Ithmaar Bank launches financing offers for Deerat Al Oyoun villas

Option of repayment over a period of up to 25 years with no down payments or evaluation fees


MANAMA: Ithmaar Bank is launching special financing offers for villas at the Deerat Al Oyoun development in Diyar Al Muharraq.

The offers are designed exclusively for beneficiaries of the Mazaya social housing programme, that aims to help eligible nationals buy their first homes with the benefit of government-subsidised financing, said the bank.

The special terms include the option of repayment over a period of up to 25 years with no down payments or evaluation fees.

Additionally, customers will be able to obtain personal finance to be paid over 15 years, with an optional grace period of up to six months, as well as free Home Protect Takaful Insurance protection cover.

Deerat Al Oyoun features more than 3,000 housing units in total, including 515 villas specifically developed for the Mazaya programme in collaboration with Housing Ministry and Eskan Bank.

The development boasts state-of-the-art infrastructure, offering residents fast and easy access to a range of community facilities and attractions, like retail outlets, schools and outdoor spaces.

“Deerat Al Oyoun is an affordable, high-quality housing development designed for Bahraini families,” said Ithmaar Bank deputy chief executive for banking group Abdulhakeem Al Mutawa.

“Ithmaar Bank customers who are interested in purchasing Deerat Al Oyoun villas will benefit from financing solutions that are compatible with Sharia. The scheme effectively allows housing applicants to purchase residential units immediately from the private sector without having to stay on the housing services waiting list,” he added.

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