Bahrain-based Sakana Holistic Housing Solutions, a leader in mortgage financing, recently held a ground breaking event for its new housing project Sakana Busaiteen.

The event was attended by P V Thomas, general manager, R P Construction and Sakana officials Abdul Hakim Al Mutawa, vice chairman, Reyadh Yousif Sater, chairman, Mazen Ahmed Alumran, board member and R Lakshmanan, chief executive officer.

Sakana is a finance company with paid up capital of BD20 million ($53 million), regulated by the Central Bank of Bahrain. Sakana started as a 50:50 joint venture between BBK and Shamil Bank.

In early 2010, Capinnova Investment Bank, the Sharia’a-compliant investment banking arm and fully owned subsidiary of BBK acquired 50 per cent stake in Sakana from BBK. – TradeArabia News Service