Sakana In Home Financing Deal With Fontana Towers
Manama, Bahrain 10 April 2012

(L-R): Abdrabalnabi Ahmed Almaa, Abdulghaffar Al Kooheji, R.Lakshmanan, Anayat Jaberi Jamal

Bahrain-based Sakana Holistic Housing Solutions, the Islamic mortgage finance provider recently signed a Memorandum of Understanding (MOU) with The Developers WLL developers of Fontana Towers, Juffair for providing Sharia'a compliant home finance to end users. The agreement will pave the way for Bahrainis and non-Bahrainis to own a luxury home in Fontana Towers, a residential freehold tower consisting of 400 apartments and penthouses.

Sakana will be offering attractive home finance packages up to 90% of property value with finance term up to 30 years and maximum finance restricted to BD 350,000. Sakana will provide home financing to customers of all nationalities residing in Bahrain, the GCC and outside GCC subject to terms and conditions.

Mr. R. Lakshmanan, CEO of Sakana said: "We are pleased to partner with Fontana Towers which has set a new benchmark for property development in the Kingdom of Bahrain. Our partnership with Fontana Towers was a natural choice as we are both dedicated to quality and innovation." Mr. Abdulghaffar Al Kooheji, Partner, The Developers WLL said: "Sakana is the ideal partner to provide our valued customers with mortgage finance options and we are glad to conclude this arrangement now as the Fontana Tower is ready for handover. Despite tough market conditions we have successfully completed this high quality residential freehold development without comprising on its lavish facilities."

Fontana Towers is designed with a blend of sophistication and elegance and a symbol of luxury and modern living with 400 freehold apartments – studios, 1, 2 and 3 bedroom apartments and exclusive penthouses in 4 interconnected skyscrapers. Features include exclusive male and female fully equipped gym, indoor pool for females and children's water park, communal outdoor swimming pool with sundeck, health club, courts for tennis, basketball, squash, indoor games room, kids play area, mini-theatre, private café, multi-purpose halls, fully equipped business centre and convenience stores.


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