NBB and GFH Properties sign key financing accord

MANAMA: National Bank of Bahrain (NBB) has signed a memorandum of understanding with GFH Properties, the real estate arm of GFH Financial Group, to offer special rates on the developer’s residential properties across the kingdom.

Under the agreement NBB will offer up to 90 per cent mortgage financing on selected GFH Properties apartments, as well as competitive interest rates starting from 4.75pc, for up to 25 years.

Commenting on the agreement, NBB chief executive retail banking Subah Al Zayani said: “The agreement between GFH Properties and NBB falls under our ongoing efforts to support the kingdom’s vision by providing Bahrainis with facilitated housing solutions, allowing them to own their dream homes.”

GFH Properties vice-chairman Salah Sharif said: “The mortgage scheme for new investors will make their financing requirements effortless. The programme is available for new homes at one of the most desirable destinations in the city including the Harbour Row and Harbour Heights, which are conveniently located in Bahrain Financial Harbour and have world-class amenities that add to the quality of life of the residents.”

Through this initiative, NBB aims to diversify its portfolio of services and offerings by implementing a socially responsible business model that aligns with the kingdom’s 2030 vision and broader economic goals.

GFH Properties currently manages up to $1 billion worth of end project value.

 

Source: http://www.gdnonline.com/Details/924271/NBB-and-GFH-Properties-sign-key-financing-accord

 

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