Interior &Buildex 2009 Market Report

MARKET REPORT 1

MARKETREPORT

MAY 2006 - JULY 2008

OMANEXPO LLC

Compiled by:

P.O. Box 20, Code 117, Wadi Kabir, Sultanate of OmanTel. No. +968-24660124 Fax No. +968-24660125

E-mail: [email protected] Website: www.interiorsbuildex.com

The Wave, Muscat The Blue City

Muscat Hills Barr Al Jissah Resort & Spa

16-18 March 2009Oman International Exhibition Centre

Muscat, Sultanate of Oman

Interiors & Buildex 2009

2 INTERIORS & BUILDEX 2009

Table of Contents

Major Development Projects in Oman 05

Complete News on Oman’sBuilding & Construction Industry

WJ Towell launches Talat Al Koudh, a 90-villa project 07Kuwait’s Action Hotels to set up budget property in Muscat 07Galfar wins RO 25 million Al Amerat-Bausher road dualisation contract 08Minister of Tourism unveils show villas at The Wave 09Omran starts onsite works in Musannah for Asian Beach Games 09Alargan Towell launches Al Qurm Gardens real estate project 10Sadolin Paints launches two new decorative concepts 11Nine firms apply to prequalify for Ras al Hadd airport contracts 11The Wave signs deal for Fairmont hotel 12Super-luxury Raffles hotel set for Oman 13Al Balushi Investments launches Mayar Al-Khoudh home project 13Work on Salam Yiti project progresses 14Port of Salalah to invest $112m for superstructure 15$1bn VALE project ranks among top 10 steel-based ventures in Gulf 15Real estate deals worth RO1.61 billion concluded in 2007 16New cement giant plans to enter Oman market 17Development boom as 36 pacts worth RO205.5 million signed in a day 17Al Madina A’Zarqa drives economic growth 19Daewoo to develop tourism in Duqm 20Majan Gulf launches sales of ‘Springs Compound’ Homes in Sohar 20Al Madina A’Zarqa project on course 21Real estate, luxury hotel project launched 21Muriya starts signing of Phase 1 contracts 22W.J. Towell, 3 Indian companies to team up for real estate development 23Suhail Bahwan ventures into property market 23Al Nabri Global to set up RO10 million hotel and resort 24The Wave’s Ocean View project an instant hit 24Al Haitham tees off ‘Muscat Hills’ project 25Gulf construction feels heat of supply shortages 2631 pacts for 575 housing units in Dhofar signed 26Bank Muscat to build RO36m head office in Seeb 27Rising steel prices hit construction 27Gulf Stone Company opens factory in Sohar 28Barka Resorts joins RCI network 28Accor Hospitality plans Sofitel hotel in Oman 29Consolidated Contractors wins multimillion dollar Omagine contract 29Blue City kicks off first phase of development 30Leading sanitary ware firm to tap tourism boom in the sultanate 31

