Bank Muscat, Saraya Oman join hands to promote Muscat Bay project

MUSCAT: Bank Muscat, the flagship financial services provider in the Sultanate, and Muscat Bay signed a memorandum of understanding (MoU) to provide attractive baituna home finance for the project’s exclusive residential units in Qantab.

Abdullah Tamman Al Mashani, deputy general manager – Institutional Sales & Products Development, said: “Bank Muscat is proud to be associated with the Muscat Bay project and facilitate attractive baituna finance for prospective Omani and expatriate 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 youth. baituna home finance is aimed at offering citizens and residents easy access to mortgage finance, thereby enhancing the role of the real estate sector in the national economy.”

Sheikh Hamood Sultan Al Hosni, chief executive officer of Muscat Bay, said: “Muscat Bay is delighted to join hands with Bank Muscat to provide attractive home deals for citizens and residents. The association between the two institutions will give a boost to the real estate sector, benefit citizens to fulfil their dream homes and offer a new way of living in Oman. As one of Oman’s most important strategic real estate project, Muscat Bay is scheduled to complete its first phase this year and comprises 260 exclusive residential units alongside five-star Jumeirah Resort Hotel and community services to provide a regionally unique enclave where Omani residents can relax and escape from the daily pressures of life.”

The attractive features of baituna home finance include low interest rates with maximum loan tenure up to 25 years for Omani customers. With extended loan tenure and low interest rates, Bank Muscat facilitates the best home finance deals in the Sultanate. Citizens and residents can avail easy and convenient credit approval across the bank’s network of branches in the Sultanate.

The new association between Bank Muscat and Muscat Bay facilitates access to prime residential projects in Oman.