Saturday 01 / March / 2025
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.
