Kuwait Finance House–Bahrain announced that it has successfully completed the first financing requests for one of the residential villas listed under the Mazaya Social Housing program, as part of the third and fourth phase of the Deerat Al Oyoun residential project located in Diyar Al Muharraq, which was recently launched in cooperation with the Ministry of Housing.

The first villa was handed over to Mr. Jamal Al Khalaqi, in the presence of Dr. Khalid Abdulla, General Manager of Eskan Bank, Mr. Abdulhakeem AlKhayyat the Managing Director and CEO at KFH – Bahrain, and a number of officials from both entities.

Commenting on the handover of the first villa within the last phase of Deerat Al Oyoun, Dr. Khalid Abdulla, General Manager of Eskan Bank said: “It gives us great pleasure to provide multiple solutions for social housing units ready to be purchased in the Deerat Al Oyoun project, which are available exclusively to citizens who qualify for the Mazaya program and the financing services from the Ministry of Housing. We would like to commend KFH-Bahrain’s role in providing financing offers that allow Bahraini citizens to reserve and purchase homes within the project that acquire to their family’s needs with seamless procedures and a swift process to obtain financing. We are pleased to witness the delivery of the first villas within this phase, and we would like to congratulate the applicant for completing all procedures and receiving the keys to his house in Deerat Al Oyoun. We look forward to continuing this fruitful cooperation with our partners in the private sector to continue meeting the demand for social housing solutions in the Kingdom.”

Commenting on this occasion, Mr. Abdulhakeem AlKhayyat, the Managing Director and CEO at KFH–Bahrain said: “We at KFH-Bahrain place the needs of our valued customers at the forefront of our priorities, and we aim to facilitate their housing needs by providing them with affordable housing finance solutions. We believe that our strategic partnership with the Ministry of Housing is pivotal, as it reflects our commitment which is aimed at contributing to our role in developing the housing affairs in the Kingdom. We are always looking forward to providing financing services and exclusive offers for housing applicants, especially those who qualify for the Mazaya social housing program.”

“It gives us great pleasure to announce the handover of the first villa of the final phase of the Deerat al Oyoun project to Mr. Jamal Khalaqi. We would also like to extend our best wishes to him and the owners of the other villas and ask Allah almighty to bless them. We are also proud to be one of the financiers of this project.” he added.

Mr. Jamal Al Khalaqi expressed his excitement in receiving the keys to his new home in the Deerat al Oyoun project, and applauded the Bank’s efforts for facilitating the rapid procedures when applying for Mazaya financing and said: “I am very pleased to be one of the first recipients of the last phase villas of Deerat Al Oyoun, and I would like to extend my gratitude and appreciation to KFH-Bahrain for providing a seamless experience and special financing offers that bring customers closer to owning their own home within the social housing solutions.”

“Kuwait Finance House-Bahrain provides its valued customers with the opportunity to obtain Shari’a compliant real estate financing at competitive profit rates, as part of the innovative financing solutions for customers listed under the Mazaya program, which is offered by the Ministry of Housing. Customers will also have a flexible repayment period of up to 30 years, as well as additional financing of up to BD12, 000 to furnish the villa. In addition, customers will also receive a golden package for the maintenance of all villas for a full year from a reputable maintenance company. The exclusive offer also exempts customers from paying administrative fees or real estate appraisal fees, without requiring an advance payment for additional financing outside the scope of the Mazaya program which covers the value of the property,” commented Mr. Hamed Mashal, Head of Retail Banking at KFH-Bahrain.

The villas of the last phases in the Deerat Al Oyoun project were specifically designed to meet the needs of the modern-day Bahraini family. The villas are available in four designs including Bahraini, modern, Spanish and Mediterranean architectural styles, which all consist of four bedrooms, including two master bedrooms, two halls, a kitchen, a living area, four toilets, indoor parking that accommodates two cars, a spacious back garden and a balcony.

It is worth noting that all KFH-Bahrain customers who apply for benefits in November this year and until the end of March 2022, will be automatically entered into the draw for the ‘your installments on us’ promotional campaign, which includes the first two years’ installments from the bank for one winner, or the first year’s installments from the bank for three winners. In addition to instant prizes worth up to BD1,000.

The bank’s team members alongside the Deerat Al Oyoun sales team are present to receive visitors throughout the week, with working hours starting from 8:00 am to 6:00 pm, to attend to those wishing to reserve villas and answer all inquiries, in line with the official directions to ensure the safety of everyone.