Saraya Bandar Al Jissah Company – Omani developer of the latest tourism projects in Oman – has signed an agreement to create a joint financing project which is the biggest of its kind in the real estate sector with each of Bank Muscat and Bank Dhofar. The estimated value of the funding is about US $ 275 million.
Saraya Bandar will get the full funding for the first phase of the project which consists of two five-star hotels operated by Jumeirah International Group in addition to three residential areas which are “Zahaa, Nameer Island, Wajd” and an integrated entertainment center. It is expected that the opening of the project will be by 2017.
The signing ceremony was held at the site of Saraya Bandar Al Jissah at Al Jissah beach where Hakim Ajili, Acting Chief Executive of Bank Dhofar, expressed his delight with this agreement as the bank will contribute in the financing of an important and valuable project to the real estate and tourism sectors.
On the other hand, residential units in Nameer Island has been put for sale where they saw an unprecedented influx. Namer units consists of villas with three or four bedrooms with the most wonderful panoramic views of the lake and Al Hajar Mountains.
While Nameer Island units consist of villas with three or four-bedroom, duplex apartments in addition to other units that consist of two bedrooms.
The entire project includes 398 housing units and luxury villas as well as rural houses and luxury apartments, all of which overlook high mountains and amazing water interfaces.