Saar Central offer competitive financing scheme in partnership with AlBaraka

Press release

Published May 24th, 2011 - 06:38 GMT

One of Saar Central Project villas

Saar Central, CAPIVEST’s premier real estate project, has today announced it has signed an agreement with AlBaraka Islamic Bank offering a home financing scheme to all purchasers and potential purchasers. The scheme provides competitive rates for financing Saar Central homes whilst adhering to Islamic Sharia regulations at the same time.

Commenting on the agreement, Nader Al Qassab, Board Member of Sakan Development Company – owner of Saar Central – said: ‘We are excited to be able to offer such great rates to our purchasers in partnership with one of Bahrain’s most reputable Islamic banks. The financing scheme will allow our customers to acquire their dream homes without putting too much strain on their finances. We value our customers and this is a step towards making our homes available to all members of the public who wish to own and move into a home in Saar Central.”

Mohammed Isa Al Mutaweh, CEO & Board Member of AlBaraka Islamic Bank – Bahrain added: “This partnership with Saar Central allows us to offer competitive Islamic financing rates to anyone who is looking to purchase a home in Saar Central, making owning your dream home a simple, affordable and straight-forward process. With more and more families looking to own a home that meets their standards of comfort and quality, it gives us great pleasure to be able to offer potential homeowners a financing scheme such as this with one of the premier housing developments in Bahrain today.”

Saar Central, which is managed by CAPIVEST, is located on a sprawling 65,000 sq m area and offers a mix of 82 villas of varied size and appointment, ranging from simply elegant to modern to luxurious. Located in the popular Saar area of Bahrain, the villas adhere to the highest international quality standards and specifications, with a wide range of options available to satisfy all the needs and wants of potential homeowners.

For more information on the scheme, please contact AlBaraka on 13 300400.

Background Information

AlBaraka Islamic Bank

Al Baraka Islamic Bank (“AIB” or “the Bank”) is one of leading financial institutions in the Islamic banking sector. Throughout its history of more than three decades (since its establishment in 1984), the Bank has played a prominent role in building the infrastructure of the Islamic finance industry. The Bank also played a significant role in promoting the Islamic finance industry and publicizing its merits. The Bank enjoys a good reputation and high standing with the community in the Kingdom of Bahrain in particular, and in the GCC, Arab and Islamic worlds in general.