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Khaleeji Commercial Bank signs a MoU with Bin Faqeeh Real Estate Investment Company

At the Gulf Property Show 2017
Khaleeji Commercial Bank signs a MoU with Bin Faqeeh Real Estate Investment Company

Manama, 11th May, 2017: Khaleeji Commercial Bank (KHCB), one of Bahrain's leading Islamic banks, has announced the signing of a Memorandum of Understanding with Bin Faqeeh, a leading Bahrain-based privately-owned real estate investment company. Through this MoU, KHCB will provide potential buyers with customized financial solutions for the purchase of residential units in the upcoming “ALSIDRA” project which is located at Diyar Al Muharraq.

Commenting on this occasion, Mr. Khalil Ismail Al Meer, CEO of KHCB, said "It is our pleasure to sign this MoU with Bin Faqeeh, a leading real estate investment company. This affirms our keenness to play a principal role in the development of real estate sectors in the Kingdom. KHCB continuously work towards strengthening the relationship with real estate providers in the Kingdom of Bahrain. This comes as part of our commitment in providing and assisting citizens and potential customers with financial solutions that cater to their needs and suit their financial abilities, in terms of convenient housing facilities".

Mr. Al Meer added "KHCB has currently signed various MoUs with a number of local real estate developers to provide personalized financial housing solutions. This move taken by the bank has proved extremely beneficial for potential customers where a variety of real-estate purchases have been funded by the bank through well-thought out and strategic financing techniques that comply with the Shari'a principles".

From his side, Mr. Faisal Faqeeh, Chairman of Bin Faqeeh Real Estate Investment Company said “We are delighted to sign this partnership with KHCB, and we are looking forward to meeting the customers' expectations in providing them with premium quality residential units at affordable prices. This MoU will play a great role in boosting confidence in the real estate sector. Bin Faqeeh has become a leading real estate developer in the region and it has always been eager to implement best international practices. Today, this initiative will enhance buyers’ and investors’ confidence in the real estate market.

“ALSIDRA is one of the most successful housing projects and it is compatible with the Social Housing Finance Scheme. The project was planned to be the perfect home for families of all sizes bringing them closer together with its community ambience. This particular community development seeks to embrace and nurture a welcoming environment for families to settle in and grow” Mr. Faqeeh added.

ALSIDRA is an impressive luxury villa community located at Diyar Al Muharraq offering an astonishing 453 villas of varying designs and capacities. It provides 2 BR, 3 BR, 4 BR and 5 BR villas that draw the perfect home for families of all sizes.

The villas are either modern or a modern version of traditional designs. ALSIDRA presents a unique concept of blending regional Bahraini, Moroccan, Modern (two types) and Contemporary designs that offer a plethora of choices to interested buyers to opt for a villa design closer to their vision of their dream home. Each villa comes equipped with a garage that has space for two vehicles, living quarters for house keepers and a laundry room. Certain signature villas are fitted with a personal swimming pool as well. The project is to be completed by the 1st Quarter of year 2019 with a valuation of BHD 85 Million.

For more information on how to apply for KHCB's Financing Solutions, please contact Khaleeji Commercial Bank Call Centre on +973 17540054 or visit any of the bank’s branches across the Kingdom of Bahrain.