ahlibank Signs Agreement with Al Adrak Contracting & Trading to Offer Attractive Mortgage Loans for Hai Al Naseem Housing

Aiming to Provide financial solutions to help clients achieve the goal of owning a decent home that offers peace of mind and ensures their family’s future, ahlibank has announced the signing of a new agreement with Al Adrak Contracting and Trading Company to provide attractive mortgage loans for customers aspiring to buy properties at the exclusive Hai Al Naseem Housing Project in Barka. Described as an ‘Urban Oasis,’ the prime property is a pilot initiative under the government’s ‘The Affordable Housing Project.’

The Memorandum of Understanding was signed by Mr. Muneer Al Balushi, AGM – Head of Retail Distribution, ahlibank, and by Mr. Joseph Thampan – General Manager, Commercial and Mr. Mahmood Masoud Al Ghafri – Director of HR & Administration from Al Adrak Contracting and Trading Company, at a formal ceremony held in the presence of officials from both parties.  

Speaking on the sidelines of the signing ceremony, Mr. Muneer called it a decisive step in its endeavors to collaborate with the government in achieving national development goals. “This significant agreement is a huge affirmation of our commitment to uphold government initiatives and partner with relevant authorities to achieve the objectives of Oman’s Vision 2040, which has social well-being as the main pillar. One of the Vision’s key features is ‘people and society’. Due to this, we have continually emphasized social responsibility programs.

“It is an honor for ahlibank to be associated with a project of this stature. I want to take this opportunity to reaffirm our intent to facilitate a way forward to bridge gaps in realizing the national development agenda. Through Hai Al Naseem, the pilot project – in Barka – under the government’s ‘The Affordable Housing Project’ that was launched in 2017, we will, in cooperation with Adrak Developers, contribute to achieving the financial stability that the Omani citizen aspires, by providing adequate housing units.” he added.

Reiterating similar sentiments, Muzna Sulaiman Al Busaidi – Corporate Communications Manager of Al Adrak Contracting and Trading Company, said, “We are happy to have ahlibank on board to provide an essential financial link to prospective customers. As the contracting arm of the consortium, our focus has been on creating a rare industry blend of turnkey solutions with complete in-house facilities, and this will prove to be a winning formula for ahlibank customers who have the opportunity and the solution on their hands. We have designed and built the housing unit to reflect a modern lifestyle, with facilities on par with global standards. And with Barka being a vibrant beachside city, homeowners are guaranteed safety and contentment at the ‘Urban Oasis’.” 

The agreement aims to fulfill the homeownership goals of the Bank’s customers, by providing a new lease on lifestyle in Hai Al Naseem. ahlibank offers a mortgage loan – at attractive interest rates starting at 4.5% per annum – before issuing the property to provide various housing alternatives to eligible citizens of residential lands. It will also mark a new phase in ahlibank’s inspiring growth trajectory, as it demonstrates its flexibility in crafting financial solutions to fit the needs and aspirations of its varied clientele while partnering with the government in its development projects.