MARKET REPORT 3

Jebel Sifah, Salalah Beach projects unveiled 32Foster+Partners to design The Blue City 32Muriya to launch property development projects 33The Wave sells 100 properties in just a few hours 33Oman Cement Co. to sign pact for $162 million expansion 34Muriya projects in Oman worth $850 million underway 34Phase I of Barka Tourism Resort project to begin soon 35$3-billion expansion plan for Seeb, Salalah airports 35Multi-billion project Blue City announces development timetable 36The Wave Muscat pioneers freehold ownership in the sultanate 37International firms line up for Wadi Adai dam project 37Eqarat.com launches innovative real-estate services 38Leading contracting firms set sights on Sohar Port interchange project 39Construction progressing at The Wave at a fast pace 39Safeer group opens its ninth hotel 40Development Agreement for Omagine Project to be inked soon 41$2-billion integrated resort to come up at Yenkit 41Many mega housing, water projects implemented for citizens 42Real estate deals top RO 2.5 bn in 17 months, says ministry report 43RO 250m Al Batinah coastal road work to begin next year 44Prices, shortage of materials impede contracting sector 44Deal signed for $500m recreational project 45Strong and sturdy withstood the cyclone fury 46Pact inked to develop tourism projects in Al Seifa, Salalah 4650,250 houses and 4,557 establishments affected 47Shortage of cement halts many projects 48RO76 million okayed to rebuild cyclone-affected infrastructure 48Nizwa Industrial Estate witnesses investment boom 49Third Crowne Plaza hotel to be located in Sohar 49Oman Ceramics opens new showroom in Wadi Kabir 50Yiti resort first phase may go on stream by mid-2009 50The Wave signs pact with Kempinski 51The Wave begins construction 52Golden Tulip Nizwa plans expansion 53Sharq Sohar’s Steel Melt Shop to commence operations in August 54ACP launches new products 54New projects will ease steel prices 55Shadeed Iron & Steel to boost capacity to 3.5 mtpy by 2010-11 56Steel summit to highlight Oman’s emergence as a steel producing nation 57Fairmont joins The Wave 57Cement, wood prices up 58Coral International Hotel begins operations in Oman 58The Wave awards RO 100m contracts 59Sheraton Oman closed for $25m renovation 59Muscat set for a real estate boom 60


Second phase of The Wave’s sales to begin on December 16 61Al Madina Real Estate Company launches major tourism project 61Finance deal signed for major real estate project in Sohar 62Oman: One brick at a time 63Safeer Group to set up mega mall in Sohar 63Carrier launches super quiet air-conditioner 64Development of Duqm Port and drydock to kick off 65Oasis Living Group to cash in home decor, furniture market 65Oman fastest growing market for air conditioners: Sato 66Physical activity of Blue City project to begin in November 67MCC to build first-ever multi-storied car park 67Oasis Lifestyle opens new shop 68Development in overdrive 68Galfar bags two major contracts from PDO 69IECC well-positioned to tap construction boom in Oman and Gulf region 70Mirbat tourism resort to open in early 2007 71Six Omani firms vie for Seeb fish harbour contract 72Development drive in Oman hits top gear 72Beautifying the capital 73Health projects in North Batinah 74EBS targets construction projects in Oman 75Al Hassan Electricals opens new showroom 75Plans for $1 billion Yiti and Shinas resorts firming up 76ADPi bags Seeb and Salalah airport contracts 76Qatabi lists new tourism projects for Dhofar governorate 77Majan Gulf, IGDC ink RO56 million real estate project deal 77Deal for RO43-million dam signed 78OTDC, Saraya to set up mega tourism venture 79Sohar Aluminium, Dawood Contracting sign agreement 80The Wave first sales release nets over $100m 80Oman, Egypt to set up $600 m tourim venture 81

MARKET REPORT 5

Major DevelopmentProjects in Oman

Al Amerat and Quriyat highway upgrade Muscat Municipality 180 ExecutionAl Inshirah Boutique Hotel in Muscat Oman Tourism Dev’t Co. (OTDC) 50 StudyAl Madina A’Zarqa (Blue City) - Phase 1 Al Sawadi Investment & Tourism 1900 ExecutionAl Musanaah air base expansion Ministry of Defence 70 ExecutionBarAl Jissah Residential Complex & Market Zubair Corporation 50 ExecutionConcert Theatre Muscat project Ministry of Palace Affairs 250 ExecutionDakhiliyah Central Prison in Sumail Town Oman Govemment 140 ExecutionDubai Resort & Spa - Shinas Omani Resort Sama Dubai 1900 DesignSalam Yiti Resort - marine works package Sama Dubai 50 BiddingDuqm Beach Hotel OTDC 300 DesignDuqm Port - marine works Ministry of National Economy 490 ExecutionDuqm Port - ship repair yard and dry dock Ministry of National Economy 200 BiddingGreen Acres in Muscat Radiance International 500 PlannedHasik-Shuwaymiyah Highway MOTC 178 ExecutionHayoot Beach Hotel Resort - Phase 1 Ministry of Tourism 60 BiddingHotels Development in Muscat - Hotel 1 OTDC 650 StudyHotels Development in Muscat - Hotel 2 OTDC 650 StudyHotels Development in Muscat - Hotel 3 OTDC 650 StudyHotels Development in Muscat - Hotel 4 OTDC 650 StudyIndustrial Estate in Sohar - infrastructure PEIE 65 BiddingInterContinental Muscat hotel expansion OTDC 800 Design

