Bahrain’s Al Baraka Islamic Bank unveils ‘Danat Al Baraka’ housing project

By Amirtha P S, Trainee Reporter
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Al Baraka Islamic Bank
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One of the leading Bahrani financial institutions Al Baraka Islamic Bank (AIB) is launching the “Danat Al Baraka” project in Janusan, one of the most prominent housing and real estate plans by joining with the Ministry of Housing and Eskan bank in the Kingdom.

The project was officially inaugurated by the Minister of Housing, Basim Bin Yacob Al Hamer, last day. Eskan Bank, one of the leading government banks in the Kingdom, will be managing investments in the project, whereas Eskan Properties, a wholly-owned subsidiary of the bank, will manage and supervise the project development work.

The “Danat Al Baraka” project includes 211 modern villas with four different contemporary designs, consisting of two floors with 4 rooms, a spacious hall, a kitchen and annex for a domestic worker, and a garage consisting of two parking spaces. The residential units of the project will be made available immediately for purchase within the “Mazaya” program for social housing. 

The project is built on a land of 73,514 square meters in Janusan village of Bahrain. The initiative is the fifth in a series of “Danat” programs, which includes, “Danat Al Madina”, “Danat Al Riffa”, “Danat Al Seef” and “Danat Al Lawzi”. 

Tariq Kazim
Tariq Kazim
GM – Business Group
AIB

“Firstly, we are grateful for the sponsorship of his Excellency Eng. Basem Bin Yacoob Al Hamer, Minister of Housing, and the inauguration of the “Danat al Baraka” project, which commenced work in 2016 and was completed according to the set timeframe, despite the circumstances and challenges that we faced.”

Al Baraka Islamic Bank

Founded in 1984 in Bahrain, the Al Baraka Islamic Bank (AIB) has created a track record of delivering excellence, innovation and superior results. The bank ranks among the top providers of Islamic banking services to its international clients and focuses primarily on developing innovative and distinguished Investment solutions in compliance with Islamic Sharia principles, supported by its sound financial solutions.

Related: Bahrain’s real estate sector recovers; Posts positive numbers by 2020 end

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