Oman Housing Bank

What Oman Housing Bank does

Oman Housing Bank (OHB) is a state-owned specialized housing finance institution established in 1977 in the Sultanate of Oman, structured as a closed Omani joint stock company (SAOC) with the Ministry of Finance holding 61% and the Social Protection Fund holding 39% of ownership. The bank's mandate is to provide subsidized housing loans to Omani citizens, serving as the government's primary instrument for housing affordability. Since inception, OHB has disbursed over 2.1 billion OMR in housing finance to more than 75,000 Omani families, with a 2024 lending portfolio of 858.5 million OMR (up 11% year-over-year) and total assets of 896.8 million OMR (up 13%). The bank is headquartered in Ruwi, Muscat, and operates 10 branches across all governorates of Oman.

OHB's product set centers on tiered subsidized housing loans at government-mandated rates of 1% (income below 400 OMR), 3% (401-999 OMR), and 4% (above 1,000 OMR), with maximum amounts of 60,000 OMR for standard properties and 80,000 OMR for integrated city units under the Surooh program. Supporting offerings include construction loans, renovation loans, mortgage refinancing, and deposit services (savings at 1%, fixed deposits at 2.00%-4.10%, and tiered call accounts at 2.15%-4.00%). The Iskan digital platform, launched in January 2024 in partnership with local traditional and Islamic banks, enables citizens on housing waiting lists to apply, verify eligibility, calculate installments, and select a partner bank online, reducing processing times from four years to six months. Additional infrastructure includes a contractor/consultant registration system, an employer partnership program for salary-assigned customers, an online loan calculator, and an IBAN generator, all connected to a new core banking system deployed as part of an ongoing institutional transformation.

Revenue is generated primarily through interest income on the subsidized lending portfolio and net interest spread on deposits, with partnership referral services to other banks for non-housing products as an ancillary stream. Distribution is hybrid: 10 physical branches, the Iskan self-service platform, a call center, employer partnership channels, and partner bank referrals. The bank is currently executing a multi-year institutional transformation under royal directives, including branch modernization across six locations, a new core banking system, digital service expansion, and a Middle Management Leadership Development Program to build organizational capacity for sustained delivery against the housing mandate.

Name

Oman Housing Bank

Legal name

Oman Housing Bank (SAOC)

Website

https://ohb.co.om

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

251–500 employees

Short description

Oman Housing Bank (OHB) is a government-owned specialized housing finance institution serving Omani citizens with subsidized housing loans since 1977. It distributes financing through 10 branches nationwide, the Iskan digital platform, and partner bank partnerships to enable affordable homeownership.

Ownership category

akta.pro rank

Product category

Housing Finance

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Real Estate Credit (522292), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Mortgage Bankers & Loan Correspondents (6162), Federal & Federally-Sponsored Credit Agencies (6111), Loan Brokers (6163)

akta.pro primary industry

National Housing Finance Agencies & Ministries (FSALAKAB)

Keywords

• Housing finance
• Subsidized mortgage loans
• Deposit services
• Construction financing
• Treasury solutions

Headquarters

HQ city

Ruwi

HQ country

Oman

HQ region

Middle East

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Housing Loan Interest Income: The primary revenue stream comes from interest/profit earned on subsidized government-backed housing loans provided to Omani citizens. Interest rates are government-subsidized based on income brackets (1%, 3%, 4%), with maximum loan amounts of 60,000 OMR for standard properties and 80,000 OMR for integrated city units.
2. Deposit Interest Spread: Revenue generated from the spread between interest paid on customer deposits and interest earned on loans. The bank offers competitive deposit rates ranging from 2.00% to 4.10% depending on deposit term and amount.
3. Partnership Referral Services: The bank facilitates referrals of salary-assigned customers to partner banks for non-housing banking products (personal loans, auto loans), with no fees charged to customers for this referral service.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Oman Housing Bank provides government-subsidized housing loans to Omani citizens with interest rates tiered by income (1%, 3%, or 4%) and maximum loan amounts of 60,000 OMR for standard properties and 80,000 OMR for integrated city units. The bank also offers deposit services (savings accounts, fixed deposits, and call accounts), construction and renovation loans, mortgage refinancing, treasury and financial solutions, and operates the Iskan digital platform that links applicants with partner banks to accelerate loan processing from years to months.

Product overview

Oman Housing Bank (OHB) operates as a specialized housing finance institution offering a comprehensive suite of financial products and services. The core offering consists of subsidized housing loans (up to 60,000 OMR for standard properties, 80,000 OMR for integrated cities) with income-based interest rates ranging from 1-4%. Supporting products include construction loans, renovation loans, and mortgage refinancing. Deposit services encompass savings accounts, fixed deposits, and call accounts with competitive interest rates. The Iskan Program serves as the bank's digital platform, enabling citizens on waiting lists to access housing finance from partner banks through streamlined electronic processes. The Integrated Cities (Surooh) initiative provides financing for government-integrated residential developments. Additional services include contractor registration for bank-financed projects, loan calculators, IBAN tools, and a partnership program for non-housing banking products. The bank operates 11 branches across Oman and maintains a digital banking platform aligned with Oman Vision 2040.

