Sakana - Press Release

SAKANA TO LAUNCH TUBLI HOMES

Haya AlKhalil — Mon, 03 Dec 2012 13:01:00 +0000

Manama, Bahrain 28 November 2012: Bahrain-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider recently signed a Memorandum of Understanding with Master Group – Bahrain (dealing in construction, properties, project management services) to provide property consulting services and home financing to Tubli Homes, a residential project consisting of 12 villas.

The 3-storey villa will have built up area ranging from 318 to 335 Sq. Mt. and will include Majlis, Living room, dining area, visitor lounge, inside and outside kitchen, 4 bedrooms, maid’s room, laundry room, 2 car ports, passenger lift, central spilt air conditioning and landscaped garden. Additionally, swimming pool is also available in some of the villas. The villa sale price starts from BD 139,000 and the project is expected be handed over by 30 Nov 2013.

Sakana will be offering attractive home finance packages for Bahraini nationals up to 90% of property value with finance term up to 30 years.

Mr. R. Lakshmanan, CEO of Sakana said: “We are pleased to partner with Master Group on Tubli Homes project which we believe is self-contained and meets the requirement of Bahraini nationals.”

Mr. Anthony John, Managing Partner, Master Group said: “Sakana is a leading provider of holistic housing solutions and we are glad to have chosen Sakana to provide their services to our valued customers. We are also pleased to announce commencement of construction of Tubli Homes.”

Tubli Homes is a thoughtfully designed villa project suiting the needs of Bahraini families who are looking for luxury lifestyle at an affordable price and located behind Ansar Gallery – Tubli, on Sh. Isa bin Salman highway.

Manama, Bahrain 28 November 2012: Bahrain-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider recently signed a Memorandum of Understanding with Master Group – Bahrain (dealing in construction, properties, project management services) to provide property consulting services and home financing to Tubli Homes, a residential project consisting of 12 villas.

Sakana will be offering attractive home finance packages for Bahraini nationals up to 90% of property value with finance term up to 30 years.

Mr. R. Lakshmanan, CEO of Sakana said: “We are pleased to partner with Master Group on Tubli Homes project which we believe is self-contained and meets the requirement of Bahraini nationals.”

SAKANA REWARDS “EMPLOYEE OF THE QUARTER”

Haya AlKhalil — Mon, 03 Dec 2012 09:04:49 +0000

Manama, Bahrain 21 Nov 2012: Sakana Holistic Housing Solutions, the Islamic mortgage finance provider announced Mr. Abdulla Ali Abdulla from the Operations department as the employee of the 3^rd Quarter of 2012 in recognition of his performance.

Sakana to showcase Fontana Towers in Kuwait International Property Show (KIPS 2012)

Haya AlKhalil — Wed, 19 Sep 2012 12:06:14 +0000

Sakana Holistic Housing Solutions , Bahrain the innovative Islamic mortgage finance provider recently signed an agreement with Top Expo Group, Kuwait confirming participation in the forthcoming Kuwait International Property Show (KIPS 2012) which will be held from 24^th to 29^th September 2012 at Kuwait International Fair Center, Meshrif, Kuwait.

Sakana will be showcasing exclusively Fontana Towers - an exclusive luxurious living on the Juffair waterfront, Bahrain comprising of 400 freehold apartments. Sakana will be offering mortgage financing up to 80% of the property value subject to maximum BD 350,000 and up to 25 years term for GCC residents.

Mr. R Lakshmanan, Chief Executive Officer, Sakana said: "We are delighted to participate in KIPS 2012 and showcase Fontana Towers which offers a distinct lifestyle above the ordinary and ready to live. We are aware that Kuwaiti nationals and companies have been major investors in Bahrain real estate market and we believe this development will generate considerable interest from them. "

Fontana Towers is a residential freehold tower designed with a blend of sophistication and elegance and a symbol of luxury and modern living with 400 freehold apartments studios, 1, 2 and 3 bedroom apartments and exclusive penthouses in 4 interconnected skyscrapers. Features include exclusive male and female fully equipped gym, indoor pool, Jacuzzi, communal outdoor swimming pool with sundeck, health club, spa, courts for tennis, basketball, squash, indoor games room, kids play area children gaming zone, mini-theatre, private café, multi-purpose halls, fully equipped business centre and convenience stores.

SAKANA REWARDS “EMPLOYEE OF THE QUARTER”

Haya AlKhalil — Mon, 13 Aug 2012 09:58:52 +0000

Sakana Holistic Housing Solutions, the Islamic mortgage finance provider announced Mr. Ebrahim Mohammed Al Mutawaa from the Risk Management & Compliance Department as the employee of the 2^nd Quarter of 2012 in recognition of his performance.

