The National Bank of Oman (NBO) has signed two significant Memoranda of Understanding (MOUs) with Zain Property Development and Adrak Developers, to enhance homeownership opportunities.
The MoUs will allow NBO customers to secure homeownership financing for the prestigious Husn Alzain Project, developed by Zain Property Development, and the Hai Al Naseem Project, by Adrak Developers.
The agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mish’al Mohamed Al Raisi, Managing Director of Zain Property Development, and Dr. Aadil Thomas Alexander, Executive Director of Adrak Developers.
The crucial collaboration facilitates homeownership opportunities for Omanis while highlighting NBO’s continued dedication to supporting national development projects.
Faisal Al Wahaibi GM & Chief Retail and Digital Banking Officer , NBO
“Our partnership with Zain Property Development and Adrak Developers provides NBO customers with unique opportunities to finance their dream homes and providing them with adequate means to invest in high-quality, modern living spaces that meet their aspirations. Moreover, we are proud to provide tailored and competitive financing solutions that simplify the journey to homeownership for Omani individuals.”
The agreements form a crucial part of the broader Sorouh initiative, a Public-Private Partnership (PPP) between the developers and the Ministry of Housing and Urban Planning. This initiative focuses on creating integrated developments that combine comfort and affordability, aligning with national housing policies.
By providing eligible citizens with high-quality housing options tailored to their needs, Sorouh also helps alleviate the growing demand for residential land across Oman.
The Husn Alzain Project aims to create sustainable, mixed-use communities that empower families and secure their futures. Similarly, the Hai Al Naseem Project by Adrak Developers underscores the dedication to deliver high-quality, cost-effective housing solutions.
With a focus on sustainability and excellence, these projects represent a collaborative effort to make homeownership accessible for Omani citizens. Through NBO’s tailored financing solutions, these developments support the broader national vision for housing and community development, contributing to Oman’s goals of fostering vibrant and inclusive communities.
