Sakana Holistic Housing Solutions' board has named Abdul Hakim Al Mutawa as the new chairman.

The company's mortgage underwriting of BD28 million ($74.2 million) last year was boosted by performance for the first two months of this year with underwriting in excess of BD6 million ($16 million).

This was announced during the company's board meeting chaired by incoming chairman Abdul Hakim Al Mutawa of Shamil Bank, who takes over the two-year rotating position from outgoing chairman Jamal M Hijres of BBK.

"Taking over Sakana's chairmanship at this exciting time of innovation and growth presents me with both a challenge and an opportunity, Mr Al Mutawa said.

"This year will be business as usual for Sakana in the sense that we will continue to deliver better choice and service to our customers," said chief executive officer R Lakshmanan.

Sakana is currently reviewing its business plans in line with growing opportunities and changes in the real estate market.-TradeArabia News Service