Oman’s Urban, Home & Building Expo and Conference saw agreements worth more than RO550 million ($1.43 billion) signed on Wednesday, covering tourism, education, real estate, food security and housing, the Ministry of Housing and Urban Planning said.
The agreements were signed during an investment forum held as part of Urban October, which runs from Oct. 5 to Oct. 8 at the Oman Convention and Exhibition Centre.
The largest agreement was a development deal worth more than 400 million rials between the Ministry of Heritage and Tourism and Dhofar Tourism Company for Modana, an integrated tourism complex.
A separate agreement between Al Daham Real Estate and Al Injaz International Private School covers the development of an international school within the Saraya Bausher project, part of the Sorouh developments, with an investment value exceeding RO10 million.
Housing and community projects
The forum also included agreements to support housing for lower-income families and orphans.
Under the SAS initiative, a cooperation and community contribution agreement with Al Rahma Association for Motherhood and Childhood Care will support a programme targeting 300 homes, funded by PNC Menon, founder and chairman of Sobha Group.
Three projects under the initiative will provide 63 housing units with a combined value of more than 2.1 million rials.
The projects include 11 units in Al Musannah and Barka, 26 units in Al Uqdah in Barka and another 26 units in Al Hafri, also in Barka.
A separate agreement between the Ministry of Housing and Urban Planning and the Oman Charitable Organization includes more than 2 million rials in support from Rikan to build 71 homes.
Another agreement involving the ministry, the Office of the Governor of South Al Sharqiyah and Al Yusr Charitable Foundation will support the construction of 46 homes in the Al Nahdah Masterplan in Masirah.
Real estate financing
Bank Dhofar signed a 10 million rial financing agreement with Al Ahly Sabbour Oman for the Wadi Zaha project in Sultan Haitham City.
Other financing agreements were signed with Ahli Bank and Ahli Islamic involving real estate developers including Al Nama Real Estate and Talaat Moustafa Group.
The ministry also signed a memorandum of understanding with Hamptons International aimed at supporting the Real Estate Development Services Centre and facilitating investment-related services.
Land and food security investments
The forum also saw the signing of 85 usufruct agreements in the food security sector in partnership with the Ministry of Agriculture, Fisheries and Water Resources. The agreements cover about 26,000 acres and represent investments of more than 53 million rials.
Another 30 usufruct agreements were signed with the Small and Medium Enterprises Development Authority, covering 15,000 square metres and investments exceeding 1.3 million rials.
A further 82 usufruct agreements were signed through the Tatweer Platform, covering more than 93,000 square metres. One of the projects, Al Amerat Hills in Muscat's Al Amerat wilayat, carries an investment value of 78 million rials.
In total, 197 usufruct agreements were signed across the three categories, according to the ministry.
Building standards and urban development
The forum also announced an Earth Architecture Project involving the Ministry of Housing and Urban Planning, the Ministry of Heritage and Tourism and Madayn's Industrial Innovation Academy.
A research and training agreement between the Ministry of Housing and Urban Planning and Sultan Qaboos University will cover technical training for engineers and joint research related to the Oman Building Code.
Representatives of 31 buildings were also recognised for receiving the Urban Compliance Certificate.
The third day included discussions on urban planning, sustainable communities, business districts and urban regeneration, as well as presentations on master plans for Ibri, Salalah, Muscat, Sur, Al Rustaq and Nizwa.
