MUSCAT -- Bank Muscat, the flagship financial services provider in the Sultanate, and Omani Home Real Estate Development company signed a memorandum of understanding (MoU) to provide attractive baituna home finance for Al Mabelah Residence and Bait Yousif Building projects. Said al Badai, DGM, Branches, and Mahmood al Lawati, Managing Director of Omani Home Real Estate Development company, signed the MoU at the bank's head office.
Said al Badai said: "Bank Muscat is happy to extend yet another attractive option for prospective home and commercial space buyers in Oman. The real estate sector is a major component of the national economy and Bank Muscat is committed to extending all possible support to achieve the objective of a 'home for every family', especially youth. Baituna home finance is aimed at offering citizens and residents easy access to mortgage finance, thereby contributing to the revitalisation of the real estate sector and enhancing its role in the national economy."
Mahmood al Lawati said: "We are happy to join hands with Bank Muscat in extending attractive home deals for Omanis. The co-operation between the two institutions will benefit citizens across Oman to fulfill their dream homes."
The construction of Al Mabelah Residence project comprising 80 villa units started by the end of 2013 and is expected to be completed in three phases over a period of 30 months. Bait Yousif Building is a 12 floor residential/commercial project located in Mabellah south.
Baituna home finance is among the lowest interest rate with the maximum loan tenure up to 25 years for Omani customers. With extended loan tenure and the lowest interest rate, Bank Muscat facilitates the best home finance deals in the Sultanate. Citizens and residents can avail easy and convenient credit approval across the bank's 137 branches in the Sultanate.
Baituna home finance is designed to help families fulfill their dream homes.
© Oman Daily Observer 2014
