Al -Baraka Islamic Bank, Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, recently announced the strengthening of its partnership with the Dilmun Real Estate Gate Company, one of the leading real estate development companies in the Kingdom, with the aim of providing the necessary funds to enable citizens to buy housing units in the company’s projects. The signing ceremony took place at the headquarters of the Islamic Bank of Al -Baraka in the Gulf of Bahrain, where Mr. Mazen Dhaif, Head of Banking Services for Individuals at Al Baraka Islamic Bank, and Mr. Ali Abdullah, CEO of Dilmoun Real Estate Gate Company signed the agreement, in the presence of a number of managers and officials from both sides.
Within the framework of Al -Baraka Islamic Bank’s keenness to meet the increasing residential needs of citizens and enhance the integration of the banking and real estate sector, this existing partnership between the two parties aims to enable a broader segment of citizens to acquire housing units in the projects of the Dilmoun Real Estate Gate Company by providing soft and varied financing solutions, in line with their capabilities and material needs. This initiative is in harmony with the efforts of the Kingdom of Bahrain to provide a decent living and the appropriate housing for every citizen by supporting the social housing initiatives of the Ministry of Housing and Urban Planning and the Housing Bank, in order to achieve the goals of Bahrain Economic Vision 2030.
The bank provides a set of distinctive real estate financing solutions that are carefully designed to suit the different needs of customers, as this includes flexible real estate financing that allows the amendment of the profit rate every six months according to the rate of changing return between banks in Bahrain, which gives customers the ability to benefit from the low rates if they decline and flexibility in enduring possible altitudes. In addition, the bank provides social housing financing, which includes the newly released+ facilitation financing, which allows customers to financing up to 91 thousand Bahraini dinars with a package of privileges that depend on the monthly income of the beneficiaries, which ranges between 600 and 1200 Bahraini dinars, in a manner that guarantees the speed of procedures and meets the various conditions of customers, as well as another package of financing solutions that were designed to cover the needs of families The different Bahraini.
This initiative contributes to creating a stimulating financing and real estate environment that supports social and economic stability, as the launch of these programs contributes to stimulating the real estate sector and encouraging developers to offer projects that meet residential aspirations in terms of quality, spaces and competitive prices, taking into account environmental and societal considerations to ensure the achievement of sustainable development. The partnership also seeks to strengthen the role of the real estate sector as a major engine for economic growth in Bahrain by increasing housing ownership rates, and opening new investment channels for citizens and residents, which contributes to achieving a balance between supply and demand in the real estate market and stimulates the private sector to participate effectively in achieving the target of Bahrain Vision 2030.
On this occasion, Mr. Mazen Dhaif, head of banking services for individuals at Al Baraka Islamic Bank, said: “We are pleased to enhance our partnership with the Dilmoun Real Estate Gate Company, where this step embodies the bank’s keenness on
Implementing the directives of the rational leadership and supporting government efforts aimed at providing a decent living and the appropriate housing for every citizen in the Kingdom of Bahrain, as we believe that the citizen’s security and family and social stability are fixed principles that we do not give up, so we designed a set of innovative real estate financing solutions that keep pace with the real needs of Bahraini families that include financing for the purchase of ready -made houses for housing, financing to buy land and building a life house as one of the most prominent funds Which the bank is unique in providing customers .. This comes within the framework of the bank’s endeavor to enhance its role in advancing economic growth and providing an attractive investment environment for the real estate sector with the effective contribution to achieving the goals of the economic vision by creating a balanced and sustainable living environment that achieves the maximum luxury of citizens and ensures the continuity of development in the long term. ”
For his part, Mr. Ali Abdullah, CEO of the Dilmoun Real Estate Gate Company, commented: “Our existing partnership with Al Baraka Islamic Bank comes out of the Dilmun Real Estate Portal’s keenness to enhance its role as a major contributor to urban and social development in the Kingdom, and we have worked to expand the scope of housing investment options and develop projects that meet the aspirations of Bahraini families in terms of quality, location and price. We believe that expanding this partnership The strategy will provide citizens with a real opportunity to possess housing that corresponds to their requirements and guarantees them a stable future, as it reflects our company’s commitment to providing sustainable and innovative housing and supports the national economy by creating an integrated system that combines banking and real estate capabilities. “
Al -Baraka Islamic Bank is considered one of the most prominent Islamic banks in the Kingdom of Bahrain and has succeeded since its inception in 1984 in achieving distinguished results in its operations and services provided to its individuals and companies, and it has a busy record in the field of innovation and the development and provision of unique solutions for financing and investment in line with the provisions of Islamic Sharia, and it occupies an advanced position among the leading banks that provide Islamic banking products and services to a large number of international customers.
