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As per the deal, Khaleeji will provide financing of up to 100% of the property value at competitive profit rates and a flexible grace period
Bareeq Al Retaj, a leading real estate development company based in the Kingdom of Bahrain, has partnered with Khaleeji Bank to deliver real estate financing solutions to beneficiaries of the Social Housing programs, as well as individuals seeking to invest in Wahati Apartments or Ras Hayan Village.
As per the deal, Khaleeji, one of Bahrain’s leading Islamic Banks, will provide financing of up to 100% of the property value at competitive profit rates and a flexible grace period, as well as a projected profit rate of 4% of their salary value from Khaleeji’s sharia-compliant salary account.
Customers will also get to qualify for monthly draws on five prizes worth BD1,000 ($2,634) each, in addition to obtaining special discounts when shopping with their credit cards.
Speaking at the signing, CEO Yousif Mohamed Bucheeri said: "We are pleased to be partnering with Khaleeji Bank to offer rewarding financing solutions for customers seeking homeownership across our projects, in line with the terms and conditions of the Ministry of Housing and Urban Planning’s Social Housing program."
"This step highlights our efforts to provide a unique and modern residential experience that meets the various needs of our customers and contributes to improving the quality of life for Bahraini citizens," he stated.
On the collaboration, Ameera Ahmed Al Abbasi, the Head of Retail Banking at Khaleeji Bank, said: "We are enthusiastic about this collaboration with Bareeq Al Retaj, as we believe that providing flexible and suitable financing solutions enhances homeownership opportunities for citizens."
"We are committed to supporting projects that contribute to community development and improving the quality of life, and we look forward to providing our distinguished services to our clients through this partnership," she noted.
"At Khaleeji, we believe in the importance of contributing to building a strong and cohesive society, which motivates us to support initiatives that enhance the well-being of citizens," said Ameera.
"Our partnership with Bareeq Al Retaj within the framework of the social housing programs embodies our firm commitment to providing accessible and equitable housing opportunities for everyone," she added.
Nestled along Bahrain’s east coast and surrounded by pristine mangroves, Ras Hayan Village offers a fresh perspective on sustainable modern living, seamlessly integrated with nature.
Designed for those who value a close-knit community and an eco-friendly lifestyle, the development is perfect for families seeking a harmonious balance between modernity and nature. Ras Hayan Village features a variety of RA and RHA plots, ranging from 211 to 717 sq m catering to the diverse needs of its residents and offering flexible options for future homeowners.
Located in the vibrant area of Galali - Muharraq, Wahati offers unparalleled access to Bahrain’s capital, Diyar Al Muharraq, and Amwaj Islands, as well as numerous entertainment and shopping destinations.
The project features thoughtfully designed apartments with three master bedrooms, a living room, laundry room, enclosed kitchen, housekeeping room, and parking, providing residents with spacious and modern living spaces.
Wahati also meets the criteria of the Social Housing Finance Scheme, making it an ideal choice for families seeking a contemporary and integrated lifestyle within Bahrain’s dynamic urban landscape.
According to Ameera, Khaleeji Bank not only provides financial solutions here, but also contributes to building a better future for Bahraini families by helping provide comfortable and modern housing that meets their needs and aspirations.
"We believe this partnership will serve as a model for cooperation between the banking and real estate sectors in achieving sustainable development goals," she added. |
