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Maisarah signs finance agreement for new hotel in Muscat

An agreement has been signed between the Maisarah Islamic Banking Services and Shaza Oman for the financing of a brand new hotel in Muscat in Oman. Scheduled to have a "soft opening" in December, 2015, the five-star hotel will constructed by the Shaza Oman Company SAOC and will be managed by Millennium and Copthorne Hotels.

Maisarah signs finance agreement for new hotel in Muscat

A brand new hotel is scheduled to open in Muscat, Oman's capital, following the signing of an agreement between Shaza Oman and Maisarah Islamic Banking Services.

Maisarah Islamic Banking Services will finance the construction of the new five-star hotel in Muscat that will be built by Shaza Oman Company SAOC and managed by Millennium and Copthorne Hotels.

The agreement was signed at a ceremony that was attended by Abdul Hakeem Al Ojaili, acting CEO of BankDhofar, Eng Abdul Rahman Ba Omar, CEO of Al Madina Real Estate, Eng Mohammad Al Ghassani, CEO of GLOREI, Sohail Niazi, chief Islamic banking officer, Maisarah, and many officials.

The luxury hotel is scheduled to have a soft launch in December, 2015, and it will have standard rooms, executive rooms, suites, a ballroom for events, and themed restaurants.

"We at Maisarah continue to be the leading provider of shariah-compliant products and services for both retail and corporate customers."

Explained Faisal Al Tamimi, the head of wholesale banking at Maisarah. He also said:

"This agreement comes as part of our broader strategic plan and continuous efforts to provide tailored financial solutions to our diverse customer base."

Muscat is the capital of Oman and visitors can walk for miles along the city's pristine beaches and coastline. Holidaymakers can explore the city's historic sites and tourist attractions such as the Al Jalali Fort and Al Mirani forts, Qasr Al Alam Royal Palace, Sultan Qaboos Grand Mosque, the Bait az-Zubair Museum and the Qurum National Park.

Oman has become a popular tourist destination over recent years and the country now offers a selection of luxury hotels, attractions, sights and activities for travellers of all ages.

Despite the thousands of miles of dry golden sand deserts and dunes, Oman is fast-becoming a popular destination for scuba diving and snorkelling. The shores off the coast of Muscat are teeming with colourful soft and hard corals and hundreds of marine species, from seahorses and Oman clownfish, to loggerhead turtles, dolphins, sharks and humpback whales.

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