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Tasmim signs MoU with Bank Muscat to offer easy Baituna Home Loans to its customers

MUSCAT, 7 January 2020 

Leading real estate services firm Tasmim Real Estate Services has signed a Memorandum of Understanding (MoU) with Bank Muscat to offer the bank’s Baituna home loans to customers of their Habitat real estate project. The MoU was signed at Bank Muscat’s Head Office by Zakaria Said Al Shanfari, Managing Director, Tasmim Real Estate Services, and Abdullah Tamman Al Maashani, DGM - Institutional Sales and Product Development, Bank Muscat.

All Omani and GCC customers purchasing property at Habitat can now avail of home loans from Bank Muscat after making a down payment of only 20%, with the bank offering financing for the remaining 80%. The Baituna offer is available with a low interest rate and a maximum loan tenure of up to 25 years. Customers can apply for a loan up to RO 500,000 at any Bank Muscat branch or Baituna Sales Centre.

Zakaria Said Al Shanfari, Managing Director, Tasmim Real Estate Services, said, “We are excited to sign this agreement with Bank Muscat to provide banking and financial solutions for our customers. This is a great scheme for customers to invest in their dream homes. Customers can avail of the Baituna loan to cover their purchase and repay their loans in a convenient manner. We are sure that our customers will benefit immensely from this offering.”

Abdullah Tamman Al Mashani, DGM - Institutional Sales and Product Development, Bank Muscat said: “Bank Muscat is proud to be associated with the Habitat project to facilitate attractive Baituna finance for home buyers. Bank Muscat is committed to extending all possible support to achieve the objective of a ‘home for every family’, especially Omani youth. The real estate sector is a major component of the National Economy and Baituna finance is aimed at offering citizens easy access to attractive mortgage finance.”

‘Habitat’ by Tasmim, is an upcoming mixed-use development project in the Al Khuwair area spanning over 75,000 sq.m. It is one of largest developments in the Sultanate and is being designed by Austrian architects Mandressi GmbH. The project will consist of residential units, offices and retail units with an open-rooftop restaurant. With over 200 uniquely designed units, this project will enjoy the position of being one of the Sultanate’s high-end real estate projects.

In step with the bank’s vision ‘To serve you better, everyday’, Baituna home finance offers the most convenient mortgage plans to suit everyone’s needs with simplified documentation, flexible repayment options, insurance coverage and processing across the bank’s extensive network of branches and dedicated Baituna centres.