Kuwait to be 1st market to benefit from New Payment Plan on Ready Properties

Kuwait, February 22, 2018:  Muscat Bay, Oman’s leading luxury resort, will be showcasing its award winning residences to prospective customers at a special five-day showing at Avenue Mall Kuwait starting from February 28. As part of the event, Muscat Bay has announced that it will be offering an exclusive payment plan for a limited number of ready units for the Kuwait market. 

Commenting on the Muscat Bay Expo, Paul Jessup, Vice President of Sales and Marketing at Muscat Bay said, “Muscat Bay is a peaceful natural haven with award winning luxury residences that feature the serenity of nature practically at their doorstep. More importantly, it is one of the only places in the Sultanate, and the region as whole, that offers owners an escape from the stresses and strains of daily life alongside easy access to modern life. It is these very qualities that make the homes at Muscat Bay extremely attractive to buyers in Kuwait and the region alike.”

The Muscat Bay activity will run from February 28 to March 4 at The Avenues Mall, Kuwait and will be hosted by a team from Muscat Bay and Al Saltana Real Estate, Muscat Bay’s premier real estate representative in Kuwait. The Muscat Bay project is the region’s leading resort village which, once completed, will be home to exclusive residential units in five freehold residential zones alongside two five-star hotels operated by the region’s leading operator Jumeirah. Muscat Bay’s residences will include Zaha Parkland and Waterfront three and four bedroom villas, large duplexes and one and two bedroom Parkland Residences and Premium Waterfront and Parkland Residences. It is an Integrated Tourism Complex (ITC) that has a freehold benefit open to all nationalities. According to Omani laws, foreign owners are allowed ownership of residential properties in these projects and attain the right to reside in the Sultanate, alongside their family, for the entire period that they are in possession of the property. This offers an added value for investment at this leading project of Muscat Bay.

In celebration of the imminent handover of residences from the first phase, Muscat Bay will be launching an exclusive payment plan offer on a limited number of its freehold residences - a plan which has been introduced exclusively for the Kuwait market. The special payment plan, titled ‘Your Space to Breathe’, offers prospective owners the option of paying for the property in three easy steps; starting with 5% at the time of reservation. The next payment of 45% will become due at Handover or in three months, whichever is earlier; and will be followed by the balance payment of 50%, in 12 months from the second payment. This offer is valid on selected properties and will be treated on a first-come, first-served basis. Investors have the opportunity to earn rental yield with only 50% of capital employed, which in turn allows them to double their revenue.

“We are very excited to be launching this exclusive promotion for only a limited number of units for our friends in Kuwait.  We already have a number of Kuwaiti buyers as part of our community and look forward to welcoming more to join us at Muscat Bay – one of the region’s most perfect natural beachfront escapes, which is only a 30-minute drive from the soon-to-be opened new Muscat International Airport.” concluded Paul.