The National Bank of Bahrain (‘NBB’) announced that it has signed a memorandum of understanding (‘MoU’) with GFH Properties, the real estate arm of GFH Financial Group (‘GFH’), to offer special rates on the developer’s residential properties across the Kingdom.
The MoU comes as part of NBB’s commitment towards providing its customers with the latest housing solutions, aimed towards fulfilling NBB’s national responsibility and enriching the lives of generations.
The agreement offers up to 90% mortgage financing on selected GFH Properties apartments, as well as extremely competitive interest rates starting from 4.75%, for up to 25 years. Furthermore, NBB customers can also enjoy faster and more convenient processing times for their loan request applications.
Commenting on the agreement, Subah Al Zayani, Chief Executive – Retail Banking at NBB, said: “It is our pleasure at NBB to continue to serve the needs of our customers and put their requirements first, as part of our promise to remain closer to them. The agreement between GFH Properties and NBB falls under our ongoing efforts to support the Kingdom’s vision by providing Bahrainis with facilitated housing solutions, allowing them to own their dream homes. We remain committed to our role as a national bank of choice to enhance the community in which we operate by providing easier, more accessible options and services to our customers.”
Salah Sharif, Vice Chairman of GFH Properties, said: “The mortgage scheme for new investors will make their financing requirements effortless. The programme is available for new homes at one of the most desirable destinations in the city including the Harbour Row and Harbour Heights, which are conveniently located in Bahrain Financial Harbour and have world-class amenities that add to the quality of life of the residents.”
“We are confident that this partnership will also go a long way in positively contributing to the future growth of the Real Estate sector in Bahrain,” he stated.