Oman: $100m deal signed to build beachfront villasby Jumana Abdel-Razzaq on Apr 19, 2017
Al Khalili Group and real estate investment experts Tibiaan Properties are collaborating on a project portfolio of $100m in Oman that will include the construction of the luxury beachfront Azaiba project, due for completion later this year.
A Memorandum of Understanding (MoU) was signed between Al Khalili Group and real estate investment experts Tibiaan Properties on the project portfolio which will include high-end residential, commercial and retail components, according to the Muscat Daily.
The project will include 67 villas and private swimming pools to be completed in Phase 1 by October 2017.
Sheikh Qais al Khalili, chairman of Al Khalili Group said: “We are inspired by the tremendous possibilities of this collaboration, our first build to sell venture.
"The magnitude of the multi-faceted portfolio we have created with Tibiaan, real estate specialists of the highest standing, is a sign of our confidence in the real estate market’s unlocked potential, its strong prospects for growth, and of course Oman’s immense appeal as an investment destination.”