KHCB signs finance deal with Dadabhai
Manama, May 6, 2014
Khaleeji Commercial Bank (KHCB) has signed a MoU with Dadabhai Development and Properties Company (DDPM) to provide finance for the purchase of properties at Juffair Heights residential project.
The MoU was signed by KHCB deputy general manager of commercial banking Fuad Taqi and DDPM director Ahmed Dadabhai and was attended by officials from both the bank and the company.
Under this agreement, customers, both Bahrainis and expatriates, who wish to avail property finance from KHCB, will receive up to 80 per cent financing options for a period of up to 20 years, for purchasing property in the Juffair Heights freehold development.
"We are immensely pleased with our agreement with DDPM and we look forward to providing our services and property finance facilities to the potential buyers of units in the Juffair Heights project," stated Taqi.
"DDPM is a reputed property development company in Bahrain and we are very pleased with the quality of work currently in progress on the Juffair Heights project," he added.
Construction of the Juffair Heights Towers has already begun and the apartments are due to be ready for occupation by the third quarter of 2016.
"We are proud to be associated with KHCB and we appreciate their firm belief in the project, in particular, and the real estate market in Bahrain in general," said Dadabhai.
"We look forward to establish a strong relationship with the team at KHCB and guide interested home buyers at the project to utilise the Islamic finance facilities available through them," he noted.
"Juffair Heights is a complete and self-contained development for families, which will have a modern infrastructure in a friendly, safe and futuristic environment," he added.-TradeArabia News Service