Houses of different specifications are on offer for both citizens and expats in Rimal 2 project by Aqar. Some 148 housing units are being offered under the project, which was launched last week.
Strategically located in Bausher near the dunes, the Rimal 2 was launched after the success of the Rimal 1 and is available at a starting price of RO 35,000.
Built on 40,000 square metres with three-level electronic underground parking, Rimal 2 offers 148 residential units provided with luxurious integrated services.
Speaking to the Observer, Mohammed bin Abdullah al Khonji, Chairman and CEO of Aqar under Al Khonji Real Estate and Development, said nearly 35 per cent of the project had been sold off during the first offer that was allocated for Aqar's existing customers.
"There is no doubt that the success of Rimal 1 and the great demand that we received, the units were sold within two weeks of its launch. It worked as a great incentive to launch our new project, Rimal 2. Aqar is committed to developing quality real estate projects built with modern specifications and integrated services," said Al Khonji.
Al Khonji Real Estate and Development and Bank Nizwa signed a memorandum of cooperation for ease of financing for those interested in buying units in the project. Mohammed al Khonji signed on behalf of Al Khonji Real Estate and Development, while Arif al Zaabi, AGM Retail Banking, on the bank's behalf.
"The real estate market demands integrated housing complexes with unique specifications. Now is the most appropriate time to buy residential units, coinciding with Rimal 2, which launched its units at prices that match the market levels," he added.
Ownership of the project's units is available to all nationalities and will be delivered in less than three years' time.
"It is expected to take three years to build this project. Construction work will be undertaken by Al Binaa Contracting Company, the main contractor, a subsidiary of Aqar. The project's construction started in January, and 35 per cent of the units sold during the first offer," Al Khonji added.
"We provide innovative and Shariah-compliant real estate financing solutions. We have designed our real estate financing solutions to meet the different requirements of our growing customer base. At the same time, we are confident that the new profitability rate is an exemplary rate for the retail customers who are interested in utilising the Shariah-compliant real estate financing solutions easily and flexibly," Arif al Zaabi of Bank Nizwa said.
Rimal 2 project consists of one, two and three bedrooms apartments and a housemaid room/office. Some apartments have been provided with a plunge pool. The apartment areas range from 70 to 215 square metres.
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