× Government Healthcare Islamic Finance Oil And Gas Real Estate Technology Telecom Tourism

Al Salam hands over Diyar Al Muharraq villa under Mazaya scheme

March 30, 2021

Leading Bahraini bank Al Salam has announced the handover of the first villa to a customer in the second phase of the Deerat Al Oyoun project, located in Diyar Al Muharraq, following the recent announcement of the special financing offer under the Mazaya scheme.

This comes as part of the bank’s ongoing collaboration with the Ministry of Housing, and Eskan Bank to provide housing solutions that meet the needs of Bahraini citizens, said the Bahraini bank in its statement.

Speaking on the occasion, Minister of Housing, Engineer Bassim bin Yaqoob Al Hamar, said: 'Our ongoing collaboration with the private sector has significantly contributed to the diversity of housing projects we offer, further accelerating the provision of homes to citizens according to their needs.'

'This has been heavily supported by the financing facilities and offers we have been able to provide through our ongoing partnerships with leading banks in the Kingdom, and we are proud to collaborate with Al Salam Bank as one of the partnering banks,' he stated.

Al Salam Bank Group CEO Rafik Nayed said: 'Owing to our swift completion of financing procedures, this marks the second time in a row we have emerged as the first bank in the kingdom to handover a villa to a customer for the Deerat Al Oyoun housing project in record time.'

In addition to its strategic location in close proximity to Dragon City and other tourism and commercial destinations, the residential villas of Deerat Al Oyoun's phase two, which spans a total built-up area of 215 sq m and land area of 205 sq m, are distinguished by four prominent categories, boasting Bahraini, Modern, Spanish and Mediterranean architectural designs.

All the villas encompass comprehensive features designed to meet the needs of a modern family, comprised of 4 bedrooms and equipped with the latest facilities, he stated.

'This milestone achievement comes as a testament to our ongoing commitment to deliver exceptional customer service, all while ensuring our customer’s needs are met efficiently and effectively,' he added.

Lauding the Al Salam efforts, Dr Khalid Abdulla, the General Manager of Eskan Bank, said: 'I would like to commend the achievements of Al Salam Bank on its cooperation together with Eskan Bank and the Ministry of Housing, wishing them continued success on their unprecedented quality of service.'

Deputy CEO Anwar Murad said: 'As part of Al Salam Bank Bahrain's continuous commitment to help customers own their dream home in the Deerat Al Oyoun project, we are offering special benefits including; instant approvals on financing, the waiver of both down payment and administrative fees, and competitive profit rates.'

'Moreover, customers will get the opportunity to win back up to 6 months’ worth of instalments and the chance to win free points in the Loyalty Rewards Scheme,' added Murad.