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Sakana Holistic Housing Solutions is offering Bahrain’s highest ever mortgage credit of BD1.25 million breaking all existing mortgage barriers.
As the first mortgage finance of over a million Bahraini dinars offered to the public, it will have a significant impact on the kingdom’s burgeoning property market by providing finance to a wider range of investors.
The new Sakana product results in an additional injection of funds, fuelling further growth of the property market and the resulting investment promises to impact positively on Bahrain’s economic outlook.
Sakana’s innovative product allows customers to secure a substantial line of credit to finance larger property deals.
In the past, only commercial loans were available on this scale, which limited the uptake to those investors with established and significant business assets.
Now, more people than ever before will benefit from the investment potential that real estate ownership offers. Sakana CEO R Lakshmanan said: “Sakana is redefining the mortgage finance market in Bahrain through delivering on our remit to widen access to property ownership through the innovative development of investment finance.
“We are introducing this new mortgage facility in response to the increasing demand for finance being generated by the investment opportunities presented by Bahrain’s existing and upcoming property developments – particularly high end developments.
“Our new line of credit allows high net worth investors to fully capitalise on existing assets as well as grow a substantial property portfolio,” he said.
“Sakana is aiming to open up the mortgage market by introducing products hitherto unavailable in Bahrain. We are offering real flexibility for investors who wish to structure their property portfolio to provide maximum returns by spreading investment over several properties or by the purchase of one large property.”
The line of credit is available to use across as many mortgages desired. Investors are not obliged to use the complete amount offered by line of credit immediately, and will have a grace period of three months during which to allocate the funds.
Sakana is in the business of simplifying and extending the possibility of widespread home ownership with a variety of mortgage-related products.
Facilities such as reduced down payments, long repayment terms and joint mortgage applications, are helping many more people to gain a foothold on the property ladder. Sakana mortgages are available to qualifying Bahrainis, expatriates and non-residents.
