Oman: Mina Al Sultan Qaboos launches $390m Phase 1
Oman Tourism Development Company has launched identity details for the $390m Phase 1 of its Mina Al Sultan Qaboos Waterfront Project
Oman Tourism Development Company (Omran) has launched identity details for the first phase of its Mina Al Sultan Qaboos Waterfront Project.
Phase 1 of the development, which will involve investment of $390m (150.2m), is scheduled to complete by 2020.
Ultimately, the 64ha portside project will feature business and residential zones, a mall, six hotels, recreational amenities, tourist attractions, and docking facilities for cruise liners and yachts.
The development of the wider Mina Al Sultan Qaboos will take place over four phases, according to Omran.
James Wilson, chief executive officer of Omran, commented: “Constructing this project is a challenging proposition, but the success of that endeavour rests on how the project is established from the outset.
“Much of the architectural design will be concerned with providing low-energy, sustainable solutions that draw inspiration from the rich architectural and cultural traditions of the Sultanate of Oman. The development will absolutely respect and complement Oman’s rich historical context.”
Foster and Partners, and Hoehler + alSalmy, have been appointed as the architectural consultants for the project.
In a bid to encourage private sector investment, up to 49% of shares in the waterfront community will be made available for sale. Omran stated that the development has already garnered substantial interest, and that advanced discussion are taking place with several local and international investment companies.
Omran also noted that an agreement has been reached with the project’s first investor, which will develop a four-star hotel in the proximity of Muttrah’s fish market.
During Mina Al Sultan Qaboos’s official launch ceremony, Omran signed a memorandum of understanding (MoU) with Omantel for the delivery of smart city amenities for the project.
HE Dr Ali bin Masoud Al Sunaidy, minister of commerce and industry, and chairman of Omran, said: “Our vision for the Mina Al Sultan Qaboos Waterfront is to create a world-class waterfront development of outstanding beauty and interest that celebrates the maritime history of Muscat and showcases the very best of Omani culture, heritage, and innovation to a global audience.”
HE Ahmed bin Nasser Al Mahrizi, Oman’s Minister of Tourism, and Omran board member, added: “In this spectacular and historic setting, we are confident that it will soon establish itself as a premier destination in Oman, and one of the most high-profile and celebrated tourism infrastructure projects across the GCC.
“Not only will it enrich the lives of the local community, but it will play a pivotal role in the growth of the national tourism industry over the next 20 years and beyond.”