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Marina West and Ahli United Bank (AUB) have signed a memorandum of understanding, which will allow Bahraini’s and expatriates to purchase homes at the kingdom’s beachfront development.
The deal comes as part of Marina West’s initiative to offer varied finance options to the public, making a marina lifestyle accessible to everyone.
The signing ceremony, held at Marina West’s headquarters in NBB Tower, was attended by Abdulla Al Raeesi, deputy group CEO of Ahli United Bank and Mahmood Janahi, managing director of Marina West Real Estate Company.
As part of the deal, AUB is offering long-term mortgage facilities for Bahraini’s, expatriates and GCC nationals. Marina West buyers choosing AUB mortgage loans will benefit from affordable instalments, as well as some of the lowest arrangement fees available in the market and attractive interest rates.
Mr Janahi said: “Ahli United Bank has a strong history in the kingdom, and an excellent reputation in the wider Middle East, which is why Marina West are pleased to be able to offer our buyers finance options from AUB.
“With the introduction of these mortgages, customers of any nationality can purchase a home in Bahrain and benefit from the tranquil beachfront lifestyle that Marina West offers.
“The real estate market in Bahrain is booming, and our reputation as a tourism hub is following suit – Marina West aims to contribute to this reputation by creating a beachfront community that is truly unique in the kingdom.
“This latest financing move further demonstrates our vision to have no limits on who can buy a property in Marina West, with AUB’s mortgages allowing interested buyers the opportunity to own a luxurious piece of property at a reasonable price.”
Mr Al Raeesi said: “We are pleased to be associated with a pioneering and unique project like Marina West. We have tailored our mortgage options to make them as accessible and affordable as possible in keeping with AUB’s philosophy of providing banking products and services to a wide section of society.
“We currently have a strong regional economy which is experiencing rapid growth in the real estate sector; therefore we recognise the need for our finance options to be extremely competitive - with a choice of tenure durations, flexible interest rates and low down payments.”
Marina West’s 1, 2, 3 and 4 bedroom freehold apartments, duplexes, simplexes and penthouse suites begin at a price of BD47,000 with floor space ranging in size from 92 to 447 square metres.
More information on Marina West is available by contacting the sole agent for the development, Asteco Property Management on telephone number +973 17 690808 or by visiting www.marina-west.com.
