Leading real estate developer Bareeq Al Retaj, with headquarters in the Kingdom of Bahrain, has teamed up with Khaleeji Bank to offer real estate financing options to Social Housing program recipients and those looking to invest in Wahati Apartments or Ras Hayan Village.
According to the agreement, one of Bahrain’s top Islamic banks, Khaleeji, will finance up to 100% of the property worth at favorable interest rates with a flexible grace period. Additionally, Khaleeji’s sharia-compliant pay account is expected to generate a profit rate of 4% of the property’s value.
Customers who use their credit cards will also receive exclusive discounts and be eligible to enter monthly draws for five prizes valued at BD1,000 ($2,634) each.
Speaking at the signing, CEO Yousif Mohamed Bucheeri said: “We are pleased to be partnering with Khaleeji Bank to offer rewarding financing solutions for customers seeking homeownership across our projects, in line with the terms and conditions of the Ministry of Housing and Urban Planning’s Social Housing program.”
“This step highlights our efforts to provide a unique and modern residential experience that meets the various needs of our customers and contributes to improving the quality of life for Bahraini citizens,” he stated.
On the collaboration, Ameera Ahmed Al Abbasi, the Head of Retail Banking at Khaleeji Bank, said: “We are enthusiastic about this collaboration with Bareeq Al Retaj, as we believe that providing flexible and suitable financing solutions enhances homeownership opportunities for citizens.”
“We are committed to supporting projects that contribute to community development and improving the quality of life, and we look forward to providing our distinguished services to our clients through this partnership,” she noted.
“At Khaleeji, we believe in the importance of contributing to building a strong and cohesive society, which motivates us to support initiatives that enhance the well-being of citizens,” said Ameera.
“Our partnership with Bareeq Al Retaj within the framework of the social housing programs embodies our firm commitment to providing accessible and equitable housing opportunities for everyone,” she added.
Ras Hayan Village, tucked away on Bahrain’s east coast and encircled by immaculate mangroves, presents a novel take on contemporary, sustainable living that blends in perfectly with the environment.
The development is ideal for families looking for a healthy mix between modernism and nature, and it is designed for those who value a close-knit community and an eco-friendly lifestyle. To meet the varied demands of its residents and provide future homeowners with various alternatives, Ras Hayan Village offers a range of RA and RHA plots, from 211 to 717 sq m.
Wahati, which is situated in the bustling Galali-Muharraq neighborhood, provides unmatched access to Bahrain’s capital, Diyar Al Muharraq, and Amwaj Islands, in addition to a wealth of entertainment and retail options.
The building offers inhabitants large, contemporary living areas with well-designed apartments that include three master bedrooms, a living room, laundry room, enclosed kitchen, housekeeping room, and parking.
Wahati is a great option for families looking for a modern, integrated lifestyle in Bahrain’s vibrant urban environment because it also satisfies the requirements of the Social Housing Finance Scheme.
Ameera claims that in addition to offering financial solutions, Khaleeji Bank helps Bahraini families create a better future by assisting in the provision of cozy, contemporary housing that satisfies their requirements and goals.
“We believe this partnership will serve as a model for cooperation between the banking and real estate sectors in achieving sustainable development goals,” she added.