-Ends-

Photo: R to L: Mr. Khalid Al Balushi, HR Manager, Mr. Ebrahim Al Mutawaa risk Management & Compliance Supervisor and Mr. R. Lakshmanan, Sakana’s Chief Executive Officer.

SAKANA HELD IT SECURITY TRAINING

Haya AlKhalil — Tue, 24 Jul 2012 10:40:57 +0000

Sakana Holistic Housing Solutions recently held IT Security Awareness training session for its employees and the program was conducted by Mr. Ashish Sharma, Director & Practice Head of Secureitlab

SAKANA IMPLEMENTS CHEQUE RECEIVABLES SYSTEM

Haya AlKhalil — Tue, 19 Jun 2012 12:02:00 +0000

Sakana Holistic Housing Solutions, the Islamic mortgage finance provider successfully implemented the Cheque Receivables System (CRS) from Rsquare Technologies W.L.L the innovative IT Solutions Company based in Bahrain.
This robust front office system will automate printing of post dated cheques submitted by Sakana's customers towards repayment of mortgage monthly installments thereby eliminating the process of manual writing of cheques, saving precious time of customers and reducing human errors. CRS is completely flexible to print on the new format of cheque leaves issued by banks in Bahrain. Further it can also provide automated receipts to customers acknowledging receipt of repayment cheques.

Mr. R. Lakshmanan, CEO of Sakana said:” We are delighted to partner with Rsquare Technologies WLL and believe CRS will assist in enhancing Sakana’s customer service and also enable efficient control over utilization of customer repayment cheques.”

Mrs. Shanthini Raja, Managing Director of Rsquare said:” We are pleased to work with Sakana in implementation of CRS product which we believe is unique. Our dedicated team worked hard to successfully implement the project on time and ensure user flexibility is available.”

*Photo: R to L: Mr. Ajit Pai, Senior Manager- Finance, Operations & IT (Sakana), Mr. R. Lakshmanan, CEO (Sakana), Mrs. Shanthini Raja, Managing Director (Rsquare), Mr. Senthilarasan, Senior Analyst Programmer (Rsquare).

Sakana signs Partnership with AIESEC in Bahrain

Haya AlKhalil — Thu, 07 Jun 2012 08:55:00 +0000

Bahrain-based Sakana Holistic Housing Solutions and AIESEC in Bahrain signed a Memorandum of Understanding today by which the company participates in promoting leadership skills as a silver partner to the AIESEC YouLead Workshop series.

The agreement was signed by Mr. R Lakshmanan, Chief Executive Officer of Sakana and Sabeeka Al Shamlan, Director of Business Development on behalf of AIESEC in Bahrain.

The AIESEC YouLead workshop series offers university students a chance to take part in week-long workshops to develop their entrepreneurial leadership skills and self-awareness.

The sessions are conducted by two international facilitators who have training skills with a background of project management through their global internship programme.

FONTANA TOWERS AVAILABLE FOR LIVING

Haya AlKhalil — Sun, 27 May 2012 09:02:59 +0000

Fontana Towers – an exclusive luxurious living on the Juffair waterfront was officially opened for living by H E Sheikh Hisham Abdulrahman Al Khalifa, Governor, Ministry of the Interior Capital Governorate in the presence of selected invited guests media, business partners, Sakana’s Board members and Directors of The Developers WLL (Project Developer) Mr. Abdulghaffar Al Kooheji, Mr. Anayat Jaberi Jamal and Mr. Abdrabalnabi Ahmed Almaa.

Fontana Towers is a symbol of luxury and modern living comprising four towers and 400 apartments comprising studios, one, two and three bedroom apartments and exclusive penthouses in four interconnected skyscrapers. The project value is approximately USD 136 Million. Fontana’s features include ladies spa, temperature controlled indoor pool, hydrotherapy pool, communal outdoor swimming pool with sundeck, health club, tennis, basketball and squash courts, indoor games room, kids play area, mini-theatre, restaurant, fully equipped business centre and convenience stores.

Mr. Abdul Ghaffar Al Kooheji, Director, The Developers WLL said: “We are extremely grateful to H E Sheikh Hisham Abdulrahman Al Khalifa to grace this momentous occasion and open Fontana Towers for living. We take this opportunity to thank the contractors, suppliers and business partners who have completed the project successfully despite delays due to challenging market conditions over the past few years.

We are very pleased to have set a new benchmark in property development with Fontana Towers adding to the sky line of Bahrain. We believe the development will be a popular choice for Bahrainis, Expatriates and GCC nationals. We are thankful to Sakana Holistic Housing Solutions, for providing property consulting service and mortgage finance to this project. We also thank our guests and media for gracing our opening ceremony. We are very grateful to the government authorities for providing utmost support and cooperation during construction of the development.”

