Pacts signed with banks for financing purchase of housing units

Muscat: The Ministry of Housing and Urban Planning today signed cooperation agreements with a number of local banks to facilitate the funding applicants who are eligible for residential land plots and housing units within “Sorouh” integrated residential projects.

The agreements were signed by Eng. Hamad Ali Al Nizwani, Undersecretary of the Ministry of Housing and Urban Planning for Housing, and representatives of Bank Dhofar, Bank Nizwa, Sohar Islamic Bank and Muzn Islamic Banking.

Eng. Masoud Said Al Hashemi, Director General of Real Estate Development at the Ministry of Housing and Urban Planning, said that the signing of the agreements comes within the context of the "Sorouh" Integrated Residential Units Initiative, which is one of the ministry’s programmes to provide suitable housing for family stability.

Surouh seeks to offer alternatives and housing solutions, support and enhance the role of the private sector in the real estate field.