Prime Highlights:
- Al Bandar Development Company secured over $259 million (RO 100 million)in strategic partnerships and investments, marking a major step in its growth plans in Oman.
- The company launched a new brand identity, emphasizing its focus on creating safe, inspiring, and high-quality living spaces while expanding investment opportunities.
Key Facts:
- The company signed financing agreements with leading banksfor its ‘Al Masharef Villas’ project, totaling over $129.5 million (RO 50 million).
- Additional partnerships include a $51.8 million (RO 20 million) deal with eBinaa Professional Servicesfor a sales and leasing platform, and a $7.77 million (RO 3 million) agreement with Artex Company to boost digital marketing.
Key Background:
Al Bandar Development Company secured over $259 million (RO 100 million) in strategic partnerships and investments, marking a major step in its growth plans in Oman. The company signed the agreements during the Home and Building Expo at the Oman Convention and Exhibition Centre, whereby local institutions and banks supported it.
Such joint ventures will empower the company financially, help in infrastructural developments, and foster sustainability in the major sectors of the Omani economy. Senior officials and stakeholders from the real estate and investment sectors, including Eng., attended the signing ceremony. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, presided over the event.
Among the notable agreements, Al Bandar Development Company has joined hands with Oman Broadband Company to implement fiber optic infrastructure worth $7.77 million (RO 3 million) for its ‘Al Bandar’ project in Al Mawaleh, Wilayat of A’Seeb.
The company has signed financing agreements with top banks, including Sohar International Bank, National Bank of Oman, Alizz Islamic Bank, Bank Muscat, and Bank Nizwa, for its ‘Al Masharef Villas’ residential project in Al Qurum. The total financing exceeds $129.5 million (RO 50 million), with Al Ufuq United Development handling project management and marketing.
Other partnerships include a $51.8 million (RO 20 million) deal with eBinaa Professional Services to create a sales and leasing platform, while Al Osool Group will manage residential units and long-term maintenance. Additionally, a $7.77 million (RO 3 million) agreement with Artex Company will improve digital marketing and platform management.
It was also accompanied by the new visual identity of Al Bandar Development Company, which is oriented towards the creation of safe, inspiring, and high-quality living spaces and the opening of new investment opportunities. These collaborations and investments reinforce the status of Al Bandar Development Company as a real estate and infrastructure developer in Oman, leading to economic growth and improvement of the quality of life of its residents.
