Khaleeji Commercial Bank signs a MOU with Dilmunia at Bahrain to provide Home Financing

Khaleeji Commercial Bank, one of the leading Islamic banks in the kingdom of Bahrain, signed a Memorandum of Understanding with Ithmaar Development Company, Development Manager of Dilmunia at Bahrain Island on Tuesday, 1st April, for the purpose of providing Property Finance Solutions for potential buyers of units in Dilmunia including Seavilla, the first Dilmunia project.

The MOU was signed by Mr. Khalil Al Meer, CEO of KHCB and Mr. Mohammed Khalil Al Sayed, CEO of Ithmaar Development Company and Chairman of Health Island Company at KHCB’s main office in the Financial Harbour. The signing of the MOU was also attended by Mr. Fuad Taqi, DGM of Commercial Banking, Mr. Abdulrahman Al Suwaidi, Head of Consumer Finance, and Mr. Hamad Al Murbati from KHCB in addition to Mr. Waleed Adel Ali, Manager Investments From Ithmaar Development company.

On this occasion Mr. Khalil Al Meer, CEO of KHCB said:” It gives us great pleasure to be collaborating with Ithmaar Development Company for providing property finance solutions to potential unit buyers in Dilmunia Island. The project itself is amazing and investing in Dilmunia, is open to both Bahraini and expatriate investors. Potential buyers can apply for property finance at any KHCB branch in the kingdom”.

From his side Mr. Mohammed Khalil Al Sayed, CEO of Ithmaar Development Company and Chairman of Health Island Company said: ”We are happy to partner with Khaleeji Commercial Bank to offer distinctive home financing solution for Dilmunia clients. With KHCB’s competitive finance facilities that offer easy options for investing in Dilmunia, we are certain that our clients will find the process of availing property finance is a very smooth and uncomplicated procedure”.

Situated in the heart of the Arabian Gulf, Dilmunia lies off the north-eastern coast of the island of Muharraq. Spread over a land size of 125 Hectares, Dilmunia seeks to create a balanced, healthy and sustainable ecology. Business locations are balanced with residential and leisure spaces to create a comprehensive and comfortable residential project. Khaleeji Commercial Bank will be providing property finance facilities for clients who purchased units in Seavilla project, the first residential offering at Dilmunia Island. This project consists of 32 beach front villas occupying a total land area of 20,000 square meters with 500 meters of shoreline.

Headquartered in the kingdom of Bahrain, Khaleeji Commercial Bank BSC is a fast growing Islamic retail bank that endeavors to achieve its vision to be a leading domestic and regional Islamic Bank, providing a comprehensive range of high quality Shari’a compliant banking and Investment products, services and investment opportunities to their customers and corporate clients.

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Key Facts

Total Reclaimed Area: 125 hectares
Total Gross Floor Area: approximately 1,800,000 square metres

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  • Residential & Mixed 60%
  • Office 4%
  • Retail 10%
  • Hotel 9%
  • Wellness 17%