Ayla Oasis Development Company (AODC) has partnered with the Housing Bank for Trade and Finance to launch the Al Usoul programme and facilitate the purchase of housing units in the Ayla Oasis project in the Aqaba province.
A first-of-its-kind initiative in Jordan, the programme offers potential home owners a chance to buy real estate through an innovative mechanism. 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. Through this programme, the financial payments of buyers will be kept secure until the official opening of all housing units. This paves the way for the smooth purchase and ownership of apartments and villas.”
For his part, Mr. Ihab Saadi, General Manager – Acting 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.”