(MENAFN- Muscat Daily) Oman Arab Bank (OAB) signed an agreement with Zain Property Development LLC for financing Dar al Zain, Phase 4, and Al Zain projects through Al Dar housing loan.
The agreement was signed at the OAB New Head Office located in North Ghubra on January 6 by Rashad Jaffar al Shaikh, assistant general manager - retail banking at OAB, and Mish'al Mohammed Abdullah, managing director, Zain Property Development, in the presence of a number of the bank officials. Zain Property Development LLC aims at developing a variety of high quality properties. Each of the two proposed projects are uniquely located - the first one lies in the heart of wilayat of Bausher while the second one is located in Seeb.
The projects are designed and constructed to meet the requirements of the economic growth witnessed by both the public and private sectors in the sultanate. Dar al Zain is the first development from Zain Property Development LLC. It has been conveniently constructed and situated in Seeb – Sur al Hadid covering about a 75,000sq m site. Construction of Phase 1 started in 2008 and 123 villas were delivered during Phases 1, 2 and 3 in 2013. Works will be completed according to the completion schedule of the current Phase 4 and the upcoming Phases 5 and 6 in 2015.
Dar al Zain boasts an advance security system, addition to a maintenance team available round-theclock and features a fitness center, swimming pools, a football pitch, childcare centre, a mosque, and a multi-purpose hall with a movie screen. The second project, Al Zain, is situated in Azaiba, wilayat of Bausher, near Muscat International Airport. It consists of 48 apartments in addition to an area allocated for commercial space. Each apartment was especially designed to accommodate a life style living, uniquely designed balconies, and a modern open kitchen plans.
To insure the highest level of security and privacy for the occupants, the project boasts a 24- hour security system in addition to a gym and a swimming pool at the roof top. OAB is well known for providing a wide variety of retail and corporate services such as personal loans, Markabati Plus auto loan and Al Dar housing loan.
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