Leading property services company Pegasus Real Estate said it has signed a financing agreement with innovative Islamic mortgage finance provider Sakana Holistic Housing Solutions for its key projects in Bahrain.

Part of the Dadabhai Group, Pegasus Real Estate is the exclusive sales and marketing agent for Abraj Al Lulu, Platinum Tower and Crystal Heights.

The agreement would allow customers of the projects being offered by Pegasus to financially empower themselves by releasing their equity in the ownership of the apartment.

This will benefit homeowners of ready apartments who could utilise the equity release facility to pay the apartment outstanding purchase price, maintenance fee and furnishing.

The facility, which is available to Bahrainis and expatriates, provides up to 80 per cent of property value for period up to 30 years. The offer is open for all the projects being offered by Pegasus, Abraj Al Lulu and Juffair Skyview.

'We are glad to be associated with Sakana and believe the equity release offering will financially empower our esteemed customers,' said Pegasus director Aziz Mithaiwala.

'We will be shortly promoting this Sharia-compliant financing solutions to all the home owners who are looking for assistance to take immediate possession of their unit.'

Sakana chief executive R Lakshmanan said the Islamic mortgage finance provider is pleased to partner with Pegasus and provide their valued customers financing solutions that enable them to have an apartment ready for occupation.-TradeArabia News Service