MUSCAT: Al Khonji Real Estate & Development (AQAR) , the leading property developer in the Sultanate, celebrated the launch of its high-end integrated residential complex (Rimal 2), located in Bausher, as an extension of ( Rimal 1), which also developed by AQAR , while its units were sold within two weeks of its launch.
The celebration ceremony also included signing of a memorandum of cooperation with Bank Nizwa to finance the bank's customers who are interesting to own a residential housing units in Rimal 2 project.
The Memorandum of cooperation inked by Mohammed bin Abdullah al Khonji , Chairman and CEO of AQAR , on behalf of Al Khonji Real Estate & Development, and Arif al Zaabi, AGM Retail Banking at Bank Nizwa , on behalf of the Bank .
Arif al Zaabi expressed his pleasure by the bilateral cooperation between Bank Nizwa and AQAR , to provide innovative and Shariah-compliant real estate financing solutions. He stated that : “ We have designed our real estate financing solutions to meet the different requirements of our growing customer base, while we are confident that, the new profitability rate is an exemplary rate for the retail customers who are interesting in utilizing the Shariah-compliant real estate financing solutions easily and flexibly”.
In his speech at the press conference held on the occasion of the launch ceremony, Mohammed bin Abdullah al Khonji, Chairman and CEO, clarified that the Rimal 2 project is being built on a building area of 40,000 square meters, nearby the attractive dune of Bawshar, which offers enjoyable opportunities by the natural sightseen.
He pointed out that, it is expected to take three years to build this project, where its construction works will be undertaken by Al-Binaa Contracting Company, "the main contractor", a subsidiary of AQAR, while 35% of the project was sold during the first offer that allocated for AQAR’s existing customers.
Al Khonji added: There is no doubt that the company's success of ( Rimal 1 ) and the great demand that it has received, as its units were sold within two weeks of its launch, was considered as a great incentive for us to launch our new project, (Rimal 2), asserted that AQAR is thoroughly committed to developing quality real estate projects ,that are built on the modern specification and provided with integrated services.
He pointed out that , the location of the Rimal complex in a lively area at Bausher, is considered as an attractive advantage , that many investors are looking for, where it is located nearby a number of well-known commercial centers such as Oman Mall , Grand Mall, Panorama and Avenues Mall, as well as its proximity to Mohammed Al-Amin Mosque and other various service facilities .
He added that Rimal 2 includes 148 residential units of different sizes, allowing multiple options for all nationalities who would like to own state-art integrated property, while AQAR keens to provide all the required services and facilities that serve the residents of the project and of the surrounding area. The commercial mall at Rimal 2 will be linked with the commercial mall of Rimal 1, within walking distance of the residence, where it will be the largest commercial centre of its kind in the integrated residential complexes.