Ithmaar Bank has signed a financing agreement with Eskan Bank for a mixed-use development in Isa Town, Bahrain.

The 'micro-city' project being developed by Eskan Bank comprises 15 six-storey buildings featuring 316 apartments along with offices, retail outlets and showrooms, said a report in the Gulf Daily News (GDN), our sister publication.

It is located on three plots at the entrance of Isa Town by the intersection of Al Quds Avenue and Muscat Avenue.

Under the agreement, Bahraini citizens will be offered government-subsidised financing through Ithmaar Bank as part of a national scheme.

The Social Housing Financing Scheme allows citizens to finance their first homes through Ithmaar Bank by paying 25 per cent of their monthly income towards the property's monthly instalment with the rest being paid for by the Housing Ministry through Eskan Bank. - TradeArabia News Service