OHB approves RO 4.3m in housing loans for integrated neighbourhoods

MUSCAT, OCT 6

Oman Housing Bank (OHB) is accelerating access to affordable homes through tailored financing and closer collaboration with real estate developers, according to Ammar al Nasri, Manager — Media and Public Relations.

Speaking on the sidelines of the Urban October event, which began in Muscat on October 6, Al Nasri said that OHB had received, through its Housing Applications Financing Initiative, 189 applications with a combined value exceeding RO 10 million. Approved loans reached RO 4.3 million for properties in integrated cities and residential neighbourhoods.

Al Nasri said the bank offers loans of up to RO 80,000 for homes in integrated neighbourhoods with no waiting period, helping beneficiaries secure suitable housing faster and improving the overall efficiency of the housing-finance system.

To widen choice for buyers, Oman Housing Bank has signed cooperation agreements with nine developers, aiming to deliver a broader mix of housing options within fully serviced, master-planned communities. These efforts align with the bank’s partnership with the Ministry of Housing and Urban Planning and support government plans to develop sustainable cities and neighbourhoods that enhance quality of life and social well-being.