Name of Project Owner/Developer Cost (inmillion $) Status

Al Madina A’Zarqaor the Blue City

Salam YitiResort

Al Madina A’Zarqaor the Blue City


Jabal Al Akhadar Hotel OTDC 150 PlannedKhasab Family Resort in Musandam Majan Gulf Properties 780 DesignMajan Logistic City in Sohar Majan Gulf Properties 200 DesignMuscat Hills - golf course - villas Ministry of Tourism 110 ExecutionMuscat Southern Expressway MOTC 350 ExecutionNew Sohar Airport - passenger terminal MOTC 300 DesignOmagine Project Alfa International Holdings Corp. 1600 ExecutionOman Convention and Exhibition Centre OTDC 500 PlannedPort Sultan Qaboos expansion in Muscat Port Services Corporation 400 BiddingResidential Township in Sohar Saud Bahwan Group 120 ExecutionSalalah Complex United Real Estate Company 63 DesignSalalah domestic roads MOTC 167 ExecutionSalalah Port expansion - container berths MOTC 85 ExecutionSalalah Port expansion - marine works MOTC 200 ExecutionSalalah-Thumrait Road Dualisation Project MOTC 130 ExecutionSeeb Airport / Salalah Airport Development MOTC 1200 BiddingSoharAluminium Smelter - residential units Sohar Aluminium Company 200 ExecutionSohar Buraimi Road Expansion MOTC 114 ExecutionSohar Health City World Health Organisation 300 PlannedSohar Port and Industrial Area - Phase 3 MOTC 243 ExecutionSohar residential and commercial project Majan Gulf Properties 172 ExecutionSouthern Expressway road project Muscat Municipality 342 ExecutionThe Wave, Muscat - infrastructure The Wave, Muscat 100 ExecutionThe Wave - Phase 1 - 191 townhouses The Wave, Muscat 60 ExecutionThe Wave - Phase 1- 303 villas The Wave, Muscat 100 ExecutionThe Wave - Phase 1- marina The Wave, Muscat 100 ExecutionThe Wave, Muscat - Phase 2 The Wave, Muscat 1000 DesignThe Wave - Phase 2 - Fairmont Hotel The Wave, Muscat 300 PlannedThe Wave - Phase 2 - Kempinski Hotel The Wave, Muscat 300 Planned

Name of Project Owner/Developer Cost (inmillion $) Status

Muscat Hills

The Wave,Muscat

Sohar residential andcommercial project

MARKET REPORT 7

Keeping in mind the need forquality housing for young

Omanis in Muscat, WJ Towell haslaunched “Talat Al Koudh“, a 90villa project at Al Khoudh.

These housing units have been de-signed and developed keeping inmind the Omani lifestyle which cen-ters on the family . The total valueof the project is valued at $50 millionand marks a series of launches thatare due in the next few months.

‘WJ Towell is an established andtrusted name in property arena.

Towell will soon be launching vari-ous properties in Madinat SultanQaboos, Madinat Al Illam, Qurumand Al Khoudh to name a few.

These new projects would belaunched in the coming three to fourmonths”, says Ivor Braganza, CEO –Towell Property & Construction. Hewent on to add “it is our intention tocreate a good living experience in allour projects with a focus on design,landscaping, a safe environmentcomplimented with a good quality ofconstruction. The group is poisedto deliver this with an integrated ap-proach to property development bya strong backward integration bypartnering Architects – Talati andPatnaki, Continental sourcing, GulfProperties, Home Essentials etc.

