MANAMA: Bahrain Islamic Bank (BisB) has signed a joint venture agreement with Royal Ambassador Property Management to provide financing for potential residents of the Fontana Project; enabling both nationals and expatriates working in Bahrain, or the GCC to buy residential units in the real estate development.
“We are pleased to sign this agreement with Royal Ambassador Property Management, which comes in line with our aim to continue to offer a flexible range of financing solutions to suit our clients’ needs and help them invest in their future,” said BisB general manager of retail banking Dalal Al Qais.
“Both Bahraini nationals and residents in the kingdom will have the advantage of paying only five per cent for their residential unit of choice.”
Royal Ambassador Property Management general manager of sales and business development Eman Al Mannai said the agreement will open doors for Bahrainis, GCC nationals and foreigners who wanted to buy into the company’s projects, but could not do so due to liquidity issues in the past.
“We are confident that this co-operation will receive a positive response and a large number of applicants due to the reduced rates and flexible mortgage years,” she added.