Omani authorities have announced that partnership agreements worth RO333 million ($862 million) have been sealed with leading developers for setting up residential neighbourhoods across the sultanate.

 

These projects, which will come up on a total area of 3.3 million sq m, will feature more than 5,000 new residential units, reported ONA. 

 

The agreements were signed on the sidelines of The 'Third Real Estate Development Conference' held in conjunction with the “18th edition of the Design and Construction Week”, at Oman Convention and Exhibition Centre.

 

It is being organized by the Ministry of Housing and Urban Planning in cooperation with Oman Real Estate Association. 

 

The opening ceremony was held under the auspices of Abdulsalam Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA).

 

Among the key neighbourhood projects being implemented include Al Luban in the Wilayat of Nakhal, Governorate of South Al Batinah; the Majd Neighborhood project in the Wilayat of Sohar, Governorate of North Al Batinah and the Tilal Al Nakheel project in the Wilayat of Khasab.

 

These projects are being developed as part of the Integrated Residential Plans and Neighborhoods Project, stated the ONA report.

 

The event also included the signing of agreements to award integrated residential layouts for units that occupy a total area of 1.3 million sq m, it added.