LAHORE: JS Bank has joined hands with MIDCITY Housing to help people own their own house through provision of low-cost house finance facilities under the government’s markup subsidy scheme ‘Mera Pakistan-Mera Ghar’, backed by the State Bank of Pakistan (SBP).
The partnership aims to help individuals and families purchase property in MIDCITY Housing schemes by availing financing facilities at minimal markup.
The agreement was signed between Zulfiqar Ali Lehri, distribution head consumer lending at JS Bank, and Muhammad Moin Safdar, director marketing at MIDCITY Housing.
Speaking on the occasion, Zulfiqar Ali Lehri said, “Together with MIDCITY Housing we are committed to giving people opportunity to own a house for themselves and their families under the Government of Pakistan (GoP) scheme. We are committed to serving our fellow citizens and supporting the GoP for a better and more prosperous country.”
Muhammad Moin Safdar shared his vision for the project by saying that MIDCITY Housing is a first of its kind community project in south of Lahore, aiming to provide environment friendly community living experience for its residents. The infrastructure, he continued, promotes concept of healthy lifestyle, therefore, basic civic facilities can either be accessed within walking distance or through cycles, providing a pollution free environment.
The collaboration with JS Bank will help MIDCITY’s potential consumers to avail mortgage home financing facility to buy homes, apartments or construction of their plots through the scheme on easy installments, he added.
With this partnership, JS Bank intends to contribute to the government’s initiative in providing access to affordable housing facilities. Under the scheme, people will be able to borrow as much as 90% of the property value.
Present on location were also JS Bank’s head of secured lending Fahad Siddiqui, channel head institutional partnerships Adil Maqsood, and other team members.