Eskan, KFH in pact to build apartments

Manama : Eskan Properties Company signed an agreement with Kuwait Finance House (KFH-Bahrain) for the development management of Danaat Baytik apartment at Ishbiliya Village. 

Eskan Properties Company will be the development manager of the project. These apartment units will be marketed and sold to beneficiaries of government housing services and specifically those who qualify for the Ministry of Housing’s social housing financing service “Mazaya”. 

The agreement was signed by Eskan Properties Company Chairman and Eskan Bank General Manager, Dr. Khalid Abdulla and KFH-Bahrain Managing Director and CEO, Abdulhakeem Al-Khayyat in the presence of Ishbiliya Company Board Members, Khalid Al Maarafi, Rashid AlKhan and Sarah Al Abbasi, and the executive management team of Eskan Properties Company, Eyad Obaid, Eskan Properties General Manager and S. Ahmed Al Sharaf.

KFH-Bahrain will be the primary developer for the project, which will be occupying 27,142 sqm. Eskan Properties Company have been assigned to manage the development of the project. Dr. Abdulla said, “This project comes as part of efforts by Eskan Bank and its subsidiaries, with the firm support of the Ministry of Housing, to provide efficient and suitable housing solutions for Bahraini families by utilising the expertise and capabilities of the private sector and making them key partners.”

The Ishbiliya apartment project consists of 18 five-story buildings with a total of 460 apartments and an area of 160sqm per apartment. 

Each apartment consists of three bedrooms of various designs, a maid’s quarter, and two parking lots. Free supervisory and maintenance services will be available for two years for all the apartments.