The Wave, Muscat and Bank Dhofar sign mortgage agreement

The agreement between Bank Dhofar and The Wave, Muscat's will make residential property ownership more accessible, with maximum flexibility and buying options. Bank Dhofar will provide affordable and convenient home-financing plans for both local and foreign investors at The Wave, Muscat.

On signing the agreement, Abdullah bin Khamis Al Shidi Deputy CEO of The Wave, Muscat commented: "We aim to provide not only a world-class destination for our customers, but also world-class services. Part of the service is ensuring that all our customers have access to finance options, easy solutions and support. This partnership with Bank Dhofar provides a one-stop shop for mortgage financing solutions for our customers and ensures that their vision of a dream home easily becomes a reality."

Within this new partnership, home owners will have the opportunity to make their dreams of owning a property at The Wave, Muscat come true. Bank Dhofar shall offer up to 80% of the value of the property for nationals and 70% for foreign investors. The loan period offered is up to a maximum period of 25 years with the interest rate between 4 - 4.7% per annum.

Faisal bin Hamad Al Wahibi, Assistant General Manger of Retail Banking at Bank Dhofar, said: "We are pleased to be able to provide mortgage financing options for The Wave, Muscat customers through the BankDhofar housing loan programme. With BankDhofar you can own new home in five days, with a low interest rate of 4% for the first three months, a 3 month installment holiday and simple documentation. The housing loan is available for both Omani and Expatriate residents for purchase of freehold property."

The Wave, Muscat also has mortgage agreements in place with Bank Muscat, Oman Arab Bank and Standard Chartered to offer financial support for those interested in investing in the project.