National Bank of Bahrain finances first plot in Al Msayyan Project under ‘Mazaya 2.0’

TDT | Manama                      

The Daily Tribune – www.newsofbahrain.com   

The National Bank of Bahrain (NBB) has announced financing the first plot in Al Msayyan Project, under the social housing financing product, Mazaya 2.0 Finance, in collaboration with the Ministry of Housing & Urban Planning and Eskan Bank.

Dr Khalid Abdulla, General Manager of Eskan Bank, said: “Our continued partnership with banks has enabled us to fulfil the diverse housing requirements of our citizens through the variety of social housing products offered.”

He added: “The “AlMsayyan” project is located in the heart of Diyar Al Muharraq and it considered as one of the distinguished projects that were launched in the real estate exhibition that took place in Bahrain City Centre, the project was offered exclusively to the new social housing products, Tas’heel and Mazaya 2.0 Finance.

Beneficiaries can opt for the new social housing products either from Eskan Bank or from one of the participating banks.”

Subah Abdullatif AlZayani, Chief Executive Retail Banking on NBB, said: “Our longstanding partnership with the Ministry of Housing & Urban Planning, as well as Eskan Bank, has ensured future homeowners benefit from easy processing and facilitated access to affordable housing projects in modern cities.”

Customers wishing to benefit from the Mazaya 2.0 Finance product, NBB said will benefit from attractive interest rates, smooth approval process with flexible finance repayment terms for up to 300 months.

Future beneficiaries will enjoy free fire insurance as well as borrowing 100% of the total property value.