Oman’s Al Khonji Group to construct hotel in Duqm
Muscat-headquartered Al Khonji Real Estate and Development (Aqar) plans to build a 180-200 room, three-star category business hotel in Duqm, as part of a large mix-use development
Muscat-headquartered Al Khonji Real Estate and Development (Aqar) plans to build a 180-200 room, three-star category business hotel in Duqm, as part of a large mix-use development.
“Hopefully, within a year, we will start work on the hotel,” Qaboos Bin Abdullah Al Khonji, managing director of Al Khonji Real Estate and Development, was quoted as saying by the Times of Oman newspaper.
The hotel project is the first venture within a massive mixed-use development, which includes two other hotels, residential units, commercial buildings and retail facilities of varying sizes.
A memorandum of understanding (MoU) was already signed with the Special Economic Zone Authority for Duqm (SEZAD) for the first hotel, a business hotel, and there are plans for two other hotels.
All these developments are expected to boost overall business activities in Duqm, Oman’s newest upcoming industrial zone, and will also attract more business travellers.
The proposed residential units of the Al Khonji group, which is a long-term plan, will be a mix of villas and apartments.
The total expected investment for the entire development of Al Khonji group in Duqm for a period of 15 to 20 years, is around $780m (OMR300m) while the investment for the first three-star hotel is estimated at $26-31m (OMR10-12 m) added Al Khonji.
“Our business plan is for 15 to 20 years, but it will depend on growth in demand and the performance of the economy. We are working on developing hotels, residential buildings, shopping centres and many other facilities,” noted Al Khonji.
The total land area is around 66ha and the entire development is planned in multiple phases.