Bin Faqeeh Real Estate Investment Company S.P.C. announced the signing of a Memorandum of Understanding agreement with Al Baraka Islamic Bank to provide financing to potential customers wishing to purchase a villa in Alsidra residential project.

The signing ceremony was held at Al Baraka Islamic Bank headquarters in Bahrain Bay in the presence of Mr. Faisal Faqeeh, Chairman of Bin Faqeeh Real Estate Investment Company S.P.C., and Mr. Tariq Kazim, the General Manager – Business Group of Al Baraka Islamic Bank -Bahrain.

Speaking on the occasion, Mr. Faisal Faqeeh said: “We are very pleased towards the partnership with Al Baraka Islamic Bank, one of the distinguished banks. This agreement comes in line with Bin Faqeeh’s continual efforts to further strengthen ties with leading Banking institutions, to contribute to the growth of the real estate sector in the Kingdom of Bahrain. Under this agreement, our customers will receive various services provided by the bank, in addition to receiving special financing at competitive rates suitable for different categories."

Additionally, Mr. Tariq Kazim, General Manager - Business Group of Al Baraka Islamic Bank said: "It gives us great pleasure to be collaborating with Bin Faqeeh Real Estate Investment Company S.P.C., one of the most prestigious institutions in the real estate sector. This partnership reflects our efforts Al Baraka Islamic Bank to provide the best financing solutions to customers from different sectors. Through this initiative, we also aim to provide Alsidra customers with the opportunity to benefit from the bank's real estate solutions by providing services tailored to their needs. We look forward to reaping the benefits of this partnership and continuing to spread our banking and finance services to a wider customer base”.

With its establishment in 1984 in the Kingdom of Bahrain, Al Baraka Islamic Bank B.S.C. – Bahrain has a track record of delivering excellence, innovation and superior results. The Bank ranks among the leading providers of Islamic banking products and services to its international clientele and focuses primarily on developing innovative and distinguished Investment solutions in compliance with Islamic Sharia principles, supported by its a sound financial position.

Alsidra is the first gated residential complex located at Diyar Al Muharraq, comprising 452 luxury villas of varying designs and capacities. The project offers an attractive environment for families by offering different types of villas, ranging from two-bedroom villas to five- bedrooms, each villa is designed either by modern or a modern version of traditional designs between Bahraini architecture and modern Moroccan.

This agreement represents an important step towards giving more confidence to the real estate sector in the Kingdom of Bahrain, where Bin Faqeeh has established a prominent position and has become one of the most prominent real estate developers in the region, and today this initiative will contribute to enhancing the investor’s confidence in the real estate market.