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For the first time in Bahrain's real estate market, property owners can follow the real time progress of their investment simply by dialling up a designated number using a video call from a 3G mobile phone.
The recently launched broadcast facility is the brainchild of property developer RMK Projects and will allow customers to monitor live each stage of the highly popular Nasmah development, an affordable apartment tower in the Juffair area which was sold out by Sakana Holistic Housing Solutions within just a few weeks.
Ishaq Al Kooheji, president and CEO of RMK Projects, said: "As a commitment to our property investors, we have installed the remote video camera to reassure customers that their investment is on target. Wherever they are and whenever they wish to, they can dial up and even zoom in to check out their investment as it grows."
The project is well underway with all piling and foundation work completed in May and the first floor slab due to be laid in June, with a view to building the floors by summer next year with handover to owners by the end of 2009.
Mr R Lakshmanan, CEO of Sakana, an Islamic mortgage provider, said: "As Sakana's first foray into property consultancy, we want to make the Nasmah experience as rewarding as possible for our customers.
"The innovate nature of the 3G broadcasts reflect the way that Sakana likes to operate, having been first to market with many other products and services."
Buoyed by the success of this initial joint venture, RMK Projects and Sakana are in the advanced stage of discussion to launch a similar project shortly.
Sakana has also recently signed a memorandum of understanding with Porta Reef - a development by Abu Dhabi Investment House - to become a preferred Islamic mortgage provider for the luxury development of three 10-storey residential towers located on Reef Island.
As a preferred mortgage provider, Sakana will offer its range of Sharia-compliant products and services in order to facilitate the purchase of apartments in the Porta Reef development to buyers of all nationalities from Bahrain, the GCC and the wider international community.
Fawaz Ali Al Jowder, chairman of Porta Reef, said that Sakana and Porta Reef will be working closely to make the dream of living in Porta Reef, an idyllic location on the southern part of Reef Island with sea views over the Gulf, a reality.
