Present at the signing ceremony were Mr. Abdulhakeem Alkhayyat, Managing Director CEO of
KFH-Bahrain
, Mr. Abdulla Buhindi, the
Banader
Hotel Chairman, Mr. Sattam Algosaibi, Executive Manager and Head of Corporate Banking Group in KFH – Bahrain, Mr. Jehad Amin – Vice Chairman of
Banader Hotels
, and Mr. Abdulrahman Al Mokla – Acting General Manager for the company.

On this occasion, Mr. Abdulla Buhindi, the
Banader
Hotel Chairman commented “We chose
KFH-Bahrain
out of a number of other Bahraini Banks because it has unique Islamic financing solutions that suit our needs. The financial crisis affected many real estate projects in the region, where some of them ceased production due to the lack of funding. Therefore, we thank
KFH-Bahrain
for providing the financing for this project which confirms its confidence in the Kingdom’s economy as well as its support of the project and the shareholders behind it”.

“This funding will provide the finance to resume work on the
Banader
Rotana Hotel project which is conveniently located in the center of the capital Manama. It aims to provide high-end hotel services in accordance with international standards. Upon completion, the hotel will be managed and run by a specialized and well-known company.” He added.

Mr. Abdulhakeem Alkhayyat, Managing Director CEO of
KFH-Bahrain
commented, “We are pleased to have been approached by
Banader Hotels
for this transaction; finalizing this agreement is a significant milestone for our relationship with
Banader
Hotel. Through its various Banking services and advocacy of growth,
KFH-Bahrain
targets involvement in growth initiatives which support and contribute to the economy of the Kingdom of Bahrain.

“As it is a directive of
KFH-Bahrain
, the participation in such transactions from financial institutions is essential in aiding the improvement of various industry sectors in the Kingdom.”

Mr. Sattam Algosaibi, Executive Manager and Head of Corporate Banking Group in KFH – Bahrain, also commented “We are pleased to have concluded this agreement with
Banader Hotels
and participate in the completion of this project. This financing agreement will aim to maximize the value of the project to the benefit of all its stakeholders. In
KFH-Bahrain
we are always interested in partaking in financing transactions of such high caliber to contribute to the growth of businesses in the Kingdom of Bahrain.”

Banader Hotels
Co. commenced work in the construction of a 28 story five-stars Hotel and furnished apartments consisting of 251 rooms which include 46 deluxe rooms and 24 private suites. The project will also incorporate other various hotel services. The
Banader
Rotana Hotel project is well located within the vicinity of government buildings, Bab Al Bahrain, Bahrain Financial Harbour and commercial markets.
-Ends-

About Kuwait Finance House, Bahrain
Kuwait Finance House-Bahrain provides Islamic commercial and investment banking services. Established in 2002 as a wholly owned subsidiary of Kuwait Finance House (Kuwait) — an industry leader for more than 30 years —
KFH-Bahrain
specializes in developing and bringing to market the highest quality Islamic compliant banking and investment products, all of which are delivered by a staff of experienced and dedicated professionals with a deep understanding of the market and the clients we serve.

© Press Release 2013

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