Al Baraka Islamic Bank (AIB – Bahrain), a leader in the Islamic banking sector, has signed a property financing agreement with the Kadi Group, a top real estate development and services company based in Bahrain.
The agreement aims to provide property finance solutions for potential and existing buyers of units in Kadi’s latest residential project, the Burj Kadi.
The signing ceremony was held at the Al Baraka Islamic Bank headquarters in Bahrain Bay in the presence of Tariq Kazim, general manager – Business Group of AIB-Bahrain, and Saleh AlFadhala, the Chairman of Kadi Group, along with other prominent officials from both sides.
Burj Kadi is a luxury high-rise, freehold development project worth BD22 million ($58 million) presently been constructed in Juffair, Bahrain on the Shaikh Khalifa Highway. Upon completion, the building will be 40 storeys tall, with six floors dedicated to a parking lot, and will comprise of a total of 359 residential apartments ranging from Studio apartments to one, two and three Bedroom Apartments, with 4 Sky Villas at the top.
As per the agreement, Al Baraka Islamic Bank will provide financing facilities to prospective customers, both Bahraini and expatriates, who wish to purchase properties in the Burj Kadi development, by providing them with property financing at competitive rates.
Tariq Kazim said: “It gives us great pleasure to be collaborating with the Kadi Group for providing property finance solutions to potential unit buyers in Burj Kadi. Interested investors can apply for property finance at any AIB-Bahrain branch in the Kingdom.
“The Kadi Group is a well reputed property development company in Bahrain and we are very pleased with the quality of work currently in progress on the project. We are thereby excited for what the future holds for the potential residents of Burj Kadi and are glad to be a part of this substantially beneficial alliance.”
Saleh AlFadhala said: “We are highly delighted and proud to start a new venture with Al Baraka Islamic Bank and we appreciate the bank for approving the property financing for Burj Kadi to its prospective and existing buyers.” – TradeArabia News Service
Send us your company’s news today and they could be featured on ABC’s Community News tommorow.
