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$1bn INVESTMENT SEEN

Amouage to develop $1bn prime waterfront project in Oman

MUSCAT, April 2, 2017

Oman's Ministry of Tourism has signed a strategic agreement with Amouage Hotels & Resorts to develop the Naseem A’Sabah project -  a premium waterfront development within an integrated mixed use community.

The agreement was signed by Ahmed Bin Nasser Al Mahrizi, Minister of Tourism; Mamas Christodoulides, chairman of Amouage Hotels & Resorts; and Mohammed Al Khalidi, who is a partner in the project.

Amouage Hotels & Resorts will be the main developer and investor of the project, which is located on the northern shore of Al-Mawaleh in A’ Seeb in Muscat Governorate, and is part of an Integrated Tourism Complex (ITC). The project covers a total area of 400,000-sq-m, and will go through two stages. The construction work in the first phase will start by next year.

Naseem A’Sabah is valued at RO400 million ($1.03 billion), and is located in one of the most vital sites in the Muscat Governorate. The project will be built by a renowned team of international architects, engineers and consultants to be a residential tourism complex with high quality services and international quality standards; and will keep in mind important factors such as sustainability, environment, the Omani culture and the nation’s people.

The project is designed to accommodate more than 1,200 housing units and hotel rooms. It will have a world-class five-star hotel within its premises, and a business hotel with a total capacity of 600 rooms. In addition to 696 units of world-class design and quality, a marina and yacht club, as well as a thriving mixed-use resort village comprising restaurants, cafes, shops and commercial outlets, office suites, various restaurants, and many other recreational and service facilities will also be a part of the project.

Al Mahrizi said: “In keeping with the Omani Tourism Strategy 2040, ‘Naseem A’Sabah’ is one of the integrated tourism complexes projects, through which we aspire to achieve a number of objectives related to the development of the tourism sector in the sultanate. The project will help further strengthen the infrastructure of the sector, upgrade the quality of services, create various leisure and service facilities, and ensure the optimal use of tourism components while achieving added value for the economy”

Christodoulides added: “To achieve the vision for Naseem A’Sabah and to create a commercially viable ITC development, emphases were given throughout the development in reflecting the local heritage, architecture, and the environment, which will encourage tremendous employment opportunities for Omanis.” - TradeArabia News Service




Tags: Oman | tourism | hotels | project | waterfront | Amouage | Ministry |

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