Manama: Bahrain Islamic Bank (BisB) has signed an agreement with Kingdom Properties Real Estate S.P.C. to provide property financing for potential residents of the Janayin Al Hamala Project, enabling Bahraini nationals working in the Kingdom to pay the down payment starting from only 5% of the units that will be selected within Janayin Al Hamala Project, and the Mazaya program as per the Ministry of Housing’s regulation.
“We are pleased to sign this agreement with Kingdom Properties Real Estate S.P.C, which aims to facilitate the purchase of Janayin Al Hamala’s units for potential residents. This comes in line with our aim to continue to offer a flexible range of financing solutions to suit our clients’ needs,” Dalal Al Qais, General Manager of Retail Banking of BisB, said.
“Mazaya” is considered one of the Ministry of Housing’s leading initiatives, which was developed in cooperation with the private sector in order to provide suitable housing for citizens. “Mazaya” has witnessed remarkable success as a key social housing finance scheme since its official launch in September 2015. In view of its established partnerships with various banks and real estate development companies, it has allowed citizens and existing applicants for housing schemes to benefit from the program in order to purchase suitable housing units.