MUSCAT – Oman Arab Bank is setting a new benchmark in house financing with an unprecedented turnaround time of just 48 hours for Al Dar Housing Loan approvals, subject to complete documentation. Designed to significantly simplify and expedite the homeownership process for both Omanis and residents alike, more families across the Sultanate can now own their dream homes.

Providing flexible solutions for multi-purpose financing needs including purchase of ready and under construction properties, land, renovation and self-construction, the loans are structured to be incredibly customer-friendly, requiring minimal branch visits and providing an easy-to-navigate application process. For first-time home buyers, the Al Dar Housing Loans offer an attractive Loan-to-Value ratio (LTV) of up to 90%, while for subsequent home purchases, an LTV of up to 80% can be availed. Competitive interest rates further add to their appeal.

“Our quick and efficient approval process is a game-changer in the housing loan sector,” said Khalid Al Amri, Chief Retail Banking Officer at Oman Arab Bank. "Owning a home is an important milestone in a person’s life and for many, a life-long dream. We understand the sense of permanence, pride, stability and security it brings and we are proud to be able to help customers turn their dreams into reality.”

The Al Dar Housing Loan scheme was prominently featured at the Oman Real Estate Expo (OREX), which took place during the Oman Design & Build Week at the Oman Convention and Exhibition Centre. The event provided the perfect platform for introducing the new loan scheme to a wider audience, showcasing OAB’s role in facilitating innovative and accessible home ownership solutions. One lucky customer who visited OAB’s stall has won a furniture voucher worth OMR 500 each.

Customers can learn more about how Al Dar Housing Loans can facilitate their journey to owning a home, by visiting the nearest OAB branch or the Bank’s website.

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Dalal Al-Rahma
Corporate Communication Department