Bahrain Islamic Bank (BisB), the leading provider of digital banking services in the kingdom, has signed an agreement with Effects Real Estate under which it will provide exclusive financing options to those keen to invest in land plots within its Hamala Lands residential project in the kingdom.

Situated in the prestigious Hamala area, the project is classified as a connected residential area (RHA) with fully developed infrastructure and available deeds. It boasts 50 land plots (ranging from 160 sq m to 391 sq m) with prices starting at BD49,000 ($128,484) onwards.

According to BisB, the agreement will enable its customers to benefit from complimentary notarisation services and a generous grace period of up to 3 months from the financing date to the first installment date.

Also customers reserving directly through the bank will enjoy special pricing on the Hamala project, along with a BD200 ($524) gift voucher upon completing their booking and registration, it stated.

"The collaboration with Effects Real Estate underscores our commitment to offering customers streamlined financial solutions for real estate products. We strive to enhance our roster of partnerships with leading real estate developers to provide comprehensive solutions," said Fatema AlAlawi, the Chief Retail Banking Officer at BisB, after signing the deal with Effects Real Estate CEO Anwar Asaad at the third edition of the Housing Finance Exhibition being held at the Bahrain City Centre.

The event, being organised by the Ministry of Housing and Urban Planning at the Bahrain City Centre, will run until February 17.

"BisB continues to present exclusive opportunities for customers interested in investing in Effects Real Estate properties, thereby enhancing and simplifying their banking experience and enabling access to a range of services," he stated.

Effects Real Estate Company CEO Anwar Asaad said: "The next stage will witness a greater expansion in the level of cooperation between Effects Real Estate Company and Bahrain Islamic Bank, which constitutes good opportunities for those searching for real estate, benefiting from financing services, and creating diversity in options for the citizen, in terms of area and type."

"Housing, and its geographical location, in a way that suits the needs of citizens, and what distinguishes these housing plots is their availability in different areas required by customers and with front facades of up to 15m which makes them the best option with competitive prices accessible to everyone," he added.

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