KFH seals finance deal for Diyar Al Muharraq residential project
MANAMA, October 22, 2023
Kuwait Finance House – Bahrain, a leading Islamic bank in the kingdom, said it has sealed a collaboration deal with Bahraini developer ERA Real Estate to provide exclusive financing options for its prime development 'Khudur Homes' in Diyar Al Muharraq.
This partnership is a significant step in the bank's efforts to make homeownership more accessible and affordable to the community, said a statement from KFH.
The Khudur Homes project features a total of 107 custom-built modern living villas. These residences will help meet the various needs and aspirations of homeowners, providing them with the ideal living environment.
These include flexible tenor options of up to 30 years, empowering homeowners to tailor their repayment schedules to their individual financial goals, and complementary fire and life insurance coverage, all strictly adhering to Islamic shariah principles, it stated.
Furthermore, with an extensive understanding of clients’ needs, KFH-Bahrain is offering competitive home financing rates with no associated admin fees, making purchasing and owning a house a much more straightforward and an accessible option, it added.
On the collaboration, Hamed Mashal, the Executive Manager and Head of Retail Banking at KFH-Bahrain, said: "It gives us great pleasure to partner with ERA Real Estate on the “Khudur Homes” initiative, since it supports our goal of offering easily accessible financings."
"Our aim is to empower individuals by making homeownership more obtainable, and this engagement allows us to achieve that. We look forward to meet the aspirations of the Bahraini community through providing responsible and Sharia-compliant financing at highly competitive rates," he added.
ERA Real Estate CEO Abdul Hussain Khudur said: "We ensure that our clients have access to financing solutions that meet their unique needs through our relationship, making 'Khudur Homes' a symbol of ambition in the Kingdom of Bahrain."
"This initiative goes beyond building houses; it is about enhancing living experiences and encouraging individuals and families to be a part of Bahrain's vibrant and improved communities that will ultimately contribute to their future positively," he added.-TradeArabia News Service
