Al Salam Bank Finances All First Residential Units Handed Over to Beneficiaries at Danat Sanad

Al Salam Bank announced that it financed all of the first residential units handed over to beneficiaries at Danat Sanad, a Social Housing project developed under the Government Land Development Programme (GLDP), marking a new milestone in the Bank’s efforts to support Social Housing beneficiaries and facilitate their journey towards homeownership.

The achievement builds on Al Salam Bank’s earlier milestone at the same project, where the Bank completed the Kingdom of Bahrain’s first Social Housing financing transaction for an off-plan unit under the GLDP, enabling a beneficiary to purchase a residential unit at Danat Sanad.

Danat Sanad is a Social Housing project developed by Al Namal Contracting & Trading Co. W.L.L. under the GLDP, in collaboration with the Ministry of Housing and Urban Planning and Eskan Bank. The project comprises 47 residential units available to eligible beneficiaries through various Social Housing Financing programmes.

Commenting on the occasion, Her Excellency Mrs. Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, said: “The handover of residential units to beneficiaries represents an important milestone that demonstrates the tangible outcomes of collaboration between the public, private and banking sectors in supporting Bahrain’s Social Housing ecosystem. Danat Sanad is among the projects developed under the Government Land Development Programme, which contributes to expanding housing options for eligible citizens through collaboration with various partners.”

Her Excellency added: “We value the role of banking institutions in providing financing solutions to beneficiaries and look forward to further strengthening our collaboration with our partners to support Social Housing Financing programmes and facilitate citizens’ journey towards homeownership.”

Mr. Anwar Murad, Group Deputy Chief Executive Officer – Banking at Al Salam Bank, said: “We are proud to have financed all of the first residential units handed over to beneficiaries at Danat Sanad, particularly as this achievement builds on an earlier milestone delivered through the same project, when we completed the Kingdom’s first Social Housing financing transaction for an off-plan unit under the Government Land Development Programme. These achievements reflect Al Salam Bank’s capabilities in Social Housing Financing and our commitment to providing solutions that support citizens throughout the different stages of their homeownership journey.”

He added: “Social Housing Financing remains a strategic priority for Al Salam Bank, and we will continue working closely with the Ministry of Housing and Urban Planning, Eskan Bank and our partners across the private sector to support Social Housing initiatives and provide beneficiaries with a seamless and convenient financing experience.”

Abdulla Taleb, General Manager of Eskan Bank, said: “The handover of the first residential units at Danat Sanad marks an important milestone in our joint efforts to expand housing options available to citizens and strengthen collaboration with the private sector and banking institutions. We are pleased to see these efforts translate into tangible outcomes that support beneficiaries in achieving their homeownership aspirations.”

This achievement reaffirms Al Salam Bank’s commitment to supporting Social Housing initiatives through its financing capabilities and collaboration with relevant stakeholders, contributing to the provision of financing solutions that meet the needs of eligible citizens and support their aspirations for homeownership.