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Wednesday, November 11 - 2009

First non-national mortgage for Oman

Hamptons International, through HSBC Bank Middle East Limited, Oman, has arranged the first non-national mortgage in the Sultanate.

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  • Lee O'Donoghue Hamptons' Morgage Service Manager.
    Lee O'Donoghue Hamptons' Morgage Service Manager.
This will now give all purchasers on the various Integrated Tourist Complexes the confidence that they can now raise the required finance. Hamptons International set up their mortgage advisory division last year so they can offer independent advice to buyers of property seeking mortgages for all properties within Integrated Tourist Complexes in the Sultanate.

Hamptons International has identified the need for such a service as essential to improving the appeal of the Sultanate's real estate proposition worldwide. With Oman entering an exciting new era, offering freehold ownership to non- GCC Nationals, the impact has been felt across most industries, the banking sector being one. Home Loans are a relatively new concept in the banking sector in Oman and now with the introduction of non-nationals allowed to apply for mortgages the banks have been busy adapting their current products and preparing themselves for international retail clients.

HSBC have probably been the most active bank. Using their international network and experience they can offer mortgages to all nationalities where ever in the world they reside.

Lee O'Donoghue, Manager of Hamptons International Mortgage Division, has over seven years experience within the heavily regulated financial services industry in the UK and says, "It is exciting for both Hamptons International and HSBC to achieve this milestone. With mortgage finance now a reality, properties within Integrated Tourist Complexes will become even more appealing to the international market. By offering independent advice on the various mortgage products available we hope to enhance the experience for property purchasers in obtaining a mortgage in this market".

"The partnership with Hamptons International fully supports us in the implementation of our successful growth strategy in the mortgage business. We look forward to providing non-resident expatriates our customised mortgage service which is designed to cater to their specific needs, by extending affordability and financial convenience. This compliments our already growing mortgage business for both Omanis and resident expatriates," said Richard Groves, Chief Executive Officer.
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Notes and media contacts

History1869-1996
Hamptons had been established since 1869 when, in premises on Pall Mall East shared with the National Gallery, the estate agency arm of Hamptons was launched with eight staff under the direction of George and W. Powell Hampton. A bomb later destroyed the premises during the Blitz in 1940 and the site is now the Sainsbury Wing of the Gallery.

The firm's history really began some 39 years earlier when their father, William Hampton, opened a shop in Cranbourn Street just off Leicester Square for the sale of furniture. In 1890 a fire broke out which almost entirely destroyed the estate office's records. A new estate office had to be provided and the staff was transferred to offices at 1 Cockspur Street. A limited company was formed with George Hampton as Chairman and Managing Director and in 1900, a satellite office was opened on Wimbledon Common.

In 1920, Hampton & Sons, Estate Agents & Auctioneers, moved to 20 St James's Square, London W.1. Hamptons handled a number of notable auctions, including that of the Michelham Collection in 1926, when the record auction price of 74,000 guineas was achieved for Sir T. Lawrence's painting 'Pinkie'. The sale of a number of world famous liners and their contents was conducted by Hamptons, including that of the Mauritania, some of whose fine panelling still adorns the walls of Hamptons St James's and Wimbledon offices. The sale of the Cameroons, a group of islands off West Africa was successfully achieved shortly after the First World War.

In 1936 the Estate Office moved to the former French Embassy building on Arlington Street, St James's and 21 years later the Estate Agency was separated from the parent company when a partnership was formed by the founder's grandson.

The early 1980's saw an expansion of the business under the ownership of British and Commonwealth when a number of local businesses in the South of England were brought under the Hamptons brand name. Included amongst these were Christopher Rowland, Giddy & Giddy, Messenger May Baverstock and Pocock & Lear. In 1991 Hamptons was bought by Bristol & West Building Society.

1996-2005
In February 1996 Hamptons was purchased by Cluttons London Residential Agency (CLRA). CLRA had been formed in 1992 by Robin Paterson after the acquisition of several Barnard Marcus London Offices and an office in Hong Kong. With funding from NatWest Ventures and Marco Polo Developments, a Singapore-based property investment company, CLRA opened new offices in London and Singapore over the next four years.

2005
In April 2005 Wheelock Properties (Singapore) Ltd., formerly known as Marco Polo Developments, made an offer which resulted in its owning the entire issued share capital of Hamptons Group Ltd. David Lawrence, the Chief Executive Officer and Managing Director of Wheelock Properties (Singapore) Ltd Company and a Director of Hamptons, became Executive Chairman of Hamptons Group Ltd following the acquisition.

2006
In August 2006 Emaar Properties www.emaar.com, one of the world's largest real estate companies, acquired Hamptons International. The acquisition formed an important part of Emaar's strategic plan to expand its global operation to include Europe.

Copyright © Hamptons International 2007. All rights reserved.
Estate Agents UK - London Apartments for Sale - Real Estate, Property, Properties, Deluxe Flats
Hamptons Estates Limited
Company Number: 2036215
Registered Office: 32 Grosvenor Square, Mayfair, London W1K 2HJ.

Maurizio Monte
Sales & Marketing Manager Momentum PR
Street 2234
Building 1856
PO BOX 744
P.C. 116
Sultanate of Oman
www.momentumpr.net
tel: +968 24 562354
fax: +968 95 214290

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