Sakana Holistic Housing Solutions launches

Built through a 50:50 joint venture between two leading banks in Bahrain - Bank of Bahrain and Kuwait (BBK) and Shamil Bank - Sakana's arrival brings a unique mortgage finance model based on Islamic Sharia'a principles that will open up opportunities for more people to buy their dream home or a plot of land.

Based on the one-stop-shop concept Sakana will go beyond basic mortgage finance to deploy a package of solutions for home buyers that includes property financing, development, brokerage and management.

The company's name, "Sakana" is derived from the Holy Quran and is an Arabic word meaning home, calmness and serenity. The Sakana brand inspires the company's business ethos which is based on a modern, Islamic culture underpinned by a commitment to honesty, integrity and compassionate business practices. Sakana's holistic approach aims to make accessibility a key feature offering professional advice and a synergy of services through Sakana's network of housing sector service providers.

Sakana's official launch was attended by Dr. Farid Ahmed Al Mulla, GM & CEO of BBK and Mohamed Hussain, CEO of Shamil Bank, as well as the company's five Board Directors, and the Sakana's CEO, R. Lakshmanan. The event was held Sunday, 3rd December at the Ritz Carlton Hotel.

Commending the joint venture, Jamal M. Hijres, Chairman of Sakana Holistic Housing Solutions said:

"The BBK and Shamil Bank joint venture brings together a Board of Directors with a wealth of knowledge and collective experience, giving Sakana a solid foundation and a clear direction and focus."

"The joint venture which has made the launch of Sakana possible brings together the two financial powerhouses of BBK and Shamil Bank. This substantial combination brings a pedigree of professional experience and a wealth of expertise that will enable us to deliver market leading mortgage finance and customer services in Bahrain and position us to become a catalyst for the prosperity of the housing sector and the innovator of holistic housing solutions," he added.

"We believe Sakana has an important role to play in helping more people to fulfill their dream of home ownership. While the decision to acquire a home can be a difficult experience, Sakana's Customer Advisors will provide the advice and support that will make this a positive and enjoyable experience,"

"Our unique financial model combines industry best practice with a new breed of housing solutions. Our customer's interests are at the core of our services, and our creative consultancy and advisory services will deliver innovative finance products sourced and tailored to match peoples' specific needs."

Sakana's strategic objectives involves careful planning and leadership to position the company to meet the growing needs of the housing sector. Its model is based on strong partnership alliances that will position the company as a hub for a network of housing related service providers - from architects, real estate companies etc. and driving research and development that will inspire legislation supporting homebuyers' rights and needs.

Sakana's multi-skilled competencies ensure a flexible approach to the provision of services for a range of potential clients that include both residents and non-residents as well as corporate clients, with a broad offer that includes financing solutions for purchase, construction, refinance, improvement or extension of a home, or even the purchase of land.

The first branch of Sakana opens today, and can be found conveniently located for easy access in the heart of Manama in the Ground Floor, Car Park Building close to Bab Al Bahrain. Office hours are 8 AM to 1 PM and 4 PM to 6 PM Sunday to Thursday.