Eagle Hills Diyar, the masterplanner of the iconic urban development Marassi Al Bahrain, said it has entered into a strategic partnership with Al Baraka Islamic Bank, one of the kingdom’s leading financial institutions in the Islamic banking sector.

Under this agreement, Al Baraka Islamic Bank will provide exclusive mortgage solutions to its customers who wish to invest in any of Marassi Al Bahrain’s residential components.

This strategic collaboration will enable Al Baraka Islamic Bank customers who wish to invest in the project, to avail themselves of exclusive financing schemes that will facilitate their purchase of any residential units under the Marassi Al Bahrain project umbrella, remarked Dr Maher Al Shaer, the managing director at Eagle Hills Diyar, after signing the deal with Mohamed Isa Al Mutaweh, CEO and board member of Al Baraka Islamic Bank, in the presence of other senior officials at the Al Baraka Islamic Bank headquarters at Bahrain Bay.
 
The bank will provide eligible buyers, both Bahrainis, expatriates and GCC nationals, with flexible re-payment structures at competitive rates, to ease them through the construction period of their individual investments and repayment thereof in accordance with the bank’s terms and conditions, he noted.

Dr Al Shaer said: "Our alliance with a solid financial institution such as Al Baraka Islamic Bank is a strategic move to consolidate the bank’s customer-oriented financing solutions with our unique product offering, in an effort to offer investors the economic feasibility and opportunity to benefit from favorable funding conditions."

"One of our main roles as developers is to support our investors with convenient payment structures and to facilitate their investment journey in the long-term, in line with international standards and best practices," he stated.

Mohamed Isa Al Mutaweh, the chief executive and board member of Al Baraka Islamic Bank, said: "We are delighted to demonstrate once again our active partnership with the private sector to provide financing facilities for housing projects in the kingdom and thus facilitate housing provision to citizens and non-citizens through one of the leading housing projects Marassi Al Bahrain’s residential components, which is one of the most prestigious real estate companies in the kingdom."

"The bank will provide financing for those wishing to purchase a residential unit in this project on competitive terms and rates to suit different categories of customers," he added.-TradeArabia News Service