Warba Bank invested in Muscat through acquiring this high quality, newly built office building ideally located in the north of Azaiba, just a few minutes from Muscat International Airport.
Hosam Nasser Al Muzaiel, Investment Manager, Warba Bank, said: "The real estate sector in Muscat has seen strong growth since the end of last year, which shows that the investors have overcome the psychological effects of the economic crisis that overshadowed the Omani real estate market post-2008. Added to this, the latest study issued by the National Statistics Council of the Sultanate of Oman indicated that GDP grew by 13.1% in the third quarter of 2012, which will have a positively impact on the Sultanate's real estate sector. Against the backdrop of a recovering real estate market in the region, Warba Bank has acquired a high quality property in Oman, building on a number of recent successful investments by the bank."
"This property has a several advantages, including its strategic location, strength and solvency of its tenant, high quality of finishing and modern construction, and a 10-year lease in place ensuring stable cash inflow over the long-term" Added Al Muzaiel.
Concluding Al Muzaiel said: "The bank's diversified investment strategy looks at a range of geographies and categories to take advantage of distinctive investment opportunities to deliver returns while taking into consideration a relatively conservative approach to risk by adopting global standards and adhering to the well-established principles of Shariah."
Source: http://www.ameinfo.com/warba-bank-makes-commercial-real-estate-340289
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