Created with Housing Bank a financing product the first of its kind in Jordan
- Dudin: The program ensures the buyers’ payments into a deposit account with Housing Bank until the completion of building pending construction and waiver for the buyer
- Alsaadi: The Bank will enable buyers to get loans and financing suitable for various levels of income
Aqaba – Alanbat
Ayla OASIS Development Company, the developer of Ayla project in Aqaba has launched in collaboration with the Housing Bank “Al Usoul” programme to finance the purchase of housing units in the project Ayla OASIS/ Aqaba.
A first-of-its-kind initiative in Jordan, the programme offers potential home owners a chance to buy real estate through an innovative mechanism will enhance confidence in the real estate market.
Enrolling for Al Usoul will entitle buyers to make easy payments that are conserved through leveraging the insurance management practice at the Housing Bank. The payments made by buyers will be placed into escrow accounts until the construction of the project is complete to ensure the smooth transfer of ownership of all housing units. Furthermore, the programme will assist in the acquisition and financing of housing units through a roster of banks.
AODC guarantees timely delivery of housing units within the given deadline without any compromise of payments provided by buyers. To date, AODC has completed infrastructure works for the Ayla project - including its lagoons, golf course and services at a cost exceeding JD300 million.
Commenting on the value of Al Usoul programme, Eng Sahl Dudin, Managing Director of AODC, said: “Our strategic partnership with Housing Bank is based on our commitment to find new, safe and innovative solutions to provide secure funding options for both parties - the sellers and buyers.
For his part, Ihab Al-Saadi, Acting Director General of the Housing Bank expressed his trust in Al Usoul programme. He said: “As the first-of-its-kind in Jordan, we hope this programme will receive a high uptake from buyers. Ayla Oasis has launched this programme to serve the interests of both the seller and the buyer, in accordance with the terms and provisions of its agreement with the Housing Bank. Notably, the bank will enable buyers to obtain financing loans as part of our innovative products that we offer.
We are committed to meeting the expectations and aspirations of our existing and potential customers.”