Sakana Holistic Housing Solutions, the innovative Islamic mortgage finance provider, recently signed a Memorandum of Understanding with Durrat Al Bahrain, the Kingdom’s largest luxury residential, commercial and resort development. As a preferred Islamic mortgage provider, Sakana will offer its unique range of Sharia’a-compliant products and services in order to facilitate the purchase of Durrat’s dream homes.
Sakana offers mortgage finance to investors of all nationalities residing in Bahrain, the GCC and internationally. Sakana’s association with Durrat Al Bahrain is in keeping with this broad target market as the development has positioned itself as an international residential resort. Sakana is offering investors attractive mortgage packages with a range of long-term financing options on amounts of up to BD 750,000 over up to 30-year repayment terms. The length of the repayment term is unique to the Bahrain market. Residents of Bahrain can qualify for finance of up to 90% of the property value, GCC residents up to 80% and international investors up to 70%.
Mr Jassim Al Jowder, CEO of Durrat Al Bahrain, said: “We have a clear strategy of pursuing agreements with innovative finance providers like Sakana to open up the dream of owning a home in Durrat Al Bahrain to customers in Bahrain, across the region and internationally. With an increasing range of financial solutions for our homeowners, more people can now realise the dream of living an island lifestyle in the new urban community we are creating in and around the crystal clear blue seas of southern Bahrain.”
Mr Jamal M Hijres, Sakana’s Chairman, said: ”Sakana is in the business of making mortgage finance simple. As a preferred mortgage provider for Durrat Al Bahrain, Sakana offers significant advantages for home buyers from Bahrain, the GCC and the wider international community. Bahrain is positioning itself as a haven for international property investment and this partnership agreement will further enhance the appeal of Sakana’s innovative home financing packages, which have been tailored to support this growing trend.
“The terms and conditions of our mortgage packages are extremely competitive. Customers can also take advantage of Sakana’s pre-approval by ascertaining their eligibility and then choosing the property of a lifetime at Durrat Al Bahrain.”
Sakana has acted as a catalyst in Bahrain’s real estate sector with the formation of a network of relationships in the real estate chain aimed at easing the process of home ownership. The new agreement with Durrat Al Bahrain will add to an already impressive portfolio of Sakana partnerships.
