Latest news with #OmanHousingBank
Observer
01-03-2025
- Business
- Observer
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.
Times of Oman
01-03-2025
- Business
- Times of Oman
Oman Housing Bank provides housing loans exceeding OMR 145 Million
Muscat: Oman Housing Bank announced that it had provided housing loans with a total value exceeding OMR 145 million by the end of 2024, benefiting 3,250 citizens from various governorates of Oman as part of its ongoing efforts to support the housing sector and enable citizens to own their homes. The bank's financial data showed that the highest financing was provided through the main branch in Muscat, amounting to OMR 38.3 million, benefiting 837 recipients. This was followed by the Rustaq branch with OMR 34.58 million for 813 recipients, and the Nizwa branch, which provided OMR 19.38 million for 423 recipients. Musa bin Masoud Al-Jididi, CEO of Oman Housing Bank, affirmed that these financings are part of the bank's strategy aimed at enhancing the housing stability of Omani citizens by offering easy loans with competitive terms that meet the needs of various segments, contributing to the realization of Oman Vision 2040 in the housing and social development sectors. In a statement to the Oman News Agency, he added that these loans cover different categories, including those wishing to buy homes, purchase land and build on it, or construct a house, providing recipients with multiple opportunities to achieve their housing goals. He emphasized Oman Housing Bank's commitment to continuing to provide innovative financing solutions that support urban development in Oman and enhance the quality of life for citizens in line with national goals aimed at providing a sustainable and integrated housing environment. Al-Jididi explained that the bank is undergoing comprehensive updates to its services and products, aiming to enhance and offer innovative housing solutions. He noted that the bank is preparing to enter a new phase of development and expansion, working on updating its digital system and providing integrated electronic services to manage loans and accounts easily and securely. The CEO stated that the bank had significantly reduced the waiting period by restructuring internal approval mechanisms and expanding specialized work teams, reducing the waiting time from 4 years to less than 8 months. He noted that Oman Housing Bank continues to provide easy financing solutions across all governorates of Oman, ensuring comprehensive coverage of citizens' needs nationwide. The bank is committed to distributing financing equitably across its branches to support Omani families in owning suitable housing.
