MUSCAT, 24 January 2018
Bank Muscat, the flagship financial services provider in the Sultanate, and Arabian Properties company signed a memorandum of understanding (MoU) to provide attractive baituna home finance for exclusive residential units in Al Shams project located in Baushar hills. Abdullah Tamman Al Mashani, Deputy General Manager – Institutional Sales & Products Development, and Ahmed Haider Ahmed, Chief Executive Officer of Arabian Properties, signed the MoU at the bank's head office to facilitate mortgage finance for the upcoming project.
Abdullah Tamman Al Mashani said: “Bank Muscat is proud to be associated with Al Shams project and facilitate attractive baituna finance for prospective Omani 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."
Ahmed Haider Ahmed said: “Arabian Properties company is delighted to join hands with Bank Muscat to provide attractive home deals for citizens in Al Shams project. The association between the two institutions will give a boost to the real estate sector, fulfilling the dream home aspirations of citizens and offering an exciting lifestyle destination in Oman."
Al Shams is located in the heart of Muscat in Baushar hills. With quiet residential neighborhood, connectivity and easy access to the main highway and Muscat Expressway, the project has close proximity to schools, colleges, hospitals and malls. The prime project comprises 81 residential units, including 72 apartments spread out on six floors and 7 penthouse units.
In step with the bank's 'Let's Do More' vision, baituna home finance offers the most convenient mortgage plans to suit everyone's needs with simplified documentation and flexible repayment options. The popular home finance facilitates access to prime residential projects in Oman as all leading property developers are associated with the bank.
The attractive features of baituna finance include low interest rates with maximum loan tenure up to 25 years for Omani customers. The low interest rate is a big attraction to avail the best home finance deals in the Sultanate. Citizens and residents can obtain easy and convenient credit approval across the bank's branches and dedicated baituna centres in the Sultanate.
baituna home finance stands out with simplified documentation, flexible repayment options, insurance coverage and processing across the bank's extensive network of branches and dedicated centres. Omani and GCC nationals can avail baituna finance for purchase and construction of new homes as well as land for residential use while expatriate customers can avail finance for properties in integrated tourism complex. The bank also undertakes refinancing of home finance.