Saraya Bandar Jissah Inks Development Finance Agreement approximately 106 Million Omani Rial with Bank Muscat and BankDhofar
Saraya Bandar Jissah, the company developing Oman`s luxurious Integrated Tourism Complex (ITC) in Muscat, has taken a significant step by partnering with Bank Muscat and BankDhofar to finance development of the ITC property. Dubbed as one of the largest real estate financial transactions in the Sultanate in recent years, the agreement Saraya Bandar Jissah has signed with Bank Muscat and BankDhofar for development finance is valued at USD275 mn (Approx. OMR106 mn). Under the terms of the agreement, the entire first phase of the development will be financed to the developer. The first phase of Saraya Bandar Jissah comprises two beachfront Jumeirah Group hotels, three exclusive residential zones – Zaha, Nameer and Wajd, comprehensive recreational facilities and staff accommodation.