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FINANCIAL NEWS
Oman’s Saraya Bandar Jissah signs USD275m financing deal
14 Sep 2015
(MENAFN) Oman’s Saraya Bandar Jissah announced signing a partnership agreement with Bank Muscat and Bank Dhofar to finance development of the Tourism Complex (ITC) property.
As one of the largest real estate financial transactions in the Sultanate, the agreement with Bank Muscat and Bank Dhofar for development finance is valued at USD275 million.
According to the agreement, the entire first phase of the development will be financed to the developer. The first phase of includes two beachfront Jumeirah Group hotels and 3 exclusive residential zones.
“The agreement between Saraya Bandar Jissah, Bank Muscat and BankDhofar – the largest banks in the Sultanate, is of great strategic importance,” CEO of Saraya Bandar Jissah said.
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