Wednesday 22 January 2020

Damac to break ground on $2bn Omani waterfront project

MUSCAT, July 7, 2019

Leading UAE developer Damac will break ground in November on Mina Al Sultan Qaboos, a $2-billion modern waterfront destination being developed in a joint venture with Oman Tourism Development Company (Omran).

Omran, the government’s investment, growth and development arm, said the move comes following the completion of several preparatory activities.

The prequalification for the main construction packages has been completed and companies have been shortlisted to carry out various aspects of the project.

More than 100 companies have shown interest in the various key construction and installation packages. The first package will be tendered this month and construction activities on the project site are set to begin in November.

A number of studies have been conducted in the areas surrounding the project to ensure that the development is sustainable.

Damac said the duo was chosen by Oman government to redevelop ‘Mina Al Sultan Qaboos Waterfront’ into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.

The transformation of the historical Mina Al Sultan Qaboos waterfront area is progressing rapidly as the project completes several preparatory activities in accordance with the project masterplan that has been approved by the Ministry of Tourism and Ministry of Housing in Oman.

The Dubai developer said the MoU and Shareholders Agreement for the project have been signed, and final discussions with concerned ministries regarding the project development agreement are under way.

Meanwhile, work on the Discovery Centre located at the Al Inshirah plot of the Muttrah corniche, is nearing completion and will be opened to the public in the third quarter of 2019.

Along with exceptional views of the Muttrah Corniche and Gulf of Oman, the centre will have an Omani art gallery as a tribute to the rich cultural influences of this historically significant location. The centre will also feature a popular Omani sea food restaurant which will be operated by an Omani food and beverage operator, said the statement from Damac.

An experienced Omani firm has been appointed for the management and maintenance of the Discovery Centre, wherein visitors will be able to see the project masterplan and get a sense of the residential developments through the show flats that will be on display, it added.

Since the project involves regeneration of an existing port, the project teams coordinated with 22 existing tenants (both government and private entities), and following discussion, six of them were identified and relocated from the project site to other suitable places, said Damac in its statement.

Work has been completed on the clearing of the project site, and rerouted services and utilities like electricity, water and telecom away from the development path, it added.-TradeArabia News Service


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