MANAMA: BBK, Bahrain’s pioneer in retail and commercial banking, yesterday announced the establishment of a strategic partnership agreement with Al Yal Real Estate through which BBK will provide mortgage financing to the purchasers of apartments in the Catamaran project.
Al Yal has established its place as a residential and commercial developer in Bahrain since 2008 which aims to generate innovative residential and investment opportunities within the local real estate market. Under the terms of the agreement, customers of the Catamaran project who require funding in the form of mortgage loans will be advised to consider BBK being the end user funding partner.
“In our continuous efforts to provide our customers with the best services and value offerings, we are pleased to enter into a strategic partnership with Al Yal, a reputable real estate company that has been offering innovative residential solutions which our customers can benefit from. This collaboration will allow customers from all nationalities residing in the GCC who wish to own a property in the Catamaran project to enjoy excellent interest rates and loan terms from BBK,” head of the retail banking division Dr Adel Salem said.
Al Yal Real Estate’s assistant general manager Hamad Al Sadoun said: “This partnership is a positive step towards upholding real estate projects in Bahrain. This collaboration will create a convenient funding process for our customers to obtain the financing for their property. We look forward to further collaborations with BBK in the future.”