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Investors who are seeking up-market residential units can now access competitive financing options through a new partnership between Porta Reef and Bahrain Islamic Bank (BisB).
The exclusive Porta Reef, a $90 million project being undertaken by Abu Dhabi Investment House (ADIH), has partnered with BisB, the flagship of Islamic banking in Bahrain. Under the agreement, BisB will offer attractive financing packages to buyers who wish to purchase one of the 150 residential units on sale at the Porta Reef development.
The financing terms on offer start with an affordable level of down-payment, providing flexible Sharia'a-compliant arrangements for clients.
The partnership is the first such agreement between Porta Reef and a financial provider, and is intended to increase accessibility for Porta Reef's niche target market.
At a signing ceremony held at the BisB headquarters, Porta Reef chairman Fawaz Ali Al Jowder said, "Our partnership with BisB stems from our strategy to provide a holistic one-stop solution to clients who prefer to adopt Islamic financing methods. With Porta Reef witnessing the level of success that it has, we strive to provide our clients with the tools they need to ensure a hassle-free purchasing experience."
BisB general manager retails A Rahman Turki said, "BisB has developed a long-standing tradition in the Kingdom of crafting innovative solutions for a variety of products. We are highly selective in our partnering strategies, and the quality offering that Porta Reef represents makes the project a compelling partner for us."
Porta Reef includes a trio of luxurious residential towers with 2 and 3 bedroom apartments, as well as six premium penthouse units.
