EskanBank has formalized a strategic partnership with the Real Estate RegulatoryAuthority (RERA) through a cooperation agreement aimed at bolsteringtransparency and reliability within Bahrain's real estate sector.
Thiscollaboration was officially announced during the “Innovation in Social HousingSector” Summit and Conference, held under the esteemed patronage of His RoyalHighness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister,under the theme “Towards Innovative and Sustainable Housing Solutions.”
Theagreement focuses on the systematic documentation and verification of propertydata listed on Eskan Bank's "Baity" Real Estate platform, andintegrating this data with RERA's "Aqari" platform to facilitatedetailed analysis of market demand, consumer behavior, and property trends.This integration will also enable cross-verification of real estate informationbetween the two platforms, ensuring data accuracy and enhancing markettransparency.
Mr.Abdulla Taleb, General Manager of Eskan Bank, emphasized that thiscollaboration represents a significant advancement in the Kingdom's efforts toenhance the efficiency and transparency of the real estate market, andcommented, “This partnership will provide accurate data to support citizens intheir property ownership journeys and assist in the development of informedhousing policies and plans. Furthermore, the initiative will enable Eskan Bankto offer more effective real estate services while maintaining the higheststandards of data reliability on the Baity platform.”
"Throughthis partnership, we aim to contribute to the development of preciseperformance indicators for the real estate sector, supporting ownership andinvestment decisions for a broader segment of beneficiaries," Mr. Talebstated. "We also seek to establish new benchmarks for transparency thatwill enhance the Baity platform's role in providing comprehensive housingsolutions, aligning with the requirements of financing programs offered by theMinistry of Housing and Urban Planning."
HisExcellency Eng. Essam bin Abdullah Khalaf, Chairman of RERA, stated, “Thispartnership aligns with our strategic vision of fostering collaboration withkey stakeholders to develop a more integrated and accurate understanding ofmarket needs. It further strengthens the position of the Aqari platform as theauthoritative national source for real estate data, supporting informeddecision-making across the sector.”
Chairmanof RERA further added, “By leveraging artificial intelligence and cutting-edgereal estate technologies, Aqari is enhancing the user experience and settingnew standards for digital transformation. We commend the Ministry of Housingand Eskan Bank for their progressive efforts through the Baity platform, whichhas played a vital role in streamlining access to housing services and keepingpace with the sector’s evolving demands.”
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