Manama, the Kingdom of Bahrain: Khaleeji Bank, one of the leading Islamic banks in the Kingdom, has recently signed a Memorandum of Understanding “MoU” with ASK Real Estate, the prominent Bahraini real estate service company. This partnership marks a significant milestone in the 2nd development phase of the "Beaut Al Budaiya" project, an ambitious initiative aimed at creating a sustainable city in Budaiya’s coastal area.

Under this memorandum, Khaleeji Bank and ASK Real Estate will collaborate to provide financing solutions for the "Beaut Al Budaiya" project, the first of its kind in Bahrain. The project features residential villas designed per international standards and offers an integrated modern city and a vibrant community. This project is primarily aimed at Bahraini citizens eligible for the “Mazaya” social housing program and offers a range of reasonably priced residential villas, including 4- and 3-bedroom units of various sizes and designs, catering to the needs of contemporary Bahraini families in a modern and sophisticated residential unit.

On this occasion, Ms. Ameera Ahmed Al Abbasi, Head of Retail Banking at Khaleeji Bank, stated “The “Beaut Al Budaiya” project perfectly aligns with our unwavering dedication to delivering innovative and sustainable housing solutions to our valued clients. By partnering with ASK Real Estate in this exceptional venture, we strive to foster the growth and evolution of the Kingdom’s real estate industry, while also bolstering endeavours aimed at fortifying the collaboration between public and private sectors. Our goal is to provide citizens with contemporary housing solutions.”

On his part, Mr. Karim Yazji, Chief Executive Officer of ASK Real Estate, said “We are proud of this collaboration with Khaleeji Bank in this phase of the “Beaut Al Budaiya” project, as it represents an important step in the Kingdom’s real estate landscape through providing a community that combines modern living and a strong community spirit. We also believe that this partnership with Khaleeji Bank will greatly enhance the project’s success and its achievement of our desired goals.”

The “Beaut Al Budaiya” project is located at a strategic area in Budaiya within the Northern Governorate that enables easy accessibility from Hamad Town, Budaiya Highway, and Janabiya Highway. The project also boasts an excellent location surrounded by many facilities and amenities, including gas stations, supermarkets, the Budaiya Farmers Market, Budaiya Beach, parks, shopping areas, retail outlets, educational institutions, and more.

This partnership between Khaleeji Bank and ASK Real Estate reflects their shared vision of providing sustainable and comprehensive housing solutions that cater to the evolving needs of Bahraini families. By leveraging their respective expertise, the two entities aim to redefine modern living in the Kingdom of Bahrain.

Khaleeji Bank is a leading Islamic bank that strives to achieve clients' ambitions through an Islamic banking model that offers a comprehensive range of high quality Shari'a-complaint banking services and investment opportunities to individuals and companies.