Muscat: Over RO 471 million in housing financing has been provided by Oman Housing Bank in the South Al Batinah and Al Buraimi governorates, significantly impacting the region's urban and economic landscape.
According to Oman News Agency, the Oman Housing Bank's financial support in South Al Batinah Governorate alone amounted to over RO 364.4 million by mid-June 2026, benefiting more than 10,000 Omani families across various wilayats. In Al Buraimi Governorate, the bank's branch provided housing finances exceeding RO 106.9 million during the same period.
These substantial investments underscore the bank's commitment to fostering urban development, aligning with Oman Vision 2040's objectives to enhance quality of life and achieve sustainable urban growth. Moosa Masoud Al Jadeedi, CEO of Oman Housing Bank, highlighted the institution's strategic efforts in providing financing solutions that facilitate home ownership and bolster family and social stability.
Al Jadeedi elaborated that the bank has formed strategic partnerships with 11 real estate developers to implement integrated residential neighborhood projects in South Al Batinah, notably the "Al Azm" project in A'Rustaq and the "Al Naseem" project in Barka under the "Surouh" initiative. These efforts are complemented by the "Iskan" platform, which streamlines financing procedures and boosts housing supply.
Since its inception in January 2024, the "Iskan" program has financed 8,731 Omani families with over RO 424 million across Oman, in collaboration with 11 conventional and Islamic banks. This initiative has redefined housing finance processes, enhancing procedural efficiency and reducing waiting periods, contributing significantly to digital transformation goals.
In Al Buraimi, the bank's financing allowed over 2,900 families to own or build private residences, with loan processing times reduced from four years to six months, marking a significant shift in addressing housing needs. This financial support has spurred urban development and strengthened family and community stability in the region.
Al Jadeedi emphasized that the bank's financing activities have revitalized the construction sector, benefiting contracting companies, engineering firms, building material suppliers, and SMEs. He reiterated the bank's focus on providing soft loans to low- and middle-income groups to elevate living standards, in line with Oman Vision 2040's sustainable development goals.
