Muscat, 9 November 2020
The Ministry of Housing and Urban Planning and Bank Muscat, the leading financial institution in the Sultanate, have announced the official opening of a Real Estate Registry office inside the Bank Muscat Head Office at Airport Heights. The new office provides a number of documentation services for activities such as buying and selling real estate, mortgages, land received as gifts, partition, inheritance and other real estate transactions. The Ministry’s one-stop centre on the premises of the Bank’s Head Office has already commenced operations and is in line with the Ministry’s vision of facilitating ease of real estate transactions by opening more real estate registry offices across the sultanate. The Bank Muscat Head Office was chosen on the basis of the existing strong partnership between both institutions, its strategic location and the large number of visitors to the premises. The office will be open on all workdays from 8.30 am to 2 pm.
On this occasion, Saleem Bin Hassan Al Balushi, Assistant Director General, Real Estate Development, Ministry of Housing and Urban Planning, said: “The new office at the Bank Muscat's Head Office will help citizens complete real-estate transactions and is in line with the Public-Private partnership. It will directly provide real-estate related services and there is no need to go to the Ministry.” He added that the Ministry’s approach in opening new real estate registry offices is part of the plan to increase convenience in a innovative manner and meet the needs of both customers and institutions like Bank Muscat, which is one of the leading banks in providing mortgage and home finance related services among others.
On his part, Salim Mohammed Al Kaabi, General Manager – Credit, Bank Muscat, expressed his happiness with this partnership between the bank and the Ministry of Housing and Urban Planning. He noted that the opening of the new Registry office by the Ministry is an important step in further strengthening public-private partnership and said that the new office would add further convenience to the bank’s customers as well as the general public. He thanked His Excellency the Minister and the staff at the Ministry of Housing and Urban Planning for their confidence in the bank’s pioneering role in introducing new financial services and enhancing the ease of banking and transactions including housing finance.
Bank Muscat’s tailor-made ‘Baituna’ home finance facilitates purchase and construction of new homes as well as land for residential use. The attractive features of Baituna finance include low interest rates with a maximum loan tenure up to 25 years for customers. The competitive interest rate is particularly attractive for people looking for the best home finance deals in the Sultanate. Customers can obtain easy and convenient credit approval across the Sultanate at any of the dedicated Baituna Sales Centres at Qurm, Ma'abela, Nizwa, Salalah, Barka, Sur, Saham, Sohar, Ibri, Buraimi and Ibra or at the bank’s retail banking branches. The residential segment assumes importance in light of the growth in population as well as the fact that real estate is a major building block of economic growth. With Oman now also becoming an attractive real-estate investment destination, Baituna offers some of the best home financing options in the Sultanate.