Sakana, ARK Holding to provide home financing
Manama, May 23, 2012
Sakana Holistic Housing Solutions, the innovative Islamic mortgage finance provider, recently signed a memorandum with ARK Holding to provide home financing for ready-to-move-in super deluxe luxury Kazerooni Villas located near St Christopher’s School in Saar.
The project comprising 10 villas each with built up area of approximately 550 sq m is developed and promoted by Kazerooni Contracting and offered for sale to Bahrainis and other GCC nationals at BD285,000 ($756,130.9) and above depending on plot size and location.
The villas are being offered by the developer with first-of-its-kind buy back guarantee to repurchase at the end of five years subject to terms and conditions, a statement from Sakana said.
Sakana will offer customers finance of up to 90 per cent property value subject to maximum BD350,000 ($928,581.8) and repayment term of up to 30 years.
R Lakshmanan, CEO of Sakana, said: “We are pleased to associate with Kazerooni Contracting and offer mortgage financing for such a high quality development which is available ready to move in.”
Hussain Kazerooni, managing director of Kazerooni Contracting, said: “We are delighted to partner once again with Sakana and offer our valued customer financing options for their dream home. In addition, our first-of-its-kind buy back guarantee should provide peace of mind to customers and we believe the development will be a popular choice for GCC nationals to purchase and expatriates to lease.”
Kazerooni Villas offers a spacious living and dining area along with six bedrooms with attached bathrooms and dresser with fully fitted wardrobes. The villa also offers internal kitchen, external kitchen, two kitchenettes all with Bosch appliances, servant and driver room, laundry and store areas, private swimming pool, landscaped lush garden and two car ports.
The villas are available in various plot sizes from 401 sq m to 415 sq m and located near St Christopher’s School, Waitrose, cafes and other services in Saar. – TradeArabia News Service
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