Oman launches phase 1 of $1.3bn mixed-use waterfront project
November 29, 2016
Oman Tourism Development Company (Omran) has announced that it has launched phase one of the $1.3 billion Mina Al Sultan Qaboos Waterfront project.
Phase one of the integrated mixed use waterfront destination is projected to be completed by 2020, and will transform the current commercial Port Sultan Qaboos area into a major tourism-based development, spanning a 64-hectare area, the company said in a statement.
The project will include business and residential zones, a destination mall, six hotels, recreation amenities, tourist attractions, as well as docking facilities for cruise liners and yachts, the statement added.
The development will take place over four separate phases.
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.
"Upon completion it will provide an extraordinary year round tourism hub that is rich in activities, entertainment and experiences, and is accessible to all."
Ahmed bin Nasser Al Mahrizi, Minister of Tourism, added: “The Mina Al Sultan Qaboos Waterfront represents arguably the most exciting and high potential real estate project currently underway in the sultanate of Oman.
"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.”
James Wilson, CEO of Omran, said the Mina Al Sultan Qaboos Waterfront will enhance the historical area of Muttrah which for centuries was the centre of commerce in Muscat and one of the largest sea ports in the region.
The Souq Al Mina will be a core public aspect of the development which will become home for over 80 local SMEs, shops, restaurants and cafes. It is scheduled for completion in the second quarter of 2017.
Omran also announced that an agreement has been reached with the first investor for the project to develop a four star hotel close to the Muttrah fish market.