The National Bank of Bahrain (NBB) has signed a partnership agreement with Eskan Bank to provide NBB customers with tailored mortgage financing solutions to Eskan Bank’s latest project, ‘Danaat Al Lawzi’, located in Hamad Town.
NBB offers a special mortgage solutions to its customers and candidates eligible for the Mazaya Scheme, as well as a number of exclusive deals with no valuation or processing fees required, in addition to a BHD 500 voucher for the first 10 customers. With interest rates starting from 4% for the top up amount with a total coverage of up to BHD 120,000 and up to 25 years, faster approval processes, and competitive rates on primary and secondary mortgage loans, the Bank will facilitate financing on Danaat Al Lawzi project as part of its commitment to the Kingdom’s vision of providing housing solutions to its citizens.
Minister of Housing and Chairman of Eskan Bank, His Excellency Eng. Basem Bin Yaqoub Al-Hamar, commented: “It gives us great pleasure to extend our appreciation to the National Bank of Bahrain along with our partners in the banking sector for supporting our initiatives, which contribute towards enabling Bahraini beneficiaries of the Mazaya scheme to obtain easy financing and improve housing opportunities. We are very pleased with our fruitful cooperation with the Bank, which is entirely focused on serving citizens and ensuring that they acquire the housing units that fit their needs and requirements within the Danaat Al Lawzi.”
Commenting on the partnership, NBB Chief Executive Officer, Jean-Christophe Durand, said: “NBB has always been at the forefront of supporting the Kingdom’s social and economic initiatives, and as such, and through this partnership with Eskan Bank, we look forward to taking an active role in meeting the growing demand for affordable housing in line with the Kingdom’s 2030 Vision to provide facilitated housing solutions to the citizen of Bahrain.”
Dr. Khalid Abdullah, General Manager of Eskan Bank, commended the collaboration with NBB stating that “over the past years, Mazaya scheme has been able to provide affordable financing solutions to many citizens, and the National Bank of Bahrain has been a consistent supporter of this scheme all along. We hereby express our sincere gratitude to NBB along with all other partners in the banking field for their ongoing commitment towards supporting the housing sector and the local economy as a whole.”
Also commenting on this initiative, Chief Executive of Retail Banking at NBB, Subah Abdullatif Al-Zayani, stated: “As the National Bank of choice, we continue to align our customer-centric approach to support the Kingdom’s initiatives and ensure that we are closer to our customers, who always remain our topmost priority. We are committed to catering to them by offering the best products and services that suit their needs and allow them to fulfill their dreams.”
As part of its continuous dedication and the role it plays in driving positive initiatives within the Kingdom of Bahrain, NBB remains committed to providing facilitated solutions geared towards Bahraini homeowners in line with the Kingdom’s broader vision of generating accessible homeownership funding initiatives.
Danaat Al Lawzi, the latest project in the Eskan Bank portfolio, is a 106,713sq/m development located on the shores of Al Lawzi lake, comprising of 303 four-bedroom villas specifically designed to cater to the needs of young Bahraini families looking to own their first residence. The project, located ideally close to the new Hamad Town highway, is home to a community centre, an 800m promenade, landscaped gardens, and a large Lulu Hypermarket branch to cater to the community’s needs.