. We thank all our business partners for being part of this success,” he added.
At Sakana Busaiteen each building is comprised of individual self-contained 3 bed room apartments, with shared common facilities. All the buildings are individually created to incorporate touches of traditional architecture in their luxurious contemporary design, the statement said. – TradeArabia News Service
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