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NEWS
BBK announces the launch of special offers to finance the purchase of Danaat Al Lawzi villas through “Mazaya”.
10 Nov 2020
BBK, Bahrain’s pioneer in retail and commercial banking continues to present its customers with the best financing offers, the latest being a special offer, in collaboration with the Mazaya financing scheme for Social housing, , offered by the ministry of Housing and Eskan Bank.
Through this new offer, eligible Bahraini nationals of the Mazaya Financing Scheme will be able to purchase their first home in Danaat Al Lawzi development project, at a very special financing interest rate.
On this special occasion, His Excellency Eng. Bassim bin Yaqoub Al Hamar, Minister of Housing praised the role BBK is playing in supporting the objectives of the Ministry of Housing and providing financing solutions for yet another housing project through the Mazaya Program.
His Excellency added, “We are constantly seeking, through close cooperation with private sector institutions, to enable citizens to benefit from the Mazaya program in order to obtain appropriate financing solutions to purchase social housing villas. We hope to continue this fruitful cooperation with everyone in order to support the Kingdom’s housing goals and the economy as a whole.”
Dr. AbdulRahman Saif, Group CE, BBK said: “BBK recognizes the importance of its role in this key government initiative by providing finance to eligible applicants of the Mazaya Financing Scheme. We are pleased with this continuous collaboration with the Ministry of Housing and Eskan Bank in this specially developed project. Finance from BBK offers applicants the option of repayment over a period of up to 25 years with no down payment. Customers will also be able to obtain additional finance, to cater for other associated requirements, to be paid over 20 years with an optional grace period and the ability to make partial payment at any point in time with no additional cost”.
Danaat Al Lawzi development project covers a total area of 107 thousand m² and is located west of Hamad Town, close to a natural lake. It comprises of 303 villas and a community center, and is developed in collaboration with the Ministry of Housing and Eskan Bank, specifically for beneficiaries of the Mazaya Financing Scheme.
Dr. Adel Salem, General Manager of the Retail Banking Division at BBK commented: “The Bank strives to provide financing solutions for its customers and therefore took part in the Mazaya Financing Scheme. We, at BBK, are proud to participate in financing our valued customers to own their dream home in Danaat Al Lawzi development project. Earlier this year, we had also offered special financing for Mazaya Scheme beneficiaries who were interested in the Deerat Al Oyoun development in Diyar Al Muharraq”.
Dr. Khalid Abdullah, General Manager of Eskan Bank added: “Our fruitful collaboration with BBK and their continuous support of the government’s efforts represented by the Ministry of Housing will enable us to serve our clients, the beneficiaries of the Mazaya scheme to obtain the appropriate financing they need to purchase villas in social housing projects”.
”Eskan Bank is keen to establish its current and future projects according to concepts that support building sustainable societies characterized by social cohesiveness in a modernized setting that provides Bahraini families with a comfortable social environment that meets the need and ability of every family.” He added.
For more information on BBK Property Financing offering, please contact the Call Centre on 17207777 and BBK employees will be pleased to be of assistance.
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