The National Bank of Bahrain (NBB) has announced the official handover of the first villas within the Suhail real estate development project, the first of many projects under the Government Land Development Programme. The Suhail real estate development was announced at the 2nd Housing Finance Exhibition which was hosted and organised by the Ministry of Housing & Urban Planning, in collaboration with Eskan Bank.
NBB is one of the main providers of social housing financing solutions, which includes Tas’heel finance, Mazaya, and Mazaya 2.0. In line with the bank’s commitment towards financing social housing and relevant real-estate projects, NBB extended its partnership with the Ministry of Housing & Urban Planning by supporting the latest project “Suhail” which provides Bahraini citizens with home financing solutions so they can fulfil their housing aspirations.
The Suhail real estate project contains a total of 132 stunning residential villas, designed and constructed to the very highest standards by Al Namal Contracting & Trading Co. W.L.L. All the villas are listed at BHD 99,000, have three bedrooms and include a maid’s room. The residential project is complemented by new infrastructure which ensures accessibility and provides all the necessary amenities. The properties in the Suhail development are exclusively available to Bahrainis participating in the Ministry of Housing and Urban Planning scheme.
Dr Khalid Abdulla, General Manager of Eskan Bank said; “We are proud to hand over the batch of villas with NBB, one of our leading partners. Social housing programmes remain an integral part of the real estate solutions we offer. We work closely the Ministry of Housing and Urban Planning to launch housing programmes with modern and integrated facilities, thereby facilitating Bahraini families’ access to their dream homes. As such, we are pleased to successfully complete the issuance of land titles to all our customers. We also seek to enhance our portfolio of partnerships with various financial institutions to help citizens find their forever home and fulfil the diverse housing requirements of the Kingdom.”
Commenting on the milestone, Subah Abdullatif Al Zayani, Chief Executive Retail Banking in NBB said; “We are delighted to be the first to complete the financing and processing of villas in Suhail, which demonstrates our commitment to providing speedy and efficient financial services that drive the success of this project. Our longstanding partnership with the Ministry of Housing & Urban Planning, as well as Eskan Bank, has ensured future homeowners benefit from easy processing of their Mazaya, Tas’heel, or Joint Housing finances.” New homeowners expressed their gratitude and appreciation to the Ministry of Housing & Urban Planning, Eskan Bank and NBB who together contributed to supporting them in purchasing their desired home by providing them with appropriate housing financing.
The National Bank of Bahrain endeavors to provide housing solutions for all of its customers and ensures flexible and diverse financing options to suit all needs. The bank’s attractive interest rates and fast approval processes make it the bank of choice for Bahrainis looking to purchase their next property.