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Oman official inks usufruct contracts for Dhofar retail projects

Both projects will be developed in the Plain of Ateen area, with each of their usufruct contracts valid for 50 years

Two retail projects will be developed in Dhofar through the recently signed usufruct agreements [representational image].
Two retail projects will be developed in Dhofar through the recently signed usufruct agreements [representational image].

A senior Omani official inked usufruct agreements for two retail projects in Dhofar.

Sayyid Mohammed bin Sultan al-Busaidi, Oman's Minister of State and governor of Dhofar, signed the usufruct contracts for the Ateen Oasis and the Ateen Walk projects. 

READ: Oman's Muscat Bay prepares for handover of homes

The deals were signed with Abdullah bin Humaid al- Ma'amari, chairman of Muscat National Development and Investment (ASAAS).

Under the first agreement, an 84,000m2 complex would be developed, featuring facilities for recreational activities, commercial facilities, restaurants, and gardens. 

A walkway project, spanning 160,000m2 and comprising hotel units, shops, and sports facilities, would be developed under the second agreement. 

Both projects will be developed in the Plain of Ateen area, with each of their usufruct contracts valid for 50 years, state news agency, ONA, reported.

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Construction Week - Issue 751
Oct 13, 2019