Mortgages are becoming more and more difficult to obtain because of the credit crunch. Real Estate companies are offering a variety of payment options to facilitate market activity in the Real Estate Sector. We need to address the current problem as most buyers do not have access to credit, mortgages or loans.

Our motive is to provide our esteemed clients a good price, a great payment plan without needing bank financing, and last but not least, a good product. These are the three key elements that drive our valuable clients. This is the first time in Bahrain that such a reliable and convenient payment plan is being offered with a tenor of up to 36 months. The Developer is essentially being a Developer and a Finance House by offering unparalleled payment terms. It's one thing to have a 5 year (60 month) payment plan on an off-plan project, its completely another to offer a 36 month rent to own lease where you practically rent the freehold property and own it in approximately 3 years.

ASDC & IRIS's plan for Rent to Own schemes are aimed at making it easier for customers to purchase property in Bahrain. We aim to strengthen the property sector by facilitating easier purchases and making property more affordable for our customers.

The plan will be quite simple; 50% payment during construction period and then 10 % by the completion date of the project, December 2009. The remaining 40% will be divided over a maximum span of 36 months. The burden of huge payments every three to four months will be reduced from the clients and easy and affordable installments will be set up on a monthly basis. It's an absolute no-brainer especially with the excellent prices, luxurious quality and convenient payment terms!

IRIS W.L.L. offers an exclusive 3 bedroom, 3 bathroom apartment for rent in the Mar Mar 2 building in Juffair. The apartment is fully furnished and all three bathrooms have been changed from the original developer's design.

Apartment Features:

- Spacious living room
- Sauna
- Steam Room
- Swimming Pool
- Fully Equipped Gymnasium
- Covered Parking
- Satellite & Internet

Rental Price: BD 1,000/month (negotiable)

Contact us for more information.

The Central Bank of Bahrain (CBB) welcomed a new global vote of confidence for Bahrain's economic performance and management of the domestic economy.

International rating agency, Fitch, reaffirmed on 28 May 2009 Bahrain's long-term foreign currency Issuer Default Rating (IDR) at "A" and long-term local currency IDR at "A+", both with stable outlooks. The Country Ceiling is also affirmed at "A+". Continuous growth in Bahrain's non-oil sector as well as enhanced political and economic reforms were taken into account by Fitch for the rating reaffirmation.

"Bahrain's economy has grown by 6.3% in constant prices in 2008," said Mr. Rasheed Al Maraj, the Governor of the Central Bank of Bahrain. "The Financial Sector remains the largest contributor to the economy representing around 27% of real GDP" he added.

In 2008, the value added of the financial sector to the economy in real terms has grown by 5.6% despite the financial turmoil.

"We are very pleased to welcome this reaffirmation of Bahrain's Sovereign credit rating, especially in light of the current international market situation, and the sharp decline in oil prices in comparison to last year," said Mr. Al Maraj. "This rating is a testament to the Kingdom's strong position as the centre for banking and finance. The CBB, on its part, will continue its robust, yet market-friendly, regulation and supervision of the financial services industry, to support the Government's many economic initiatives, with the ultimate goal of improving the standard of living of all citizens," the Governor added.

Real Estate Developers in Bahrain are awaiting the completion of the upcoming Doha-Manama causeway in 2013 to see a real estate boom as demand for property for foreigners is likely to surge.

Developers in Manama are mostly focusing on affordable housing and currently on offer are apartments of a minimum of 77 square meters with prices beginning from a low of QR7,000 per square meter.

Middle-income expatriates from Qatar can hope to buy apartments in Bahrain for investment or their personal use as the prices of residential units range from as low as QR500,000, with banks there offering long-term soft mortgage loans.

There are currently 15 to 20 high-rise residential towers being built in Bahrain, where apartments are sold on freehold basis and residency visas are issued for 99 years in one go unless an owner sells off or transfers a property.

One can also work and do business in Bahrain if one has a 99-year residency visa, said a developer who was here to take part in the mega real estate exposition held at the Qatar International Exhibition Center.

Jamal Al Issa, Vice-President of MJM Group, a Kuwaiti investment company which is developing residential property for foreigners in Bahrain, told this newspaper yesterday that his focus was on middle-income users, among them long-time expatriates from Qatar and other GCC states.

Sounding excited about the upcoming Manama-Doha causeway, he said he hoped a lot of Indians, Britons, Pakistanis and even Americans based in Qatar and other GCC countries would like to buy properties in Bahrain once the causeway opens in 2013.

Bahrain is a free country and the prices are affordable, the developer said. Banks there are providing long-term mortgage loans for up to 80 percent of the value of a property depending on the bank statements and credibility of the buyer.

Expatriates in Qatar can seek mortgage loans for properties in Bahrain as well. "In our first phase, we are building 253 apartments, some 85 percent of which are already sold off," said Al Issa.

The maximum price per square meter in his project is equivalent to QR9,000, he said, as opposed to average prices of properties for foreigners here starting from around QR15,000 per square meters.

The apartments in the first phase of the MJM project will be ready for occupancy by early 2012 and then the title deeds will be handed to owners.

Contact one of our real estate agents for more information