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Bank Muscat ‘Baituna Souq’ offering best home deals evokes strong response

MUSCAT, 22 January 2019 – Bank Muscat, the flagship financial services provider in the Sultanate, in line with its vision 'To serve you better, everyday' and commitment to partnership in facilitating a 'home for every family' opened a 3-day 'Baituna Souq' offering the best home deals from prime real estate developers on Tuesday (22 January) at Muscat City Centre under the auspices Eng. Siham Ahmed Al Harthy, Director General of Planning and Studies at the Ministry of Housing. The event was attended by Sulaiman Al Harthy, Group Chief Personal Banking Officer, Management Team members of the bank and key representatives of leading property developers.

Attractive interest rates, quick and convenient approval process, specialised mortgage advisory and loan facilitation across the largest network of branches and dedicated sales centers across the country are the main attractions of the exhibition showcasing prime residential and commercial properties in Oman. The exhibition is open from 10 am to 9 pm and the 3-day event ends on Thursday 24 January.

Bringing together prospective home buyers, leading property and real estate developers, 'Baituna Souq' is a unique opportunity aimed at offering citizens and residents an array of attractive home options. The participating companies include Telal Al Qurm, Zain Property Development, Muscat Hills Resort, National Mass Housing, Omani Home, Muscat Bay, Wujha, Ajyal Homes, Al Argan Towell and Tibiaan Properties. Representatives of the participating companies will be present for one-to-one meetings with potential home buyers, thereby opening a channel of contact with interested customers. All participating real estate and property developers have long association with Bank Muscat's Baituna home finance.

Eng. Siham Ahmed Al Harthy commended the bank for organising the Baituna Souq, offering a unique opportunity for citizens and resident to meet leading real estate developers under one roof. The big response to the event reflects the demand for attractive value deals by property developers. In line with the Sultanate's development across all regions, the real estate sector is witnessing growth momentum, she said, adding that the bank's role in facilitating attractive home finance would go a long way in fulfilling the aspirations of citizens and residents to own their dream homes.

Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales & Product Development, said: “Bank Muscat in association with leading real estate developers is proud to once again facilitate attractive home deals. The real estate sector is a major component of the national economy and Bank Muscat is committed to extending all 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 strengthening the role of the real estate sector in the national economy."

Mahmoud Bin Abdul Razaq Al Lawati, CEO of Omani Home, said the company was a regular participant in Baituna Souq which served as a vital link between property developers and prospective home buyers. The event facilitates a unique opportunity for interested home buyers to evaluate all attractive real estate projects in the market as well as benefits and services offered by the companies, he added. The Omani Home is specialised in residential projects targeted at middle income Omani youth. In this segment, the ongoing projects include Nakheel in Al Manoumah area consisting of 90 units at competitive prices, Al Lawati said.

Designed to help families fulfill their dream homes, Baituna home finance offers convenient mortgage plans to suit everyone's needs with simplified documentation, flexible repayment options and attractive insurance coverage. The attractive features of Baituna, the preferred home finance in Oman, include competitive interest rates with maximum loan tenure up to 25 years for Omani customers. With extended loan tenure and low interest rate, Bank Muscat facilitates the best home finance deals in the Sultanate.

Tailor-made 'Baituna' home finance facilitates purchase and construction of new homes as well as land for residential use. Baituna finance is available for Omanis, GCC nationals and expatriates. The property ownership rights granted to GCC and non-GCC nationals has attracted Oman as an investment destination. ​

During the past 37 years since its inception in 1982, Bank Muscat has been closely associated with the progressive march of the nation. Bank Muscat offers the complete range of innovative banking products and services benefiting the largest banking family in Oman. A keen perception of customer requirements enables the bank to develop innovative products and services in line with the current and emerging needs, reinforcing its position as the bank of first choice in Oman.