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Bahrain's Pegasus Realty and Standard Chartered Bank have entered into a strategic alliance to offer tailor-made mortgage finance solutions to buyers looking to invest within the property market in Bahrain.
The agreement, as part of which Standard Chartered Bank will offer up to 80 per cent finance to both Bahrainis and expatriates, has further cemented the company's relationship with the bank, Pegasus Realty managing director Aziz Mithaiwala said.
"The significant thing is that the finance will be offered for a range of properties being marketed by Pegasus," he said. "This will give even more flexibility to buyers."
Pegasus has been the exclusive marketing agency for some of the most prestigious projects in Bahrain, many of which have now been completed. Among them are Abraj Al Lulu, Juffair Skyview and the soon-to-be complete Platinum Tower in Seef.
He said since many of their clients are now mainly looking to invest in ready and immediately available properties, the Standard Chartered Bank offer is ideal because it offers the market's lowest interest rates.
B Chandrasekhar, regional head of consumer banking, Northern Gulf, Levant and Oman, said: "We are very pleased with this tie-up and are proud to be associated with Pegasus Realty who has been at the forefront of promotion of some of the most prestigious projects in the kingdom. Our current mortgage finance product allows potential buyers to take advantage of the low interest rate on offer along with a minimum approval time frame".
