Muscat: Oman Housing Bank has announced that by the end of 2024, it will have disbursed housing loans totaling over OMR 145 million, benefiting 3,250 citizens across various governorates in Oman. This initiative is part of the bank's continuous efforts to bolster the housing sector and facilitate home ownership for its citizens.
According to the bank's financial reports, the highest amount of financing was issued through its main branch in Muscat, totaling OMR 38.3 million for 837 beneficiaries. The Rustaq branch followed closely with OMR 34.58 million for 813 recipients, while the Nizwa branch provided OMR 19.38 million to 423 individuals.
Musa bin Masoud Al-Jididi, CEO of Oman Housing Bank, stated that these financing efforts align with the bank's strategy to improve housing stability for Omani citizens by offering accessible loans with competitive conditions tailored to meet the diverse needs of the population. This initiative supports the objectives of Oman Vision 2040 in the realms of housing and social development.
In a statement to the Oman News Agency, he noted that the loans cater to various categories, including those looking to purchase homes, acquire land for construction, or build new houses, thereby providing recipients with numerous avenues to fulfill their housing aspirations.
He reiterated Oman Housing Bank's dedication to delivering innovative financing solutions that promote urban development in Oman and enhance the quality of life for its citizens, in alignment with national objectives aimed at creating a sustainable and integrated housing environment.
Al-Jididi indicated that the bank is implementing extensive updates to its services and products, with the goal of enhancing and introducing innovative housing solutions. He mentioned that the bank is gearing up for a new phase of growth and development, focusing on modernizing its digital infrastructure and offering integrated electronic services for the efficient and secure management of loans and accounts.
The CEO highlighted that the bank has made significant strides in reducing the approval waiting period by revamping internal processes and expanding specialized teams, cutting the waiting time from four years to under eight months.
He emphasized that Oman Housing Bank remains dedicated to providing accessible financing solutions throughout all governorates of Oman, ensuring that citizens' needs are met nationwide. The bank is committed to distributing financing fairly across its branches to assist Omani families in achieving home ownership.
