BBK Al-Yal ink mortgage deal

Manama : Bank of Bahrain and Kuwait (BBK) yesterday entered into a deal with Al-Yal Real Estate to provide mortgage financing in the Catamaran project. Under the terms of the deal, customers of the Al-Yal Real Estate company’s Catamaran project who require funding in the form of mortgage loans will be advised to consider BBK being the end user funding partner.

Al-Yal Real Estate, a residential and commercial developer in Bahrain since 2008, said it aims to generate innovative residential and investment opportunities within the local real estate market. Announcing the strategic partnership, Dr Adel Salem, Head of the Retail Banking Division said: “This collaboration will allow customers from all nationalities residing in the GCC who wish to own a property in the Catamaran project to enjoy excellent interest rates and loan terms from BBK.”

Hamad Al-Sadoun, Al Yal Real Estate’s Assistant General Manager said: “This partnership is a positive step towards upholding real estate projects in Bahrain.”