Kuwait Finance House - Bahrain said it has successfully completed the first financing requests for one of the residential villas listed under the Mazaya Social Housing programme, as part of the third and fourth phase of the Deerat Al Oyoun residential project located in Diyar Al Muharraq, which was recently launched in cooperation with the Ministry of Housing.

 

The villas of the last phases in the Deerat Al Oyoun project were specifically designed to meet the needs of the modern-day Bahraini family. 

 

These are available in four designs including Bahraini, modern, Spanish and Mediterranean architectural styles, and all of the boast four bedrooms, including two master bedrooms, two halls, a kitchen, a living area, four toilets, indoor parking that accommodates two cars, a spacious back garden and a balcony.

 

The first villa was handed over to the family of Jamal Al Khalaqi, in the presence of Dr Khalid Abdulla, General Manager of Eskan Bank, Abdulhakeem AlKhayyat the Managing Director and CEO at KFH – Bahrain, and a number of officials from both entities.

 

Commenting on the handover, Dr Abdulla said: "It gives us great pleasure to provide multiple solutions for social housing units ready to be purchased in the Deerat Al Oyoun project, which are available exclusively to citizens who qualify for the Mazaya programme and the financing services from the Ministry of Housing."

 

"We would like to commend KFH-Bahrain’s role in providing financing offers that allow Bahraini citizens to reserve and purchase homes within the project that acquire to their family’s needs with seamless procedures and a swift process to obtain financing. We are pleased to witness the delivery of the first villas within this phase," he added.

 

KFH-Bahrain said to mark the occasion, all its customers who apply for benefits in November this year and until the end of March 2022, will be automatically entered into the draw for the ‘your installments on us’ promotional campaign, which includes the first two years’ installments from the bank for one winner, or the first year’s installments from the bank for three winners. 

 

In addition, the Bahrain-based bank will also offer instant prizes worth up to BD1,000 ($2,637).

 

AlKhayyat said: "We at KFH-Bahrain place the needs of our valued customers at the forefront of our priorities, and we aim to facilitate their housing needs by providing them with affordable housing finance solutions."

 

"We believe that our strategic partnership with the Ministry of Housing is pivotal, as it reflects our commitment which is aimed at contributing to our role in developing the housing affairs in the kingdom," he stated. 

 

"We are always looking forward to providing financing services and exclusive offers for housing applicants, especially those who qualify for the Mazaya programme," observed AlKhayyat.

 

On receiving the keys to the villa, Al Khalaqi said: "I am very pleased to be one of the first recipients of the last phase villas of Deerat Al Oyoun, and I would like to extend my gratitude and appreciation to KFH-Bahrain for providing a seamless experience and special financing offers that bring customers closer to owning their own home within the social housing solutions."

 

Hamed Mashal, Head of Retail Banking at KFH-Bahrain, said: "We provide our valued customers with the opportunity to obtain shari’a compliant real estate financing at competitive profit rates, as part of the innovative financing solutions under Mazaya, which is offered by the Ministry of Housing."

 

Customers will also have a flexible repayment period of up to 30 years, as well as additional financing of up to BD12,000 to furnish the villa. In addition, customers will also receive a golden package for the maintenance of all villas for a full year from a reputable maintenance company, noted Mashal. 

 

"The exclusive offer also exempts customers from paying administrative fees or real estate appraisal fees, without requiring an advance payment for additional financing outside the scope of the Mazaya program which covers the value of the property," he added.-TradeArabia News Service