Eskan Properties Company, which is 100 per cent owned by Bahrain’s Eskan Bank, is showcasing Danaat Al Lawzi, a major affordable housing project, at the Gulf Property Show, which opened in Bahrain today.

Located west of Hamad Town in the Northern Governorate with a total land area of 106,713 sq m, the development will consist of 303 villas, says Eyad D Obaid, general manager, Eskan Properties.

Danaat Al Lawzi residential project is likely to be completed in the second quarter of 2019. The project is part of 2,500 social units committed by the Ministry of Housing under the public-private partnership (PPP) model.

The project is being built for beneficiaries of ‘Mazaya’, the social housing finance scheme between the Ministry of Housing and Kuwait Finance House-Bahrain, whereby beneficiaries have the opportunity to own their dream home through a real estate finance facility subsidised by the Government of Bahrain, explains Obaid.

While the current market conditions are tough, there certainly is pent-up demand for affordable/social housing and accordingly these conditions present an opportunity to excel and play a role in the overall revival of the economy, he says.

The real estate sector is stable and good, which will have a positive effect on the economy and other sectors, he says. 

Established in March 2007, Eskan Properties Company assists the Eskan Bank’s business divisions, subsidiaries and associates in developing social and affordable housing, community and commercial and touristic developments.

Its multidisciplinary expertise embraces the entire real estate value chain, with a range of services including project assessment, design management and planning, project development management, quantity surveying, sales and marketing, and property and facilities management.

The company's vision is to be recognised as a premier real estate development company, through innovation, financial discipline and above all, exceptionally talented people. Working closely in partnership with the private sector, it has developed a wide-ranging consultant network, which provides additional expertise such as feasibility studies, urban development, land assessment, architecture, design and construction.

Underlined by a proven track record of integrity and financial strength, Eskan provides a value-added advantage for today's demanding corporate and individual clients.

The company consistently identifies and aggressively pursues development opportunities in key geographic markets and areas, by which to build and strengthen its reputation as a respected real estate developer in Bahrain. To date, it has completed projects across Bahrain covering residential, commercial, retail, community projects and tourism developments. – TradeArabia News Service