Diyar Al Muharraq secures financing agreement with KFH Bahrain
Agreement will help prospective owners to purchase residential units in Al Bareh project
Diyar Al Muharraq, a leading Bahraini urban developer, has signed a financing agreement with Kuwait Finance House – Bahrain (KFH Bahrain), which will help prospective owners to facilitate the purchase of residential units in its Al Bareh project.
In a statement, the company said that the agreement covers both plots and villas that are still available for sale. Under the terms of the agreement, KFH Bahrain will provide financing facilities to prospective customers who wish to purchase properties in the Al Bareh project.
The development is considered to be one of the key projects in Diyar Al Muharraq, a master-planned city located in Muharraq, the former historic capital of Bahrain, in the north-eastern tip of the Kingdom.
Al Bareh is planned as a residential community that is situated in a prime location in the west of the master-planned city. Residents will have seafront views and a view of the main canal. The project offers both plots of different sizes, as well as luxury villas that come in a variety of designs. This offers a wide range of choice to clients, the developer said.
“It is indeed a pleasure to witness the signing of this agreement today which reiterates the high priority that we have given to both one of our most prominent residential projects and to catering to the financial requisites of prospective homeowners within the development,” said Dr Maher Al Shaer, chief executive officer of Diyar Al Muharraq.
“To be able to partner with a financial institution that is as distinguished as KFH-Bahrain is an immense benefit to both us as a company and to those who wish their properties to be financed.”
The signing of the memorandum of association took place between Al Shaer and the managing director and chief executive officer of Kuwait Finance House-Bahrain, Abdulhakeem Y Al-Khayyat, in the presence of high-level officials from both sides.
