BBK, Bahrain’s pioneer in retail and commercial banking, announced today that it has signed a Memorandum of Understanding (MOU) with Diyar Al Muharraq, commencing a strategic partnership agreement, through which BBK will provide mortgage financing to the customers of the “Al Bareh” project.
Considered to be one of the most progressive urban developments in the Kingdom of Bahrain, Diyar Al Muharraq is a fully integrated modern city which includes a vast variety of residential and commercial properties, ideal for both personal and investment purposes. Under the terms of the agreement, customers of “Al Bareh” project who require funding in the form of mortgage loans will be advised to consider BBK as the end user funding partner.
Announcing the strategic partnership, Mr. Reyadh Sater, BBK’s Chief Executive, said: “In our continuous efforts to provide our customers with the best services, we are pleased to enter into this strategic partnership with Diyar Al Muharraq, a reputable Real Estate company which has been in the business of developing a fully integrated model city, providing state of the art residential solutions which our customers can benefit from. In return, customers from all nationalities residing in the GCC who wish to own a property in “Al Bareh” project will enjoy excellent repayment structures at competitive interest rates and loan terms from BBK.
Dr. Maher Al Shaer, the Chief Executive of Diyar Al Muharraq, said: “We are delighted to establish this partnership with a renowned bank such as BBK which is a step towards an era of convenience for our customers where we aim to provide the best residential solutions at affordable prices for those who wish to own a property in the “Al Bareh” project. With that, we are looking forward to many more collaborations with the Bank.
Customers who are interested to own a residential property in the “Al Bareh” project are welcome to apply for a mortgage loan with BBK.