Work on new phase of The Wave to start in June
Muscat development to build city's first ever waterfront apartments
The Wave in Muscat is set to see work on a new phase of the development start next month (June), according to a statement from its developer.
Marsa One will offer Muscat’s first waterfront apartments, it is claimed, with 90% of the units having already been sold since its launch last October.
Construction on the Marsa Village Retail Centre, which started last November, is expected to be completed next year.
Michael Lenarduzzi, CEO of The Wave, Muscat, said, “The start of construction for both projects is the product of last year’s solid financial performance, which saw more than 80 per cent of each of those phases sold. We look forward to enhancing these strong figures with three more residential launches this year which will add to the variety of residences The Wave, Muscat has to offer.”
The Wave began 2013 by commencing the construction of its Siraj and Reehan Gardens phases, which comprises a total of 143 apartments and villas.
According to its developer, Siraj, the apartment phase adjacent to the Marsa Village Retail Centre, has sold 95% of its 40 units since its launch in February. Construction of these apartments is anticipated to be completed in July 2014.
Investors are also said to have bought 85% of the units at Reehan Gardens, on which construction started at the end of February and is projected to be completed by October 2014.
Reehan Gardens comprises of 103 large twin villas and traditional detached villas in three to seven bedroom configurations.