Oman - Ahlibank signs an agreement with Muriya to provide mortgage loans

MUSCAT- Ahlibank has announced the signing of a cooperation agreement with Muriya. The MoU aims at providing financial solutions to customers wishing to own a property in the company’s Integrated Tourism Complexes (ITCs), - Jebel Sifah or Hawana Salalah.

The agreement comes as a strategic step in the bank’s long-term roadmap to continue providing evolved and innovative banking solutions for Oman’s progressive customer base.

The agreement was signed by Muneer Al Balushi, AGM - Head of Retail Distribution at ahlibank and Mohamed Abdelaziz, Chief Financial Officer at Muriya. The event was held at ahlibank’s main office, in the presence of select officials from both sides.

On the sidelines of the signing ceremony, Muneer said, “The signing of this memorandum is part of our strategy focused on serving our customers as top priority. We are constantly seeking to create banking solutions that keep pace with our customers' evolving lifestyle and help achieve their ambitions, by granting them financial support in record time and at competitive prices. Strategic and futuristic collaborations like the one with Muriya enhance the ability of our customers to own personal property and secure a better future but also supports national growth by giving impetus to the real estate sector."

Under the agreement, ahlibank will provide a mortgage loan before issuing the property, at attractive interest rates starting at 4.5 per cent annum. Additionally, the Bank’s premium Al Nukhba account holders will enjoy quick services in availing the loan facility, by having direct access to the bank's sales team as well as Muriya representatives over the phone, which helps in reducing effort and time, ensuring speedy transactions.

Mohamed said, "We strongly believe the agreement attracts more satisfied homeowners to Muriya’s destinations, Jebel Sifah and Hawana Salalah and its real estate projects. Both destinations provide a unique, modern living experience, characterised by their contemporary design and advanced service facilities, as well as their strategic locations The agreement will facilitate customers in applying for a mortgage loan from ahlibank and give them a lifetime opportunity to own a property in Jebel Sifah or Hawana Salalah.”

Jebel Sifah, located 40 minutes from Muscat, is spread over 6.2 million sqm and is designed to include world-class hotels, of which the 67-room Sifawy Boutique Hotel is operational. It also houses freehold residences, which are available to own or rent, an 84-berth marina, and a wide range of dining and leisure facilities, as well as the 9-hole PGA Harradine signature golf course.

Muriya’s flagship destination Hawana Salalah is located in the tropical city of Salalah in the Governorate of Dhofar southeast of Oman, with an area of 13.6 million sqm and will house a total of seven hotels, of which the Fanar Hotel & Residences, Salalah Rotana Resort, Juweira Boutique Hotel and Souly Lodge are operational. The destination is home to Oman’s first aqua park, a 170-berth marina, freehold residences, and retail venues, restaurants and cafes.

ahlibank looks forward to taking advantage of the opportunities in Oman’s expanding real estate market, and its agreement with Muriya reflects its keenness to offer options that ensure comfort to its customers and facilitate their access to high quality products and services.