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Al Salam Bank signs finance deal for Era Projects properties

June 13, 2021
banking

Bahrain-based Al Salam Bank said it has recently signed a MoU with Era Projects real estate company to provide special property financing facilities for villas in the Era Homes project, located in Diyar Al Muharraq.

The MoU outlines Al Salam Bank’s provision of property financing facilities to customers interested in purchasing a home in the project, offering notably competitive profit rates and flexible terms to applicants.

Eligibility to apply is open to all Bahraini citizens, Mazaya Scheme beneficiaries, GCC residents, as well as expatriates given the freehold nature of the project.

On the key agreement, Al Salam Bank Deputy CEO Anwar Murad said: 'We are pleased to enter this agreement with Era Projects to provide unmatched property financing facilities for the Era Homes project in Diyar Al Muharraq, ultimately enabling residents to own homes with ease.'

'We look forward to continuing to build on our partnership with one of the most reputable real estate developers in the kingdom, in a joint effort to accelerate and streamline customers property financing needs at accessible prices,' he remarked.

Murad said this partnership with Era Projects provides customers access to residential investment opportunities within reach with the villa units boasting a starting price of BD107,000 ($282,144).

'This comes in line with our ongoing commitment to provide our customers accessible financing solutions, and effectively serving them in their endeavour to purchase a home,' he added.

Era Projects CEO Abdul Hussain Khudur said: 'Through this Al Salam Bank deal, we are ensuring customers benefit from flexible financing facilities, thus enabling them to purchase their dream home at Era Homes.'

The Era Homes project comprises 113 two-storey villas starting at 200 sq m, with a built-up area of 330 sq m.

All villas in the Phase I have completed the requisite infrastructure works and are due for handover, it added.

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