Differentiator

Problem solved

Functional benefit

Products and services

• Housing Loans (Subsidized) Government-subsidized housing loans for Omani citizens with interest rates based on monthly income brackets (1% for incomes below 400 OMR, 3% for 401-999 OMR, 4% for above 1,000 OMR), maximum loan amounts up to 60,000 OMR for standard residential properties and 80,000 OMR for integrated city (Surooh) units, with loan terms up to 25 years including grace period.
• Construction Loans Loans designed for individuals building a new home, providing funds to cover construction costs with flexible repayment terms.
• Renovation Loans Financing options for homeowners to renovate or improve existing homes, offering subsidized rates for home enhancements.
• Mortgage Refinancing Refinancing of existing mortgages with better terms and lower interest rates to reduce monthly payments and overall loan costs for customers.
• Savings Accounts Savings accounts designed to help customers save for the future with interest of 1% credited semi-annually in June and December.
• Fixed Deposits Fixed deposit accounts offering higher interest rates for customers who can commit to longer-term savings, with rates ranging from 2.00% (1 month) to 4.10% (12 months) across 1-36 month tenors.
• Call Accounts Call deposit accounts providing easy access to funds for everyday transactions with tiered interest rates from 2.15% to 4.00% based on deposit amount tiers up to over 2,000,000 OMR.
• Iskan Program Digital platform connecting citizens on housing waiting lists with multiple partner banks (conventional and Islamic) to apply for subsidized housing financing, check eligibility, calculate installments, and select a partner bank for coordinated loan processing, reducing waiting periods from four years to six months.
• Integrated Cities (Surooh) Financing Housing development financing offering for residential units in government-integrated cities and neighborhoods, featuring higher loan limits up to 80,000 OMR, no waiting list, and streamlined processing through the Iskan platform.
• Partnership Program for Non-Housing Banking Products Referral service helping Omani Housing Bank salary-assigned customers access personal loans, auto finance, and other non-housing banking products from partner banks, with OHB facilitating the referral while partner banks handle credit assessment and approval.
• Treasury and Financial Solutions Treasury and correspondent banking services managed by the Treasury and Financial Institutions Department, including inter-bank deposit management and financial institution relationships through dedicated contacts.

Quantifiable outcome

• Waiting period reduced from 4 years to 6 months
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core.

• Real Estate Developers - Al-Majd Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Majd Neighborhood Project in Sohar for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Husn Al-Zain ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Husn Al-Zain Project in Bidbid for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Naseem Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Naseem Neighborhood Project in Barka for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Wafa Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Wafa Neighborhood Project in Sultan Haitham City for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Sarouj Oasis ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Sarouj Oasis Project for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Luban Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Luban Neighborhood Project in Halban for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Azm Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Azm Neighborhood Project in Rustaq for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Sumoo Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Sumoo Neighborhood Project in Mudhaybi for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Real Estate Developers - Al-Shurooq Neighborhood ProjectcoreStrategic or Co-development Partner · 1 January 2025Partnership with Al-Shurooq Neighborhood Project in Salalah for integrated city housing development under the Surooh program, providing financing up to 80,000 OMR for eligible buyers.
• Local Banks (Traditional and Islamic)coreStrategic or Co-development Partner · 1 January 2024The bank partnered with multiple traditional and Islamic banks under the Iskan program to accelerate housing financing processing. Through these partnerships, loan applications from waiting lists are referred to partner banks for processing under a coordinated financing system, reducing waiting times from years to months. The program enables 6,634 families to obtain financing totaling 315 million OMR from January 2024 to December 2025.

Scale indicators18 records

Recent moves11 records

Expansion highlights6 records

Regional players

• Bank Muscat: Largest bank in Oman offering commercial mortgages that compete with OHB's housing loans for higher-income Omani citizens. Comparable as a deposit-taking, lending institution serving the same Omani consumer base.
• Bank Dhofar: Omani regional bank with strong presence in the Dhofar Governorate where OHB also operates its Salalah branch; competing for retail mortgage and deposit customers in the same geography.
• Ahli Bank: Omani commercial bank offering housing loans and deposit products that overlap with OHB's customer segments across multiple governorates of Oman.
• National Bank of Oman: Major Omani commercial bank offering mortgage products that compete with OHB for salaried Omani citizens, particularly in the higher income brackets where OHB's 4% rate is less differentiated.
• Bank Nizwa: Oman's leading Islamic bank, a partner in the Iskan program and a competing housing finance provider for Omani citizens seeking Shariah-compliant mortgages.

Direct peers

• Kuwait Real Estate Bank (KRE): Kuwait-based specialized real estate and housing finance bank. Comparable as a GCC-focused single-purpose real-estate lender with similar customer profile of citizens seeking property financing.
• Housing & Development Bank: Egyptian government-affiliated specialized housing finance bank providing mortgage and real-estate financing. Comparable as a state-backed single-purpose housing lender serving a national citizen base.
• Saudi Real Estate Refinance Company (SRC): Saudi government-owned entity focused on housing finance refinancing and secondary market support. Comparable in mission to enable citizen homeownership through subsidized finance, operating under similar government-mandate framework.
• Eskan Bank: Bahrain's specialized government housing finance institution offering subsidized home loans to citizens. Closest structural analog to OHB in terms of mission, government ownership, and concentrated housing-finance mandate.

Broad incumbents

• Al Rajhi Bank: Largest mortgage provider in Saudi Arabia and one of the largest GCC banks by assets. Comparable as a regional incumbent with a dominant retail housing-finance franchise, though operating at much greater scale and with broader product mix than OHB.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks4 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/oman-housing-bank-s-a-o-c
• Xx.com/omanhousingbank
• Facebookfacebook.com/OmanHousingBank

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Oman Housing Bank