03 July 2011
MUSCAT: AQAR (Al Khonji Real Estate & Development) has been inundated with calls from Omani and GCC residents wanting to purchase homes from their newest real estate project Rimal -- with only a limited number of apartments left.
Rimal's success has been due to the development's location in the heart of the city, the modern and flexible living spaces that are now being sought after by young professionals, and the affordable payment plan that allows homeowners to spread their payments over 42 months.
The success of Rimal has been overwhelming for brothers Mohammed and Qaboos Al Khonji and they are sure that Rimal has reinvigorated the real estate market here in their home country. The brothers are encouraging other developers to join them to satisfy this segment of the market that has been seeking for a long time well designed and centrally located, modern homes at affordable prices.
Mohammed Al Khonji, chairman and chief executive of AQAR said: "My brother and I continue to be overwhelmed by the success of Rimal. In our wildest dreams we did not imagine that we would sell out so quickly. We have few apartments left so to those who are thinking about purchasing now is the time to contact Better Homes Oman, before the last units sell."
Better Homes Oman has been flooded with inquiries from buyers wanting to purchase a home for a long-term investment or as an end user -- a strong indication that Omani nationals are passionate about investing in their country and see Rimal as one of the first projects since the 2008 that has everything right -- the location, the price, amenities and payment plans.
Changing realty scene
The shift in buying behaviour is also reported by Better Homes Oman to be due to the competitive deals banks are now offering to homeowners, lending has increased and interest rates are now becoming more competitive and affordable for those looking to purchase their first home.
Lucy Parker, sales manager at Better Homes Oman said: "Rimal is one of the first projects for a long time that is giving customers exactly what they want and need. Traditionally it has been hard to find a development with everything that Rimal has to offer in the heart of Muscat but here we find a complex that has 254 apartments, two swimming pools, two health clubs, a shopping mall, restaurants, climate controlled corridors and three-level underground parking -- all at affordable price.
Long-term investors
"Through the success of Rimal, we are seeing a change in the way that young Omanis want to live -- open living spaces are now sought after whereas before separate rooms were preferred for cooking, dining and relaxing. The people buying from Rimal are long-term investors or end-users -- a big change when compared to the speculation that occurred during the property boom. I am sure that this project has changed the real estate market here in Oman and that we will see more and more projects just like Rimal coming to the market," it said.
All apartments come with a selection of white goods including an electric cooker, refrigerator and extractor hood, a washer/dryer, split air conditioning and fitted wardrobes as well as a selection of contemporary, high-quality fixtures and fittings.
Telephone, internet, cable and satellite connections all come as standard providing all new residents with everything they need to start their new life at Rimal.
MUSCAT: AQAR (Al Khonji Real Estate & Development) has been inundated with calls from Omani and GCC residents wanting to purchase homes from their newest real estate project Rimal -- with only a limited number of apartments left.
Rimal's success has been due to the development's location in the heart of the city, the modern and flexible living spaces that are now being sought after by young professionals, and the affordable payment plan that allows homeowners to spread their payments over 42 months.
The success of Rimal has been overwhelming for brothers Mohammed and Qaboos Al Khonji and they are sure that Rimal has reinvigorated the real estate market here in their home country. The brothers are encouraging other developers to join them to satisfy this segment of the market that has been seeking for a long time well designed and centrally located, modern homes at affordable prices.
Mohammed Al Khonji, chairman and chief executive of AQAR said: "My brother and I continue to be overwhelmed by the success of Rimal. In our wildest dreams we did not imagine that we would sell out so quickly. We have few apartments left so to those who are thinking about purchasing now is the time to contact Better Homes Oman, before the last units sell."
Better Homes Oman has been flooded with inquiries from buyers wanting to purchase a home for a long-term investment or as an end user -- a strong indication that Omani nationals are passionate about investing in their country and see Rimal as one of the first projects since the 2008 that has everything right -- the location, the price, amenities and payment plans.
Changing realty scene
The shift in buying behaviour is also reported by Better Homes Oman to be due to the competitive deals banks are now offering to homeowners, lending has increased and interest rates are now becoming more competitive and affordable for those looking to purchase their first home.
Lucy Parker, sales manager at Better Homes Oman said: "Rimal is one of the first projects for a long time that is giving customers exactly what they want and need. Traditionally it has been hard to find a development with everything that Rimal has to offer in the heart of Muscat but here we find a complex that has 254 apartments, two swimming pools, two health clubs, a shopping mall, restaurants, climate controlled corridors and three-level underground parking -- all at affordable price.
Long-term investors
"Through the success of Rimal, we are seeing a change in the way that young Omanis want to live -- open living spaces are now sought after whereas before separate rooms were preferred for cooking, dining and relaxing. The people buying from Rimal are long-term investors or end-users -- a big change when compared to the speculation that occurred during the property boom. I am sure that this project has changed the real estate market here in Oman and that we will see more and more projects just like Rimal coming to the market," it said.
All apartments come with a selection of white goods including an electric cooker, refrigerator and extractor hood, a washer/dryer, split air conditioning and fitted wardrobes as well as a selection of contemporary, high-quality fixtures and fittings.
Telephone, internet, cable and satellite connections all come as standard providing all new residents with everything they need to start their new life at Rimal.
© Times of Oman 2011
