Bareeq Al Retaj inks finance deal with Bahrain Islamic Bank
MANAMA, 3 days ago
Bareeq Al Retaj Real Estate Company said it has entered into a deal with Bahrain Islamic Bank to provide enhanced mortgage financing solutions to customers interested in purchasing units within its Ras Hayan Village and Wahati apartments in the kingdom.
A key developer renowned for its portfolio of landmark developments in Bahrain, Bareeq Al Retaj said the deal was inked at the recent Cityscape Bahrain 2024 expo.
Under this agreement, customers purchasing Bareeq properties with BisB’s property finance will get special offer rate. This includes a minimal down payment of only 5%, a financing period of up to 30 years, and competitive annual profit rates.
The arrangement also includes free fire insurance during the financing period to provide added security and convenience throughout the homeownership journey, it stated.
On the strategic partnership, Bareeq Al Retaj CEO Yousif Mohamed Bucheeri said: "This collaborative effort with BisB reflects our dedication to making premium real estate accessible to a wider range of buyers through flexible and competitive financing solutions."
"Ras Hayan Village and Wahati Apartments are two vibrant communities that meet the modern lifestyle needs of citizens and residents alike. With BisB’s financing expertise, we aim to ensure that owning a home in one of these developments becomes a seamless and rewarding experience," he stated.
BisB’s Property Finance is known for its expedited application process with fast approvals that simplify the financing journey for customers.
Additionally, customers have the option to apply jointly, thereby increasing the financing amount to accommodate larger purchases, making it easier to secure homes in Bareeq’s distinctive developments.
BisB Acting CEO Fatema AlAlawi expressed delight at the collaboration with Bareeq Al Retaj Real Estate to deliver an enhanced and seamless mortgage financing experience to its customers.
"At BisB, we continually strive to offer innovative and customer-centric solutions, and this agreement underscores our commitment to facilitating property possession by providing accessible financing options with compelling incentives. We look forward to supporting our customers in making their homeownership dreams a reality," he noted.
Bareeq Al Retaj’s partnership with BisB strengthens both the organisations’ shared goal of supporting the growth of Bahrain’s real estate market by offering convenient and affordable financing options, he added.-TradeArabia News Service
