DarGlobal has unveiled what it describes as Oman’s first housing finance programme built specifically for overseas property buyers, partnering with Sohar Islamic to offer mortgage-style funding aimed at expatriates and non-resident investors seeking homes in the sultanate.
The move targets a long-standing friction point in Oman’s real estate pitch to international buyers. While foreigners have been able to purchase in designated developments, most cross-border buyers have still relied on cash, developer instalment plans, or financing arranged outside the country. By pairing a property developer with an Omani bank’s Islamic finance window, the programme is designed to bring regulated, locally issued housing finance into the buying journey for non-Omanis.
DarGlobal said the partnership is intended to make ownership “more accessible, affordable, and flexible” for international purchasers, positioning financing as a lever to widen the pool of buyers beyond high-net-worth cash investors.
What the programme offers
Sohar Islamic’s published product terms outline a financing structure that is explicitly open to expatriates living in Oman as well as non-residents abroad, with eligibility and documentation requirements geared toward cross-border applicants.
Key features include:
Financing up to OMR 250,000, capped at 50 percent of the property value, whichever is lower
Tenors up to 10 years, including an 18-month grace period for under-construction properties
A stated profit rate of 6.00 percent per year
Availability limited to Integrated Tourism Complex projects registered with the bank and approved for sales to non-Omanis
A minimum age of 30 and maximum age of 60 at facility maturity
Income and verification thresholds that differ for residents and non-residents, including requirements for stable employment or business income, credit history checks, and employer documentation, with embassy or consulate attestation required for some non-resident verification
While DarGlobal has not publicly itemised which of its Omani projects will be immediately eligible, the ITC restriction effectively focuses the programme on developments that already sit within Oman’s established foreign-ownership framework.
Why financing matters in Oman’s foreign buyer push
Oman has been trying to broaden its appeal as a lifestyle and second-home destination, building on natural advantages such as coastline, relative political stability, and a slower-paced tourism proposition compared with some Gulf neighbours. Real estate has increasingly been sold as part of that story, particularly where high-end residential, hospitality and leisure assets overlap.
But foreign demand can be sensitive to the ease of transaction. In many markets, access to local finance is a critical part of converting interest into purchases, especially for buyers who prefer leverage, want to diversify capital, or are buying off-plan while keeping liquidity available.
By introducing a formalised housing finance path for non-residents, the DarGlobal and Sohar Islamic tie-up aims to move Oman closer to more mature second-home markets where non-resident mortgage products are a standard feature rather than an exception.
A bet on Integrated Tourism Complexes
The programme’s explicit link to Integrated Tourism Complexes is significant. ITCs are the backbone of Oman’s foreign ownership model, typically combining residential units with resort-style amenities and, in many cases, hotel-branded living. The ITC structure also aligns with the government’s wider goals of drawing long-stay visitors, boosting tourism receipts and supporting job creation through construction, hospitality and services.
Sohar International and Sohar Islamic have recently positioned housing finance as part of a broader strategy to expand access to property ownership and investment in the sultanate, including for expatriates and GCC nationals. Industry reporting and company statements have framed such initiatives as supportive of national development priorities and the economic diversification goals often associated with Oman Vision 2040.
What it could change for buyers and developers
For buyers, the practical impact is straightforward: an onshore, Sharia-compliant financing option that is structured for foreigners, including those living outside the country, could reduce the upfront cash burden and make off-plan purchases more workable.
For developers, the commercial logic is also clear. Financing can widen the addressable market, lower the barrier to entry for mid-to-upper tier buyers, and potentially shorten sales cycles by integrating bank approvals into the purchase funnel.
If uptake is strong, the programme could also put competitive pressure on other lenders to refine non-resident housing finance offerings, potentially deepening Oman’s mortgage market for foreigners in the same way that ITC development helped establish the legal pathway for foreign ownership in the first place.
What to watch next
The launch raises several questions that will shape its real-world impact:
Project coverage: which ITC projects are registered with the bank and available for this financing, and whether DarGlobal’s flagship developments are included from day one
Borrower profile: whether the product is mainly used by high-income expatriates, non-resident GCC buyers, or a broader international cohort
Pricing and flexibility: how competitive the 6 percent stated rate is relative to alternative funding routes for overseas investors, particularly as global interest rates shift
Market effects: whether easier financing translates into higher transaction volumes, firmer pricing in eligible ITCs, or increased off-plan demand
For Oman, the broader signal is that the country’s foreign-buyer proposition is evolving beyond permitting ownership toward actively enabling it through local financial infrastructure.
