Muscat: Bank Muscat, a leading financial services provider in the Sultanate, and Arabian Properties Company have signed a memorandum of understanding (MoU) offering attractive baituna home finance for exclusive residential units in the Al Shams project in Baushar Hills.
Abdullah Tamman Al Mashani, deputy general manager, institutional sales and product development, and Ahmed Haider Ahmed, chief executive officer of Arabian Properties, signed the MoU to facilitate mortgage financing for the upcoming project.
“Bank Muscat is proud to be associated with the Al Shams project and to 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 for Omani youth,” Al Mashani said.
“Baituna finance offers citizens and residents easy access to mortgage financing, thereby enhancing the role of the real estate sector in the national economy,” he added.
“Arabian Properties Company is delighted to join hands with Bank Muscat to provide attractive home deals for citizens in the 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,” Haider Ahmed noted.
Al Shams is located in the heart of Muscat in Baushar Hills. A quiet residential neighbourhood, with easy connectivity and access to the main highway and Muscat Expressway, the project is located close to schools, colleges, hospitals and malls. The prime project comprises 81 residential units, including 72 apartments spread out on six floors and seven 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 easy documentation and flexible repayment options. The popular home finance option 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 a maximum loan tenure up to 25 years for Omani customers. The low interest rate is a major attraction for people looking for 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.
Along with simple documentation and a flexible payment option, baituna also offers insurance coverage and processing across the bank’s extensive network of branches and dedicated centres. Omani and GCC nationals can avail baituna finance for the purchase and construction of new homes, as well as land for residential use, while expatriate customers can avail of financing for properties in integrated tourism complexes. The bank also offers home refinancing options.