Oman Housing Bank announced it provided housing loans totaling more than OMR 145 million by the end of 2024. These loans benefitted 3,250 citizens from various governorates across Oman. The initiative is part of the bank’s ongoing efforts to support the housing sector and help citizens own their homes.
According to the bank’s financial data, the highest financing came from the main branch in Muscat. This branch provided OMR 38.3 million, benefiting 837 recipients. The Rustaq branch followed with OMR 34.58 million for 813 recipients. Additionally, the Nizwa branch contributed OMR 19.38 million, assisting 423 recipients.
Musa bin Masoud Al-Jididi, CEO of Oman Housing Bank, highlighted that these loans are part of the bank’s strategy to improve housing stability for Omani citizens. He emphasized the bank’s aim to offer easy loans with competitive terms that cater to various segments of the population. This effort aligns with Oman Vision 2040, focusing on housing and social development.
In a statement to the Oman News Agency, Al-Jididi shared that the loans cover several categories. These include individuals wishing to buy homes, purchase land to build on, or construct houses. The bank’s diverse offerings provide multiple opportunities for citizens to achieve their housing goals.
He also reiterated Oman Housing Bank’s commitment to continuing to provide innovative financing solutions. These solutions support urban development and improve citizens’ quality of life, in line with national goals for a sustainable housing environment.
The CEO revealed that the bank is undergoing significant updates to its services and products. These updates aim to enhance and deliver innovative housing solutions. The bank is also preparing for a new phase of development, working on upgrading its digital system and offering integrated electronic services to manage loans and accounts securely and efficiently.
Furthermore, Al-Jididi noted that the bank has reduced its approval waiting time significantly. By restructuring internal mechanisms and expanding specialized teams, the waiting time dropped from four years to less than eight months.
In conclusion, Oman Housing Bank remains dedicated to providing easy financing solutions across all governorates. The bank ensures equitable distribution of financing to meet citizens’ housing needs and continues to support families in owning suitable homes.