WJ TWJ TWJ TWJ TWJ Tooooowwwwwell launcell launcell launcell launcell launches Thes Thes Thes Thes Talat Al Kalat Al Kalat Al Kalat Al Kalat Al Koudh,oudh,oudh,oudh,oudh,a 90-villa projecta 90-villa projecta 90-villa projecta 90-villa projecta 90-villa project

Source: Oman Tribune - July 30, 2008

which brings in a unique strengththat differentiates us as developers.

The Group also has many compa-nies in the construction sector thatsupports the property developmentbusiness namely building materials,paints and in electro mechanical.

The project would be exclusivelymarketed by Gulf Property world,who are among the leading propertyagents in the country. Says MikeHarris, CEO of Gulf Property World:“We are extremely proud to be asso-ciated with W.J. Towell in the mar-keting of Talat Al Khoudh. Theproject is not only well located butalso well suited to the Omani lifestyle. The opening response to theproject has been overwhelming. It isassured that these three storiedunits will not only be a sought afterhome but will also prove to be an ex-cellent investment.”

The project will be constructed byW.J.T Construction, who is amongthe reputed Construction Companythat has completed many projects inOman. The project would begin inAugust 2008 and be completed bythe last quarter of 2009.

“The concept design of Talat AlKhoudh was done by Maya Over-seas, a well known Consultancy firmfrom Italy who are also our joint

venture partners. We had also spo-ken to and got feedback from manyOmanis while designing this project.The design theme is a combinationof Mediterranean and Omani influ-ences, which are visible in the qual-ity of architecture, craftsmanshipand the finishes used” says SurinaaTriveen, Business Head – DesignDivision of W. J. Towell.

The project is set on a 28,000m2plot, with built up areas of each unitranging from 308m2 to 421m2. Theunits are of two types, both com-prising of spacious living and din-ing rooms leading to open court-yards which are ideally suited forprivate outdoor gatherings. Theseare 4 bedroom units with wellthought of utility areas and storage.Thoughtful, spacious floor plans aredesigned for active family life, whileneutral, quality finishes. In addition,each unit has dedicated parkingspace for 2 cars.

What sets Talat Al Khoud apartfrom standard offerings include itsconvenient location, within easy ac-cess of Muscat City Centre, Univer-sity Hospital and Muscat Interna-tional Airport. These villas providecomfort and style, both inside andout. A dedicated website has beencreated for the project that carries alldetails on the property:www.talatalkhoudh.com

KKKKKuwuwuwuwuwait’s Aait’s Aait’s Aait’s Aait’s Action Hoction Hoction Hoction Hoction Hotttttels tels tels tels tels to seo seo seo seo set upt upt upt upt upbudgebudgebudgebudgebudget prt prt prt prt properoperoperoperoperty in Muscatty in Muscatty in Muscatty in Muscatty in Muscat

Source: Oman Observer - July 22, 2008

The Kuwait-based Action Hotelsis developing a new hotel prop-

erty under the well-known brand‘Ibis’. The 170-room Ibis Muscatwill be located off Sultan Qaboos

Street in Al Khuwair, within distanceof the main business hub, and theministries and embassies of the Sul-tanate. It will further offer guests all-day dining restaurants, meeting

rooms, a state-of-the art fitness cen-tre and a swimming pool. The hotelwill be operational in July 2009.Ibis, which is part of the AccorGroup, is Europe’s leading budget


hotel network and is designed tomeet the needs and expectations ofa broad spectrum of customers whotravel regularly on business or lei-sure. With an adapted service offerto budget prices, Ibis has over 800hotels worldwide and are alwaysconveniently located in businessdistricts, tourist spots and near air-ports.

Action Hotels is one of the fastestgrowing hotel development compa-nies in the Middle East. The com-pany specialises in the developmentof 3- and 4-star hotels in partnershipwith global hotel operators at loca-tions including Kuwait, Jordan,Bahrain, Oman, the UAE and Aus-tralia. Action Hotels has completedtwo hotels and is engaged in the de-velopment of 11 more, providingover 2,500 rooms in the Middle Eastand Australia.

