In a strategic move reflecting its leadership in supporting the real estate sector and developing Islamic finance solutions, ahli islamic announced the signing of two MoUs with Al Osool company to provide housing finance for the “Golf Hills” project, one of the most prominent upcoming developments in Muscat Hills. The bank also launched innovative Sharia-compliant residential finance solutions that enable individuals of various nationalities to own property and benefit from freehold ownership opportunities. This partnership reinforces ahli islamic’s role in offering financing solutions aligned with Oman’s economic growth and meeting the needs of both businesses and individuals, contributing to the foundations of urban development in the country.
The first agreement involved financing the project and was signed by Zainab Al Lawati, DGM, Head of Corporate Islamic Banking. The financing was structured by the bank’s Islamic Corporate Banking team. The second agreement covered financing for the project buyers under the bank’s retail finance solutions and was signed by Noora Sabah Sultan- DGM, Head of Retail Islamic, together with Hassan Mohammed Juma, Chairman of Al Osool Company. These agreements demonstrate the bank’s ability to provide comprehensive financing solutions that support large-scale projects from the construction phase to property ownership.
Commenting on the initiative, Zainab Al Lawati, stated: “ahli islamic’s financial support for the ‘Golf Hills’ project reflects our strategic commitment to backing high-caliber real estate developments that contribute to shaping the national urban landscape, stimulate investment, and drive economic diversification, while contribution to broader national development priorities in Oman vision 2040.”
Noora Sultan,added: “Through Sharia-compliant financing solutions, we aim to facilitate sustainable residential growth while enabling customers to realize homeownership within thoughtfully designed living communities that respond to evolving lifestyle aspirations.”
The Golf Hills development is designed as a self-liquidating real estate undertaking spanning a total land area of 11,565 square meters within the Muscat Hills master community. It have 366 residential units distributed across three towers with a total built-up area of 59,845 square meters, supported by more than 400 dedicated parking spaces. The residential mix includes 212 one-bedroom units, 136 two-bedroom units, 4 two-and-a-half-bedroom units, and 14 three-bedroom units. Select residences incorporate expansive views overlooking the Muscat Hills Golf Course, reinforcing the development’s positioning within Oman’s premium freehold residential segment.
The financial facility has been implemented in accordance with Sharia principles and reflects ahli islamic’s disciplined funding approach, combining prudent risk management with sector-focused expertise to enable efficient execution and sustained asset value creation. The Golf Hills financing reflects ahli Islamic’s continued role in expanding Sharia-compliant real estate financing across Oman’s residential sector. By facilitating projects that enhance housing quality and strengthen long-term investment value, ahli islamic remains focused on reinforcing market confidence while promoting responsible sector growth.