Bahrain - Al Salam Bank has signed an agreement with the Housing and Urban Planning Ministry and Eskan Bank to provide financing to those seeking to own residential units under the Government Land Development Programme.

The recently-approved initiative is designed to enable citizens to purchase off-plan residential units prior to their construction or completion.

This collaboration comes in line with the ongoing national efforts led by the ministry to develop the housing ecosystem in Bahrain, through initiatives that offer flexible financing options.These new options will facilitate citizens’ access to suitable housing that meets their needs and aspirations, and enhance opportunities for early homeownership.

“We are proud to sign this agreement, which reflects the direction towards developing innovative housing solutions that meet the needs of citizens,” Al Salam Bank chief retail banking officer Mohammed Buhijji said in a statement.

“We also reaffirm our commitment to continuously developing our financing products in line with citizens’ aspirations, offering diverse options that facilitate their journey towards housing stability, as part of our role as a key and active partner in supporting national initiatives and achieving sustainable development in the housing sector.”

Meanwhile, Eskan Bank commercial and institutional banking assistant general manager Ebrahim Jasim stated that the partnership with Al Salam Bank will empower citizens to secure suitable homes within high quality, government developed communities.“This agreement represents a significant step forward in accelerating project delivery, expanding pathways to homeownership, and strengthening the long-term resilience and sustainability of Bahrain’s housing ecosystem.“We remain dedicated to supporting national initiatives that enhance housing stability and improve the overall quality of life for citizens.”

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