Al Khonji Real Estate & Development (AQAR) , the leading property developer in the Sultanate, celebrated the launch of its high-end integrated residential complex (Rimal 2), located in Bausher, as an extension of ( Rimal 1), which also developed by AQAR , while its units were sold within two weeks of its launch.
The celebration ceremony also included signing of a memorandum of cooperation with Bank Nizwa to finance the bank's customers who are interesting to own a residential housing units in Rimal 2 project.
The Memorandum of cooperation inked by Mohammed bin Abdullah al Khonji , Chairman and CEO of AQAR , on behalf of Al Khonji Real Estate & Development, and Arif Al-Zaabi, AGM Retail Banking at Bank Nizwa , on behalf of the Bank .
Arif Al Zaabi expressed his pleasure by the bilateral cooperation between Bank Nizwa and AQAR , to provide innovative and Shariah-compliant real estate financing solutions. He stated that : “ We have designed our real estate financing solutions to meet the different requirements of our growing customer base, while we are confident that, the new profitability rate is an exemplary rate for the retail customers who are interesting in utilizing the Shariah-compliant real estate financing solutions easily and flexibly”.
In his speech at the press conference held on the occasion of the launch ceremony, Mohammed bin Abdullah al Khonji, Chairman and CEO, clarified that the Rimal 2 project is being built on a building area of 40,000 square meters, nearby the attractive dune of Bawshar, which offers enjoyable opportunities by the natural sightseen.
He pointed out that, it is expected to take three years to build this project, where its construction works will be undertaken by Al-Binaa Contracting Company, "the main contractor", a subsidiary of AQAR, while 35% of the project was sold during the first offer that allocated for AQAR’s existing customers.
Rimal 2’s strategic location:
Al Khonji added: There is no doubt that the company's success of ( Rimal 1 ) and the great demand that it has received, as its units were sold within two weeks of its launch, was considered as a great incentive for us to launch our new project, (Rimal 2), asserted that AQAR is thoroughly committed to developing quality real estate projects ,that are built on the modern specification and provided with integrated services.
He pointed out that , the location of the Rimal complex in a lively area at Bausher, is considered as an attractive advantage , that many investors are looking for, where it is located nearby a number of well-known commercial centers such as Oman Mall , Grand Mall, Panorama and Avenues Mall, as well as its proximity to Mohammed Al-Amin Mosque and other various service facilities .
He added that Rimal 2 includes 148 residential units of different sizes, allowing multiple options for all nationalities who would like to own state-art integrated property, while AQAR keens to provide all the required services and facilities that serve the residents of the project and of the surrounding area. The commercial mall at Rimal 2 will be linked with the commercial mall of Rimal 1, within walking distance of the residence, where it will be the largest commercial centre of its kind in the integrated residential complexes.
Creative Designs to Meet the Requirements of Modern Life:
The residential units in the Rimal 2 project were designed in accordance with the latest creative designs, in which the Italian style blends with the originality of the Omani architectural character. The interior design of the residential units took into account the exploitation of the spaces with high-end finishes in a way that offers comfort for the residents.
In response to journalists' questions, Al Khonji said that the current time is a great opportunity to buy, as AQAR has set prices to match the levels of the real estate market, as well as the provided advantages of the project and its reasonable prices contribute to attracting those who are looking toward investment or housing.
Rimal 2 project consists of one and two bedrooms apartments, in addition to a housemaid room /office. Some apartments have been provided with a small swimming pool. The apartment areas range from 70 to 215 square meters.
The prices of residential units at Rimal 2 ,start from RO (35,000) for the unit consisting of one bedroom, with hall, kitchen, bathroom, along with its all other service facilities, including refrigerators and kitchen appliances.
Al Khnoji also asserted that AQAR is thoroughly committed to developing quality real estate projects that are built on the modern specification, while Rimal 2 project is considered as one of the vital strategic projects that will revive the investment movement of residential units in the Sultanate, and providing an ideal environment for families looking for housing in the best projects, whether in terms of construction quality or appropriate location.
A qualitative addition to the real estate sector
According to Mohammed Al Khnoji, AQAR launched its new project based on an extensive study of the real estate market, making it a unique project and a qualitative addition that is reflected in the availability of all service facilities.
He added that, the market is still accommodating housing units in light of the increase in the youth segment, supported by the policies pursued by the government and opening the door for ownership to all nationalities.
AQAR always keens to use the best materials in the internal finishing operations, including doors and windows, water and electricity installations works , etc., which confirms its commitment to providing high-quality housing units in accordance with the highest standards and high-end engineering specifications.
Rimal 2 has three-level underground parking operating with an electronic system, where the first level of the parking is for the mall and the second and third ones are for residents, an exclusive swimming pool, shopping mall, children’s play area, space for barbeques, a gym for men and women, The mall in Rimal 1 and Rimal 2 projects will be linked together to provide a large area that meets the needs of residents and residents of the surrounding areas, while the health club and other services will be complementary with the "Rimal 1" project.
Easy Payment Term:
The Chairman and CEO of AQAR clarified the payment term of the value of residential by paying 10% in advance within 30 days, 10% within 12 months, and 80% upon handing over the property to the customer, that through financing from Bank Nizwa or one of the other local banks.