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Oman Arab Bank offers mortgage financing for Zahrat Al Kahreef – Dhofar purchasers

Oman: Tuesday, April 05 - 2011 @ 10:22

The agreement has been signed between Mr. Mohammed Abdul Moneim, Chairman of Iskan Oman 1 LLC, and Mr. Rashad Jaffar Al-Shaikh, Head of Retail Marketing & Business Development of Oman Arab Bank.

On this occasion, Mr. Abdul Moneim of Iskan Oman said, “We are delighted to partner with Oman Arab Bank to provide home financing to Zahrat Al Khareef-Dhofar customers. Our Zahrat Al Khareef project is built, designed, and intended for diverse audiences. Today’s announcement is another important step in the continuing revitalization of Oman’s real estate market.”

He added, “We aim to offer purchasers of our Zahrat Al Khareef, a prospective plan that ensures potential customers with financing options that suit their individual needs.”

Zahrat Al Khareef – Dhofar project, offering freehold ownership for Omani and GCC citizens, is the first of its kind and the largest in Salalah. Located in the Al-Wadi area, the project covers an area approximately 29,000 sq. m. 10 storey buildings containing 586 units, with a total built-up area exceeding 100,000 square meters will offer a mix of 1, 2 & 3 Bedrooms and Duplex apartments.

Oman Arab Bank was established on 1st October 1984, following the acquisition of Arab Bank’s branches in the country. It operates through a network of 56 branches and offices throughout the Sultanate. The bank offers a wide range of products and services in Retail, Corporate and Investment Banking.

“Oman Arab Bank continues to deliver products and services that cater to the financial needs of customers. This partnership aims at meeting the strong demand for home finance from customers in Oman and other GCC countries,” said Mr. Rashad Al-Shaikh of Oman Arab Bank. “As a Bank we are fully committed to supporting the economic development of the Country, and this agreement will help to further stimulate the country’s real estate market.”

The Zahrat Al Khareef – Dhofar project promises to promote wholesome community living offering the convenience of proximity to amenities and services as well as incorporating recreation and leisure spaces with a family friendly focus.

The Zahrat Al Khareef – Dhofar development promises to further enhance the profile of Dhofar region; blending modern living with the natural environment that reflects the very essence of Salalah. Lush green trees, gentle breezes from the mountains and white sandy beaches caress the fringes of Zahrat Al Khareef, Dhofar.

In addition, a family friendly club house equipped with a modern gymnasium and other recreational facilities will serve as a fitness and community center for residents, bringing together the occupants to socialize and relax in world class luxury. Additional facilities such as a swimming pool with professionally designed landscaping, further compliment the recreational offerings of the Zahrat Al Khareef development.

In a commercial hub to serve the community, incorporating shops and other retail outlets have also been thoughtfully included in the project design. Parking for residents and visitors is ample, with a basement level car park accommodating parking requirements with more than 600 car parking spaces provided.

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Tuesday, April 5- 2011 @ 10:22 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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