SAKANA PROVIDES FINANCE FOR KAZEROONI VILLAS

Haya AlKhalil — Wed, 23 May 2012 12:09:45 +0000

Sakana Holistic Housing Solutions the innovative Islamic mortgage finance provider recently signed a Memorandum of Understanding with ARK Holding to provide home financing for ready to move in super deluxe luxury Kazerooni Villas located near St. Christopher’s School, Saar.

The project comprising of 10 villas each with built up area of approx. 550 Sq M is developed and promoted by Kazerooni Contracting WLL and offered for sale to Bahrainis and other GCC nationals at BD 285,000/- and above depending on plot size and location. The villas are being offered by the developer with first of its kind buy back guarantee to repurchase at the end of five years subject to terms and conditions.

Sakana will be offering customers finance up to 90% property value subject to maximum BD 350,000 and repayment term up to 30 years.

Mr. R Lakshmanan, CEO of Sakana said: “We are pleased to associate with Kazerooni Contracting and offer mortgage financing for such a high quality development which is available ready to move in.”

Mr. Hussain Kazerooni, Managing Director of Kazerooni Contracting W.L.L said: “We are delighted to partner once again with Sakana and offer our valued customer financing options for their dream home. In addition, our first of its kind buy back guarantee should provide peace of mind to customers and we believe the development will be a popular choice for GCC nationals to purchase and expatriates to lease.”

Kazerooni Villas offers very spacious living and dining area along with 6 bedrooms with attached bathroom and dresser with fully fitted wardrobes. The villa also offers internal kitchen, external kitchen, two kitchenette all with Bosch appliances, servant and driver room, laundry and store areas, private swimming pool, landscaped lush garden and 2 car ports. The villas are available in various plot sizes from 401 Sq M to 415 Sq M and located near St. Christopher’s School, Waitrose, cafes and other services in Saar. Kazerooni Contracting WLL is owned by ARK Holding, Bahrain.

SAKANA STRENGTHENS CORPORATE GOVERNANCE

Haya AlKhalil — Sun, 13 May 2012 10:44:34 +0000

Sakana Holistic Housing Solutions - the Islamic mortgage finance provider held a Board meeting on 30 April 2012 wherein it inducted two additional Board of Directors Mr. Abdulellah Ebrahim Al-Qassimi and Mr. Yusuf Ali Isa Muqla Al Kawari as part of strengthening Corporate Governance in line with the Corporate Governance Code of the Kingdom of Bahrain issued by the Ministry of Industry and Commerce and Central Bank of Bahrain regulations.
Mr. Al-Qassimi and Mr. Al Kawari joined as independent and non-executive Director and with this addition total number of Board members at Sakana will be seven including three independent and non-executive.
Mr. Al Qassimi, Bahraini national holds a Bachelors Degree in Civil Engineering and Masters Degree in Health Facility Planning both from the University of London. Mr. Al-Qassmi has a wealth of public and private sector expertise encompassing engineering, management, facility planning, training and labour. Mr. Al-Qassimi’s past positions include Chief Executive of Tamkeen, Assistant Undersecretary for Training at the Ministry of Labour, Director of Engineering & Maintenance at the Ministry of Health. Mr. Al-Qassimi is currently a Board member at number of organizations including Bahrain Development Bank, Tamkeen and American Mission Hospital.
Mr. Al Kawari, Bahraini national holds a Bachelors Degree in Science with distinction from University of Bahrain, Certified Public Accountant (CPA) from the State of California, USA, Masters Degree in Investment and Finance with distinction from University of Exeter, UK. Mr. Al Kawari also completed Executive development program from Darden Business School, University of Virginia, USA. Mr. Al Kawari is an expert in finance, accounting, investments, strategic planning, human resources, IT and project management. Mr. Al Kawari has worked in variety of roles with number of leading organizations in Bahrain including Chief Financial Officer at Manara Real Estate Company, Senior Manager - Financial Services & Support at Batelco, System Development Analyst at Ministry of Finance and National Economy. Mr. Al Kawari was also a part time lecturer for accounting and finance at BIBF and University of Bahrain.

Mr. Reyadh Yousif Sater, Chairman, said “On behalf of the shareholders and Board members, I welcome Mr. Abdulellah Al-Qassimi and Mr. Yusuf Muqla Al Kawari to Sakana’s Board and wish them good luck in their new roles. Mr. Al-Qassimi and Mr. Al Kawari are well qualified and their invaluable experience will help us to navigate the company during these challenging market conditions. Their appointment will also strengthen the company’s corporate governance framework in line with current regulations. I also take this opportunity to thank the Central Bank of Bahrain for their continued support and cooperation.”