The acquisition marked the first purchase agreement with Dubai-based Binghatti Developers.
Bank Muscat’s Izdihar Real Estate Fund (Izdihar) announced that it has acquired Binghatti Vista and Binghatti Sapphires, two premium residential properties in Dubai Silicon Oasis, reported local daily, Oman Observer.
In a statement, Izdihar stated that it acquired Binghatti Vista, an iconic nine floors building and Binghatti Sapphires, a 10-floor residential building both which highlights Binghatti Developers’ signature design.
Sulaiman al Yahyai, the Chairman of Izdihar’s Fund Management Board, said, “Izdihar’s investments are backed by strong asset positions, long-term leases, sound property management and attractive locations.”
“We would like to thank the investors for their continuous support and welcome Binghatti Holding as a partner,” says Abdullah al Hinai, General Manager Wholesale Banking of Bank Muscat.