Al Salam Bank Teams Up with Bareeq Al Retaj to Offer Comprehensive Home Financing

Al Salam Bank has entered into an agreement to offer real estate financing for the purchase of homes in Bareeq Al Retaj’s Ras Hayan Village and Wahati projects.

This collaboration allows prospective homebuyers to access real estate financing at competitive profit rates, including a six-month grace period and swift approval process. Additionally, customers will benefit from waived administration and valuation fees and can earn loyalty rewards points. They will also receive complimentary consultations from We Invision Design & Execution, as well as exclusive discounts on home and electronic appliances from AlSalam Gas, Bin Hindi, and YK Almoayyed.

Eligible beneficiaries of the Tas’heel scheme will enjoy waived registration fees and free life and fire insurance. Bareeq Al Retaj will also offer furnishing for apartments in phase 1 of Wahati and plots in Ras Hayan Village.

Dr. Maher Al Shaer, vice-chairman and managing director of Bareeq Al Retaj, expressed excitement about the partnership, stating: "Through our partnership with Al Salam Bank, we are excited to offer innovative and accessible financing solutions for buyers in the Ras Hayan Village and Wahati projects. This step aligns with our strategy to provide a unique and modern residential experience in Bahrain."

Anwar Murad, deputy chief executive of banking at Al Salam Bank, highlighted the bank’s commitment to enriching customers' banking experience and supporting their financial goals: "We are pleased to partner with Bareeq Al Retaj to deliver flexible and competitive financing solutions that support our clients in purchasing units available in both Ras Hayan Village and Wahati. This strategic step underscores our ongoing efforts to support national aspirations by providing suitable housing units for citizens while contributing to the kingdom's housing file."

Source: Zawya