MUSCAT, 12 September 2017 – Bank Muscat, the flagship financial services provider in the Sultanate, and Imdad Real Estate Development Company signed a memorandum of understanding (MoU) to provide attractive baituna home finance for exclusive residential units in the Boulevard Tower project in Muscat Hills. Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales & Products Development, and Sheikh Abdullah Al Khalili, Director of Imdad Real Estate Development Company, signed the MoU at the bank's head office to facilitate mortgage finance for Oman's premier real estate project.
Abdullah Tamman Al Mashani said: “Bank Muscat is proud to be associated with the Boulevard Tower project and facilitate attractive baituna finance for prospective Omani and expatriate home buyers. 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 Omani youth. baituna finance is aimed at offering citizens and residents easy access to mortgage finance and thereby enhance the role of the real estate sector in the national economy."
Sheikh Abdullah Al Khalili said: “Imdad Real Estate Development Company is delighted to join hands with Bank Muscat to provide attractive home deals for citizens and residents in the Boulevard Tower. The association between the two institutions will give a boost to tourism and the real estate sector, benefiting citizens and residents to fulfill their dream homes and offering an exciting lifestyle destination in Oman. As one of Oman's most important strategic real estate project, the Boulevard Tower comprises 165 exclusive residential units alongside unique facilities to relax and escape from the daily pressures of life."
The attractive features of baituna home finance include low interest rates with maximum loan tenure up to 25 years for Omani customers. With extended loan tenure and low interest rates, 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 network of branches in the Sultanate.
An integrated residential and commercial community located just minutes from Muscat International Airport, the Boulevard Tower is unique because of its close proximity to golf course, dining and retail outlets. Muscat Hills and its pioneering master planned development, The Boulevard combines luxury homes and world-class facilities to create an ideal haven for individuals, couples and families alike. The Boulevard Tower is being developed in a strategic position in this location to provide those with the desire to live in the comfort of a diverse and relaxed setting but also within a vibrant community that is set to be the new social hub of Muscat. Freehold ownership and residency rights are available for all nationalities in the Boulevard Tower with an unequaled lifestyle opportunity presenting itself with shops, restaurants and recreation facilities at the doorstep.
Designed to help families fulfill their dream homes, baituna home finance has been designed with homebuyers in mind. Convenient mortgage plans suit everyone's needs, with simplified documentation, flexible repayment options, insurance coverage and processing across the bank's extensive network of branches. Bank Muscat mortgage finance is available for purchase and construction of new homes as well as land for residential use. baituna finance is offered to Omani nationals, GCC nationals and resident expatriates.