Bank of Bahrain and Kuwait (BBK), Bahrain’s pioneer in retail and commercial banking, announced today that it has signed a memorandum of understanding (MoU) with Eagle Hills Diyar, commencing a strategic partnership agreement through which BBK will provide mortgage financing to the customers of Marassi Al Bahrain.
Eagle Hills, an Abu Dhabi-based private real estate investment company, is considered one of the largest foreign direct investors in the Kingdom of Bahrain. Alongside its partnership with Diyar Al Muharraq, the development of Marassi Al Bahrain is set to be one of the most iconic city destinations in the country. Under the terms of the agreement, Marassi Al Bahrain customers who require funding in the form of mortgage loans will be encouraged to consider BBK as the end user funding partner.
Announcing the strategic partnership, Mr. Mohammed Malik, BBK’s Deputy Chief Executive, said: “Our customers deserve the best in services. As such, we are pleased to enter into this strategic partnership with Eagle Hills Diyar, a renowned real estate company that develops iconic city destinations, and provides modernised residential solutions our customers may benefit from. In return, all home buyers residing in the GCC who wish to own a property in Marassi Al Bahrain will enjoy excellent repayment structures at competitive interest rates and loan terms from BBK.”
Dr. Maher Al Shaer, Managing Director of Eagle Hills Diyar, said: “We are proud to establish this partnership with a reputable bank such as BBK, representing a step towards a new age of luxury for our customers. Our main goal is to combine our offers at Marassi Al Bahrain with the financial solutions offered by BBK to provide the best residential solutions at affordable prices for those wishing to own a property in the project. We hope this partnership marks a beginning for many more collaborations with the bank.”
Madappa Palachanda, General Manager of Eagle Hills Diyar, commented: “This partnership was conceived with home buyers in mind who are seeking optimal financial and payment plan solutions. Marassi Al Bahrain sets out to be the iconic destination in Bahrain, and with the BBK collaboration, owning a dream home is made much easier.”
Customers interested in owning a residential property in Marassi Al Bahrain are encouraged to apply for a mortgage loan from BBK.