MUSCAT, 3 February 2013 – Bank Muscat, the flagship financial services provider in the Sultanate, and Salam Properties signed a memorandum of understanding (MoU) to provide attractive baituna housing finance for Salam Residence units in Baushar. Abdullah Tamman Al Mashani, AGM – Direct & Institutional Sales, and Aqeel Al Lawati, CEO of Salam Properties, signed the MoU at the bank's head office.
Abdullah Tamman Al Mashani said: “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', thereby contributing to the revitalisation of the real estate sector and enhancing its role in the national economy. baituna home finance is aimed at offering citizens and residents easy access to mortgage loans."
Aqeel Al Lawati said: “The objective of Salam Properties is to provide quality homes at affordable prices. We are happy to join hands with Bank Muscat in extending attractive home deals for Omanis. The synergy between the two institutions will benefit citizens across Oman to fulfill their dream homes."
baituna home finance is among the lowest interest rate with the maximum loan tenure of up to 25 years for Omani customers. With extended loan tenure and the lowest interest rate, Bank Muscat offers the best home loan deals in the Sultanate. Citizens and residents can also benefit from easy and convenient loan approval across the bank's 136 branches in the Sultanate.
baituna home loans are designed to help families to lay the foundation of their dream homes. baituna offers the most convenient home loan plans to suit everyone's needs with simplified documentation, flexible repayment options, insurance coverage and processing across the bank's network of 136 branches. All leading property developers are associated with the bank, hence baituna facilitates access to prime residential projects in Oman.
The residential segment in Oman assumes importance in light of the growth in population as well as the buoyant economy. The deregulation granting property ownership rights to GCC nationals and expatriates has also attracted Oman as an investment destination.
'baituna' home finance facilitates purchase and construction of new homes as well as land for residential use. Finance is offered to Omani nationals, GCC nationals and expatriates. The bank also undertakes refinancing of housing loans.
The objective of Salam Properties is to provide quality homes at affordable prices. Salman Residence is a super deluxe residential-cum-commercial property in Baushar. The target group includes Omanis with high income.