$311.6m deal signed for Sur Gate in Oman

A view of the harbour in Sur, Oman. Sur Gate will serve Sur itself as well as the Sharqiya area.

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A $311.6m integrated commercial, leisure, shopping and residential development is to be established at Sur Industrial Estate.

A Memorandum of Understanding for the project has been signed between the Public Establishment for Industrial Estates (PEIE) and Al Sharqiya Real Estate.

Sur Gate has been conceived as a commercial landmark that will serve not only the city of Sur itself, but also the entire Sharqiya area.

"Sur Gate is styled as a major investment, commercial and service project located at Sur Industrial Estate. The project will help attract industrial investments, as well as promote commercial development in the area," said PEIE CEO Hilal bin Hamad al Hasani.

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Set on an area of over 200,000m², the first phase is expected to be operational before the end of the year. Sur Gate includes a hypermarket (11,812m²), shopping mall (58,437m²), hotel and business centre (20,127m²), commercial area (25,670m²), townhouses and an accommodation complex for industrial estate employees (5,859m²).

The project will generate more than 500 job opportunities, of which 70% will be assigned to Omanis, said Al Hasani.

A similar residential, service and entertainment project is currently under implementation at Rusayl Industrial Estate in Muscat.

"In fact, there are plans to initiate similar projects at Sohar Industrial Estate and, in future, at Nizwa and Samayil industrial estates," revealed Al Hasani.