Manama, Kingdom of Bahrain: Khaleeji Commercial Bank (KHCB), one of the leading Islamic banks in the Kingdom of Bahrain, has recently announced the signing of an agreement with Eskan Bank, to launch exclusive real estate financing offers on residential units available for immediate sale within Danat Al Baraka project in Janusan. The project is one of the most prominent housing and real estate projects under the umbrella of the Ministry of Housing and Eskan Bank in the Kingdom of Bahrain.
As per the agreement, KHCB will welcome and receive clients who are wishing to buy properties within Danat Al Baraka in a special booth that is located inside the project, starting from today, May 19, 2021, with the aim of receiving applications and facilitating its processing.
The exclusive offer from KHCB include granting financing services of up to BD120,000 with a payment period of up to 25 years without down payment, administrative fees or appraisal fees, in addition to free insurance against fire.
Furthermore, beneficiaries of this offer can also obtain additional financing to purchase residential units or furnishing with exceptional benefits, which are a repayment period of up to 30 years, without down payment and at competitive profit rates, within the framework of the Bank's terms and conditions.
On this occasion, Head of Retail Banking Mr. Abdulnasser Ahmed Al Rayes expressed delight in this partnership between KHCB and Eskan Bank, saying: “At KHCB, we have always been keen to be one of the main supporters of all economic and social initiatives that benefit citizens. This partnership with the Eskan Bank is a clear reflection of this approach, through which we aspire to meet the increasing demand for Mazaya social housing scheme, in order to ensure the provision of affordable financing solutions for citizens."
Mr. Al Rayes added: “Mazaya is one of the leading housing solutions in the Kingdom of Bahrain which is contributing to fulfilling the dreams of a large segment of Bahraini citizens, and we at KHCB are among the first supporters of this programme, which is confirmed by this partnership to provide exclusive financing for those who meet the terms of the programme to own a units in "Danat Al Baraka" project, which is distinguished with its multiple housing opportunities that is included within the social housing solutions.”
Meanwhile, Mr Tariq Kazim, Chairman of Danat Al Baraka Company, said: “We want to establish high standards and high quality for housing units, and we also seek to contribute to enhancing the pace of the urban movement in the Kingdom of Bahrain.
"The Danat Al Baraka project came to achieve these endeavours as it also provides a wide range of ready-made housing solutions equipped with all the essential facilities that meet the needs of the Bahraini family, and it is our pleasure to enable citizens eligible for the Mazaya programme to own their dream home by enjoying exclusive financing offers from KHCB."
On his part, Dr Khalid Abdullah, General Manager of Eskan Bank, commented: “We are proud of the cooperation that brings us together with KHCB to provide affordable real estate financing solutions for the villas of the Danat Al Baraka project to citizens who can benefit from the Mazaya programme and the financing services of the Ministry of Housing. This partnership reflects our continuous efforts at Eskan Bank to support a wide range of citizens to own a housing unit under this unique scheme, including at the Danat Al Baraka project, whose villas are distinguished by their readiness and strategic location in a quiet community at Al Budaiya Highway. The villas of this project have modern designs that meet the needs and requirements of the Bahraini families to the fullest, thanks to the adequate number of rooms and basic facilities that guarantee the comfort and satisfaction of them all,"
It is worth noting that “Danat Al Baraka” project includes 211 modern villas with four different modern designs, all consisting of two floors and containing four bedrooms, a spacious hall, a kitchen, an extra room for domestic workers and parking for two cars. The project is built on a land of 73,514 square meters in Janusan area in the Northern Governorate.
For more information on this offer, please contact KHCB Call Centre on +973 17540054.
© Press Release 2021