HBL Islamic Banking and Dolmen Group recently entered into a strategic partnership, as per which, they are to provide access to premium real estate using the Islamic Home Financing facility.
This facility has been rolled out for Dolmen Group’s customers and Grove Residency is the first project which is being offered Shariah Compliant Home Financing through this partnership. Grove Residency is a premium residential community development by Dolmen Group comprising of three residential towers with modern amenities.
The project is currently under construction and is expected to be completed in 2023. Under this arrangement, HBL Islamic Banking offers a Home Financing Facility of up to 70 percent of cost of each unit for a period of up to 20 years to pre-approved customers of Grove Residency.
This finance facility will have preferential rates and will be dispersed to the customer at time of handover of project.
Commenting on the arrangement, Afaq Khan, Head – HBL Islamic Banking, said: “As the largest Bank in Pakistan, our vision is to provide Shariah compliant home financing solutions to all segments of society. Premium housing will no longer just be a dream, because this facility will enable customers to have the flexibility and convenience to afford it. HBL is pleased to partner with the Dolmen Group, Pakistan’s leading Premium Real Estate Developers.”
Faisal Nadeem, Director Dolmen Group said: “We are delighted to offer a differentiated Home Financing Facility to complement a unique residential development. Dolmen Group aims to reshape the community living experience over the next few years with the development of premium apartment projects. Making such developments accessible to the wider community is an important part of our vision and HBL being the largest bank in Pakistan will be a key player in helping us realise that goal.”
Source Pakistan Observer