Ayla Oasis Development Company (AODC) has partnered with the Housing Bank for Trade and Finance to launch the Al Usoul program 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 program offers potential homeowners 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 program 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 program, Eng Sahl Dudin, Managing Director of AODC, said: (Our strategic partnership with Housing Bank is based on our commitment to finding new, safe and innovative solutions to provide secure funding options for both parties - the sellers and buyers. Through this program, 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.)