01-03-2025
OHB to provide over RO 145 million in housing loans
MUSCAT: Oman Housing Bank (OHB) has announced plans to finance housing loans worth over RO 145 million by the end of 2025, benefiting 3,250 citizens across various governorates. This initiative aligns with the bank's ongoing efforts to support the housing sector and enable Omanis to own homes. The highest financing was allocated through the bank's main branch in Muscat, amounting to RO 38.3 million for 837 beneficiaries, followed by the Rustaq branch with RO 34.58 million for 813 beneficiaries, and the Nizwa branch with RO 19.38 million for 423 beneficiaries.
Mousa bin Masoud al Jadidi, CEO of Oman Housing Bank, emphasized that these financings reflect the bank's strategy to enhance housing stability by providing soft loans with competitive terms, contributing to Oman Vision 2040's housing and social development goals. The loans cover a range of needs, including home purchases, land acquisition for construction, and direct home-building, offering flexible options for beneficiaries.
Al Jadidi reaffirmed the bank's commitment to delivering innovative financing solutions that support urban development and improve the quality of life for citizens. To enhance efficiency, the bank is implementing comprehensive updates to its services, including a new digital system that will provide integrated electronic services for loan and account management. He highlighted that Oman Housing Bank has significantly reduced waiting times for loan approvals by restructuring internal mechanisms and expanding specialized teams, cutting the waiting period from four years to just eight months.
He also noted that the bank remains dedicated to providing accessible financing solutions across all governorates, ensuring a balanced distribution of funds to support Omani families in securing suitable housing. Looking ahead, Oman Housing Bank plans to enter a new phase of development and expansion, reinforcing its role in creating a sustainable and integrated housing environment in the Sultanate of Omsn.
