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- Muscat, June 2011 - Muriya and HSBC signed mortgage financing agreements for Jebel Sifah and Salalah Beach projects, respectively, at a ceremony held at the Muriya headquarters on Monday, May 30 2011.
- Michael Daniel, Corporate Treasury Manager of Muriya and John E Stubbs, Head of Personal Financial Services, HSBC, signed the agreement. Also present on the occasion were Adil Taqi, CEO and Bahaa Hefzallah, Director of Marketing, Muriya, and Prabjhit Singh, Head of Propositions – Assets & Liabilities, HSBC.
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- HSBC offers a maximum loan amount of RO 960,000, covering upto 80% of the value of the property for a maximum 25-year term. The age limit is 65 years at the time of maturity of the loan and the interest rate at 5.99% on the basis of reducing balance, making this an attractive proposition. This loan facility can be availed by Omani nationals, expatriate residents and non residents. Speaking at the signing ceremony, Michael Daniel said, "Although the mortgage is offered only for completed properties, with this agreement our prospective customers can avail mortgage loans if they have an existing banking relationship with HSBC anywhere in the world. This facility secures a sense of security for our potential customers and demonstrates our determination to provide easy financial solutions to our customers – both Omanis and expatriates." Explaining further about the loans, John E Stubbs stated that mortgage loans will be offered on the basis of credit criteria set by HSBC Oman. "These will be considered on case to case basis. Our comprehensive financing solutions will provide interested customers with the opportunity to become Muriya's property owners with complete ease," he said. "We offer the most competitive mortgage rates in Oman starting at 5.99% with attractive protection and building insurance packages. Our wide arrays of solutions have been specifically designed to fit any mortgage financing need and every lifestyle."
- The signing ceremony reflects Muriya's intent to support their customers in every possible way. Muriya was established in 2006 when Egypt's Orascom Hotels and Development (with 70 per cent stake) and Omani government owned Omran (with 30 per cent stake) came together in a joint venture. Since then, Muriya has announced four ambitious projects across the beautiful locales of Oman. Two of the ongoing projects are integrated tourism complexes (ITCs) offering freehold properties – 'Jebel Sifah' and 'Salalah Beach'. In addition, Muriya also has extensive plans to develop a 'City walk' in Muscat and work is ongoing on the boutique hotel on 'As Sodah Island'. Further details about the company and projects: www.muriya.om
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