The Local Real Estate Department Manager at Kuwait Finance House (KFH) Salah Al-Khamees said that KFH continues to offer services and products that meet the requirements of its clients, such as financing international real estate in most countries up to KD 70,000 over 10 year installments if the client has a KFH salary account. However, he added that KFH can increase the ceiling of financing if the client submits other monthly sources of income other than the salary.
He explained that financing the acquisition of international real estate is a KFH priority, and revealed that KFH can finance international real estate for its clients using flexible payment methods, in addition to having two parties in the contract. He went on to say that selecting the suitable international real estate for the client will be of great benefit if the client decides to rent the real estate, not to mention granting the client a good opportunity of selling the real estate and making profit.
Moreover, he stated that KFH offers this service in Bahrain through Murabaha and Ijara, and added that there is a legal firm in Lebanon that supervises acquisitions and documents. He noted that procedures take from 10 to 15 days to complete all paper work, and advised clients to visit the department at Baitok Tower on the 10th floor, or any real estate branches before travelling to receive additional information. He also advised clients to make investigations concerning the external authority that they will deal with, and to seek a fair price assessment for the real estate made by an unbiased authority.
Furthermore, he mentioned that Murabaha is still the best choice for acquisition, and that it is of great benefit for clients, since there are fixed prices, because the price remains fixed once the Murabaha deal is completed, despite any other circumstances.