Muscat: 48,000 Omanis are eligible to buy their dreams home at a subsidised rate in the first phase of Sultan Haitham City in Barka.
The Ministry of Housing and Urban Planning has reached out to these eligible families ahead of residential unit sales in selected neighbourhoods of Phase 1 of Sultan Haitham City.
Sultan Haitham City is extending government-subsidised residential land grants to eligible buyers, along with reduced-interest financing plans through both commercial and government banks.
The ministry has invited interested parties to visit the Future Legacy corner at Muscat City Centre, available until October 25.
Earlier this year, the ministry inked several agreements with government and private entities for the Phase 1 development. To assist with financing, a pact was signed to offer RO 240m in housing loans, benefiting 3,000 applicants with an increased loan limit of RO 80,000, in association with Housing Bank of Oman.
Additional financial agreements were secured with major banks including Bank Muscat, Ahli Bank, Oman Arab Bank, National Bank of Oman, Sohar International Bank, Sohar Islamic Bank, Bank Dhofar and Alizz Islamic Bank.
Sultan Haitham City’s development is planned in four stages. Phase 1, from 2024 to 2030, will feature 6,743 housing units, a private hospital, a fuel station, four schools, 19 commercial plots and other amenities.
Phase 2, from 2028 to 2035, will encompass 2.6m sqm, housing over 23,000 residents in 4,200 units. Phase 3, from 2033 to 2040, will span 2.3m sqm and accommodate over 21,000 people in 3,500 housing units.
The final phase, projected for 2038 to 2045, will unfold over approximately 5.5m sqm and provide homes for over 26,000 individuals in 4,500 units.
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