Foundation work begins on Oman's $130m Barka Marina

Phases 1 and 2 of Barka Marina will open in 2021, with the final stage to open in 2022

The foundation stone has been laid for Oman's Barka Marina project [image: ONA].
The foundation stone has been laid for Oman's Barka Marina project [image: ONA].

Oman has laid the foundation stone for its Barka Marina project, a 11.5ha development that is valued at $130m (OMR50m). As part of the construction programme, deep foundations in commercial areas of the scheme are 70% complete.

Located on a land plot spanning 134ha, the project has a building area of 10.5ha, of which 4ha is leasable space for 450 planned commercial units. Stages 1 and 2 of the project will open by 2021, with the third phase due to be ready in 2022.

Service, commercial, tourist, and entertainment facilities will be developed within Barka Marina.

READ: 86% of UAE and Oman CEOs believe AI will create – not destroy – jobs

Sheikh Hilal bin Said al-Hajri, governor of South Al Batinah, attended the foundation stone ceremony with Dr Hamad bin Said al-Oufi, undersecretary of the Ministry of Agriculture and Fisheries. Nasser bin Salim al-Siyabi, executive vice president of Falcon Investments, also attended the event, according to ONA.

This July, a report by BMI Research stated that Oman’s construction sector would grow faster than its regional counterparts, expanding by 10.4% in 2018 and 11.5% in 2019. This is higher than the regional growth average of around 7% predicted for each year.

However, the Omani construction sector’s output dropped by 12.6% in Q1 2018, despite an increase in the sultanate’s gross domestic product (GDP) for the period. Oman’s GDP grew by 6.5% in Q1 despite output declines posted by the construction and service sectors.

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