Diyar Al Muharraq, a leading urban developer in Bahrain, has signed a financing agreement with Kuwait Finance House-Bahrain (KFH-Bahrain) that will facilitate the purchase of residential units in its Al Bareh project by prospective owners.

 

The agreement covers both the plots and villas that are still available for sale, the company said.

 

The signing of the memorandum of association took place between the chief executive officer of Diyar Al Muharraq, Dr Maher Al Shaer, and the Executive Manager of Retail Banking Group at KFH-Bahrain, Khalid Rafea, along with Subah Al Zayani, Deputy Head of Retail Banking Group at KFH-Bahrain, in the presence of high-level officials from both sides.
 

Under the agreement, Kuwait Finance House will provide financing facilities to prospective customers who wish to purchase the properties in the Al Bareh Project that have not yet been sold, said a statement from the developer.

 

Al Bareh is one of the leading projects in Diyar Al Muharraq. It is a sophisticated residential community situated in a prime location on the west of the master-planned development, granting inhabitants with both a majestic seafront view and a prime view of the main canal, it stated.

 

The project offers both plots with different sizes as well as luxurious villas with a variety of designs to suit different tastes and needs, making it an ideal choice for a wide range of clientele, it added.

 

Dr Al Shaer said: “It is indeed a pleasure to witness the signing of this agreement today which reiterates the high priority that we have given to both one of our most prominent residential projects and to catering to the financial requisites of prospective homeowners within the development. And to be able to partner with a financial institution that is as distinguished as KFH-Bahrain is an immense benefit to both us as a company and to those who wish their properties to be financed.”

 

"Upon completion, Al Bareh is poised to make a substantial impact on Diyar Al Muharraq as a whole by augmenting its expansive range of residential offerings and to have an institution such as KFH-Bahrain, which is at the forefront of the Banking and Finance Industry in the kingdom, finance the sale of its properties, guarantees delivery on the promise of success that it holds," he added.-

TradeArabia News Service