The following are the procedures that may be needed for financing an apartment within the Abraj Al Lulu Development through BBK (Bank of Bahrain & Kuwait).

Introducing an Identity

Amongst most financial institutions today, it is very rare to see a true display or expression of character. At BBK, the developments at hand are very much about introducing the bank's true identity and persona to the public.

With the introduction of the BBK corporate identity and all it entails, comes a brighter perspective on what we view as the future of banking. It is a vision based on the determination to approach banking in an innovative manner. Simply, we are recognizing a shift towards our clientele's aspirations for the ideal banking experience. Gradually, but surely these aspirations are being translated into a manner of delivering banking solutions to BBK clients. We are optimistic and confident that BBK will personify this bright new future before us.

Islamic Mortgage Financiers



Buoyed by the reception that the project has attracted, Abraj Al Lulu signed a strategic agreement with reef-Real estate Finance Company to provide Islamic Mortgage financing to prospective investors. This will be extended through its popular Ljarah Muntahia Bitamleek or lease to Own Programme. According to the agrrement, Reef will offer up to BD 350,000 ( US$ 920,000) for a period ranging between 5 to 22 years. With salary requirements as low as BD 350.000 per month, customers will be able to avail flexible monthly repayment helping them accommodate their other financial commitments. Commenting on the signing of the agreement, Dr.Khalid Abdullah, CEO of Reef said " Owing a home is a realization of a lifelong dream and Reef is firmly committed to fulfilling that dream by making it more affordable and convenient."

Reef-Real Estate Financing Company was set up in 2005 with a paid-up- capital of BD 20 million, to offer funding for retail, commercial and investment purposes. Its excellent quality driven business model, bases on sound mortgage lending principles gives investors increased access to real estate solutions. It's most popular Ljarah Muntahia Biltamleek product is designed gives investors the opportunity to own their property at the end of the lease period with the freedom to set their own repayment schedules.

Mr.Mohammed Dadabhai; Chairman of Pearl Real Estate Development Company said " Reef is the fastest growing real estate and mortgage financing providers and this agreement answers the need to bridge the demand - supply gap in this sector"

The Arabic word SAKANA has deep Islamic and poetic resonance reflected in our beliefs. SAKANA is a resource intending to provide peace, serenity, tranquility and unity throughout each step on the way in making every home flourish in harmony and prosperity.

SAKANA is built through a 50:50 partnership between two leading banks - BBK and Shamil Bank, Bahrain. The combined knowledge, experience and expertise of shareholders enable us to be the vehicle of innovative and encompassing solutions provider to the housing and real estate sector.

Sakana's Shari'a compliance ensures adherence to Islamic finance principles and providing a solid foundation for developing modern Islamic business practices.

Sakana further simplifies buying a property in Abraj Al Lulu because the development is offered on a freehold basis and is therefore available to GCC nationals, expatriate residents of Bahrain and non-resident international buyers - all of whom can apply for a Sakana mortgage. The innovative mortgage provider also offers the longest repayment term in the Gulf meaning that a wider group of people can enjoy the contemporary and vibrant nature of the Abraj Al Lulu lifestyle.

Mr. R. Lakshmanan, CEO of Sakana, commented: "The timing is perfect for Sakana to join forces with Abraj Al Lulu as this prestige development is in the advanced stages of construction. Sakana can bring an element of added value to buyers through our in-depth knowledge of the financing requirements backed up by our simple and rapid finance approval procedures and processing."

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To assist you, please contact our Financial Controller, Mr.Durgesh Purohit on mobile number +973 39186707 or call our sales centre +973 17587575, or email - durgesh@abrajallulu.com