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Naseej-Eskan in key property deal

MANAMA, September 10, 2014

Bahrain-based real estate developer Naseej has signed an agreement with Eskan Bank enabling the bank's loan allottees to buy property at the Al Madina Al Shamaliya or the new North Town being built in Bahrain.

Naseej managing director Mohamed Khalil Alsayed and Eskan Bank's chief executive Dr Khalid Abdulla were the signatories to the agreement during a ceremony at the bank’s headquarters in Manama, Bahrain, said a report in the Gulf Daily News (GDN), our sister publication.

This latest agreement formalises the working relationship between both parties whereby Eskan Bank's allottees can utilise their loans to purchase homes within projects offered by Naseej.

“This agreement demonstrates our commitment towards working with the public sector in delivering housing solutions for Bahrainis on both the development side as well as the financing part whereby Eskan Bank takes a such role,” Alsayed said.

“On behalf of Naseej, I would also like to thank Eskan Bank for giving the affordable market segment access to value-based solutions enabling them to buy homes,” he said.

Dr Abdulla said the arrangement would give a number of its beneficiaries the chance to buy their preferred homes.

“Eskan Bank takes great measures in supporting Bahrainis' need for social and affordable housing by facilitating the availability of finance to home buyers as well as recommending projects which suit buyers' purchasing ability and preferences,” he added. - TradeArabia News Service




Tags: property | agreement | loan | Eskan | Naseej |

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