Sakana Holistic Housing Solutions today celebrated its first anniversary by reviewing a year packed with achievements and firsts. The boutique mortgage provider has achieved its goal to provide innovative holistic housing solutions which act as a catalyst for the prosperity of Bahrain’s housing market.

Formed as the first joint venture between a Conventional and Islamic bank – namely BBK and Shamil Bank – in December 2006, Sakana’s core business is offering mortgage financing solutions that cater to individuals for residential purpose. The pioneering mortgage provider has introduced a series of firsts, including the longest mortgage term at 30 years, financing for non-residents outside GCC, Equity Release, and the highest mortgage at BD1.25 million.

“Our holistic approach, as well as simplicity and innovation in our mortgage solutions, have allowed Sakana to close its first year of operations on an extremely positive note, having helped more than 200 customers in financing their dream home,” said Mr. Jamal M. Hijres, Sakana’s Chairman.

Part of Sakana’s wider strategy is to focus on new concepts which offer an extended level of service, such as striking partnerships with companies and individuals involved in the real estate chain. Another strategy is to target property development through buying land and construction, and as well as offering a Property Consultancy service.

Mr. Hijres added: “Sakana’s aim is to broaden its portfolio quickly, sensibly and therefore profitably, striking a balance between risk versus reward, and we expect the strong demand for our products and services to continue given the high levels of activity in the Kingdom’s property market.”

Mr. R. Lakshmanan, CEO of Sakana, commented: “Starting a company from scratch as one of over dozen players in a highly competitive market was a challenge. Everyone at Sakana has worked incredibly hard to make this company a success, by ensuring that our customers receive the advice and products they need to achieve their housing goals. We are looking forward to a second year when we will be able to increase the reach and diversity of Sakana’s business even further.”

Mr. Lakshmanan thanked the shareholders, regulators, customers, partners, business associates, media and staff for their support.