Sakana branches out into property consultancy by signing a US$20m MOU with R M Kooheji & Sons

The first step in this process was the recent signing of a US$20m MOU with developer RMK Projects, a division of R. M. Kooheji & Sons, which will allow Sakana to market "Nasmah", a freehold high-rise residential building in Juffair.

With this development, the innovative mortgage provider is offering end-to-end solutions including sales, marketing, contract administration as well as attractive mortgage finance deals.

Mr. R. Lakshmanan, CEO of Sakana, commented: "This is a bold step for a mortgage provider to take and we are confident that it will add to our appeal as a holistic provider of housing solutions. When a person buys a home, they want the process to be simple. This agreement will do just that, by offering a streamlined, one-stop-shop service for our customers, taking the headache out of buying and financing a property."

Mr. Ishaq Rashid Al Kooheji, President & CEO of R. M. Kooheji Group, said:"Having established numerous successful real estate projects over the past 15 years, we are sure that the combination of our and Sakana's experience in the real estate sector will make our first freehold tower a popular choice for home buyers and investors. The building is expected to be ready sometime in 2009."

With the aim of providing value to Sakana's customers and affiliates, a privileged launch will be held shortly, followed by a public launch. Potential buyers can register their interest by calling 17 20 19 20.