MANAMA: Diyar Al Muharraq has announced the signing of a financing agreement with Kuwait Finance House-Bahrain (KFH-Bahrain), that will facilitate the purchase of freehold residential units in Al Bareh.

Al Bareh is a residential community located on the west side of the master-planned development offering homes with views of the seafront and the main canal.

Both plots and villas in the project are still available for sale and the bank will offer financing to prospective customers for properties that have not yet been sold.

The signing of the memorandum of association took place between Diyar Al Muharraq chief executive Dr Maher Al Shaer and KFH-Bahrain executive manager and head of retail banking group Khalid Rafea.

Dr Al Shaer said the signing of the agreement reiterates the high priority given to one of the developer’s most prominent residential projects and to catering to the financial requisites of prospective homeowners within the development.

“Upon completion, Al Bareh is poised to make a substantial impact on Diyar Al Muharraq by augmenting its range of residential offerings and to have an institution such as KFH-Bahrain, which is at the forefront of the banking and finance industry in Bahrain, finance the sale of its properties, guarantees delivery on the promise of success that it holds,” he added.