NBB offers loan to buy land and build homes

MANAMA: National Bank of Bahrain (NBB) is introducing a new housing finance construction scheme in collaboration with Eskan Bank to facilitate the purchase of land and the subsequent construction of homes anywhere in the country.

The new scheme comes months after the launch of the joint housing purchase scheme which solidifies NBB’s growing partnership with the Housing Ministry and Eskan Bank.

The bank’s customers will be offered mortgage finance to purchase land and subsequently build a house on it through a social housing financing plan provided by Eskan Bank.

The new housing solution provided by both banks is an added feature to the existing joint housing programme designed to provide facilitated housing solutions to Bahraini customers looking to build homes.

Commenting on the new scheme, chief executive of retail banking at NBB, Subah Al Zayani, said: “Through this partnership, we aim to provide a wider range of opportunities to Bahraini beneficiaries looking for complementing housing financing solutions at NBB. This is also part of our initiative to provide the citizens of Bahrain with flexible housing solutions, allowing them to begin construction on their dream homes anywhere across the kingdom.

He added: “We hope to release a number of similar initiatives and solutions in the future, to provide all our customers with a diverse range of services to build a brighter future for them as new homeowners.”

Ahmed Tayara, executive director of banking and deputy general manager at Eskan Bank, said: “This step reflects the scale of co-operation between Eskan Bank and NBB, and the importance of continuing our extended co-operation with private banks to provide all possible requirements and achieve more successes in serving the Bahraini citizen.”

Source: https://www.gdnonline.com/Details/941877