Muscat: The Ministry of Finance (MoF), in cooperation with the Ministry of Housing and Urban Planning (MoHUP) and the Oman Housing Bank (OHB), launched the Iskan programme, which aims to accelerate access to subsidised housing loans for citizens on the waiting lists of MoHUP and OHB. The Ministry of Finance will provide partial support for loan interests with a lending portfolio amounting to RO1.9 bn.
The housing programme is set to increase the movement of real estate activity, support the ownership of housing units in integrated residential complexes, and promote the purchase of goods and services in the local market.
The Iskan programme is expected to boost funds and liquidity in the national economy, enhance local added value, and support the development and localization of some industries. Meanwhile, the programme will help enable local banks to provide housing financing services. Mainly, the housing program will enable more than 60,000 families to obtain housing financing.
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