NBB Finances the First Plot in Al Msayyan Project under ‘Mazaya 2.0’ Social Housing Product

6th February 2023

The National Bank of Bahrain (NBB) has announced financing the first plot in Al Msayyan Project, under the social housing financing product, Mazaya 2.0 Finance. In collaboration with the Ministry of Housing & Urban Planning, and Eskan Bank, NBB ensured providing a smooth and fast processing to the beneficiary as part of the new housing finance programme.

Commenting on the occasion, Dr. Khalid Abdulla, General Manager of Eskan Bank, said: “We are pleased to be witnessing the successful outcome of our latest products, Mazaya 2.0 Finance, which aims to increase the number of beneficiaries benefiting from the array of financing solutions across the Kingdom. Our continued partnership with banks has enabled us to fulfil the diverse housing requirements of our citizens through the variety of social housing products offered.”

He added: “The “AlMsayyan” project is located in the heart of Diyar Al Muharraq and it considered as one of the distinguished projects that were launched in the real estate exhibition that took place in Bahrain City Centre, the project was offered exclusively to the new social housing products, Tas’heel and Mazaya 2.0 Finance. Beneficiaries can opt for the new social housing products either from Eskan Bank or from one of the participating banks.”

On his end, Subah Abdullatif AlZayani, Chief Executive Retail Banking on NBB, said: “NBB is committed to supporting financing programmes that enable our customers to realise their home ownership dream. Our longstanding partnership with the Ministry of Housing & Urban Planning, as well as Eskan Bank, has ensured future homeowners benefit from easy processing and facilitated access to affordable housing projects in modern cities.”

NBB continues to honour its partnership with the Ministry of Housing & Urban Planning and Eskan Bank, providing Bahraini citizens with facilitated home financing options to meet their housing requirements. Customers wishing to benefit from the Mazaya 2.0 Finance product at NBB will avail attractive interest rates, smooth approval process with flexible finance repayment terms for up to 300 months. Future beneficiaries will enjoy free fire insurance as well as borrowing 100% of the total property value.

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