Local, regional and international buyers now able to secure homes through Sakana Holistic Housing Solutions
Manama - Sakana Holistic Housing Solutions has teamed up with Riffa Views Signature Estates as an Islamic mortgage provider. Heralding Sakana's first co-operation arrangement with a property developer, the deal also represents for the first time in the Kingdom of Bahrain the extension of mortgage financing facilities to international home buyers as well as to local and GCC citizens and expatriates across the GCC.
"Sakana Holistic Housing Solutions is delighted to be associated with Riffa Views and we look forward to supporting the signature development by providing a full service for potential home owners - wherever they are located in the world - through our broad range of Shariah compliant financing options," said R Lakshmanan, Chief Executive Officer of Sakana Holistic Housing Solutions.
Founded on the guiding principles of Islamic Shariah, Sakana helps to make home ownership widely available. The company is the first in the region to introduce a 30-year finance term along with financing for up to 90% of property value up to a maximum of BD 350,000 per customer. By financing through Sakana, international property investors who wish to purchase a home in the Kingdom are able to locate their investment and finance arrangements in one place, allowing them to partly insulate themselves against currency risk and eliminate the need to make international money transfers.
"Globally Riffa Views Signature Estates is being marketed across the UK and Ireland as well as Europe and this arrangement comes at an opportune time given the growing interest we are seeing from international buyers," added Richard Browning, Chief Executive Officer of Riffa Golf and Residential Development Company.
"We are delighted that Sakana has become the first in Bahrain to extend mortgage financing solutions to home buyers anywhere in the world and that we are the first property development with which Sakana has teamed."
"At Sakana our holistic approach to business centres on flexibility and on forging strong and lasting client and partner relationships at individual and corporate levels. The name Sakana means home, calmness and serenity and these qualities match the values of Riffa Views Signature Estates," added Mr Lakshmanan.
Sakana's financing solutions are available for the purposes of purchasing a home to live in, a second or holiday home or as a buy-to-let or buy-to-hold investment.
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About Sakana Holistic Housing Solutions
Sakana Holistic Housing Solutions BSC extends a unique range of Shariah compliant products and services that enable and ease the process of home ownership in the Kingdom of Bahrain. The company offers a unique mortgage financing model as well as access to a network of partners offering housing related services such as architects and real estate companies.
Underpinned by values of spirituality, Sakana works in partnership with its customers and its value networks to create quality and innovative housing solutions that are customized to address specific and market needs.
Sakana is a 50:50 joint venture between Bank of Bahrain and Kuwait (BBK) and Shamil Bank. The Board of Sakana Holistic Housing Solutions comprises five members with two representatives each from Shamil Bank and BBK and one independent director.
About Riffa Views Signature Estates
Riffa Views is a joint venture between Arcapita and Bahrain International Golf Course Company (BIGCC) and is the first golf residential development in Bahrain. The 972-villa project is a master planned concept for a luxurious community lifestyle that will provide a comprehensive range of sports, leisure and shopping facilities, including an 18-hole signature championship golf course designed by the top international golf pro, Colin Montgomerie. Riffa Views Signature Estates will also feature a country club, a tennis facility in association with tennis great Boris Becker, a high-end retail centre, and an international school managed by an International School Operator.
Issued on behalf of Sakana by Hill & Knowlton.
For press information contact:
Neena Punnen
Hill and Knowlton
Tel: +973 17533532
Fax: +973 17533370
E-mail: neena.punnen@hillandknowlton.com
Reem Al-Khalifa
Sakana Holistic Housing Solutions BSC
Tel: +973 17 20 19 18
Fax: +973 17 21 46 63
Email: reem@sakanaonline.com
© Press Release 2007
