Sakana financially empowers customers with latest product offering

The company's new Equity Release solution financially empowers home owners by providing funds against the current value of an individual's existing property, using the property deed as collateral.

Sakana's Chief Executive Officer, Mr R. Lakshmanan, said: "Our Equity Release solution is a highly versatile financial tool that has been introduced in response to the needs of our customers who are on the 'higher rungs' of the property ladder. As existing home owners they are able to unlock the value of their property assets which will inherently be substantial, given the phenomenal growth in the value of Bahrain real estate over the past few years."

Customers who take advantage of Sakana's Equity Release solution can achieve their financial goals. For example, they can use the released equity to purchase a second home or investment property, undertake home renovations or make extensions to an existing property; or they can use the proceeds to fund their children's education or even generate investment capital to start up a business.

"By releasing the equity in their property people now have greater ability to unleash the power of their real estate assets and many will discover that they have far greater wealth than they may realise," added Mr Lakshmanan.

While Equity Release is a well established financial tool in US and European mortgage markets, it is still a relatively new concept in the Gulf and Sakana is pleased to be able to help its customers realise their aspirations through this and its other products as part of its commitment to create quality and innovative housing solutions that are specific and relevant to market needs.