Plans for the opening of the new

Muscat property were announcedby Action Hotels at the opening ofits first partnered property outsidethe GCC in Melbourne, Australia.The property was completed in part-nership with Ibis and Accor Hospi-tality. The new 155-room Ibis GlenWaverley was officially opened inthe presence of Shaikh MubarakAbdulla al Mubarak al Sabah, Vice-Chairman of Kuwait based ActionGroup Holdings, the parent com-pany of Action Hotels and ActionGroup Australia, the Victorian StateMinister of Tourism and SpecialEvents Hon Tim Holding and SimonMcGrath, Accor Hospitality’s Vice-President for Australia.

The development is the first of anumber of hotel projects that ActionHotels are currently planning for theAustralian market including otherprojects for Melbourne and the con-struction of a 314-room hotel indowntown Brisbane. Ibis Glen

Waverley is the second Ibis projectto be completed by Action Hotelsthis year following the recent open-ing of the Ibis Salmiya in Kuwait.

The group also announced another10 hotels under development, pre-dominantly in the Middle East.Action Hotels has established apartnership with the global AccorGroup to develop hotel projects ini-tially in the Middle East and Austra-lia and includes the construction ofboth Ibis and Novotel projects.

Speaking at the official opening cer-emony, McGrath said, “The growthof Ibis in the Middle East owes agreat deal to the commitment andfaith in the brand shown by ShaikhMubarak’s Action Group. His com-pany has been responsible for de-veloping seven Ibis hotels in Ku-wait, Jordan, Bahrain, Oman and theUAE, as well as the development ofa new Novotel in Kuwait.”

Leading Omani construction firmGalfar Engineering & Contract-

ing has been awarded a contract byMuscat Municipality to dualise theAl Amerat-Bausher Road at a costof RO 25 million.

As part of its contract, Galfar willdualise a 14-kilometre stretch de-signed to enable smoother trafficflows between the rapidlyurbanising wilayats of Al Ameratand Bausher,. Of this dualised dis-tance, a six-kilometre stretch will bebuilt along a completely new align-ment. Adding to the overall cost ofthe contract is the significantamount of rock excavation andblasting that the contractor willhave to undertake as part of thedualisation project.

Additionally, the contractor will

build two pre-stressed reinforcedconcrete wadi bridges of a totalspan length of around 300 metres.Wadi bridges are increasingly thenorm where new roads intersectfast-flowing wadis, thereby ensur-ing that such roads are essentiallyflood-proof. The dualisation projectrepresents the third phase of a planby Muscat Municipality to expandroad communications between thetwo wilayats. In the first phase, well-known firm Consolidated Contrac-tors Company (CCC) built an initialtwo-kilometre stretch through a rug-ged swathe of hills to open up ac-cess between Bausher and AlAmerat.

Following up on CCC’s work, Galfaradded another seven kilomeres tothis road link in the second phase ofthe project. That contract, com-

pleted in 2006, opened up a singlecarriageway link between the twowilayats. Following a strategic de-sign review, Muscat Municipalityfinalised plans for the dualisation ofthe road to allow for smoother trafficflows between the wilayats.

According to officials, the dualisedroad will also help open up new ar-eas of Bausher to development. Thehills around Bausher overlook muchof the city of Muscat and the Gulf ofOman beyond, making them attrac-tive areas for tourism-related invest-ment. Six other local and interna-tional construction firms bid for thedualisation contract. They areNagarjuna Construction, ShanfariTrading, Sarooj Construction, CCC,Desert Line, and Afcons. Theproject is due to completed in thefirst quarter of 2010.

Galfar wins RO 25 million Al Amerat-BausherGalfar wins RO 25 million Al Amerat-BausherGalfar wins RO 25 million Al Amerat-BausherGalfar wins RO 25 million Al Amerat-BausherGalfar wins RO 25 million Al Amerat-Bausherroad dualisation contractroad dualisation contractroad dualisation contractroad dualisation contractroad dualisation contract


MARKET REPORT 9

The Wave Muscat’s luxuriousshow villas were officially un-

veiled at a ribbon cutting ceremonyheld under the auspices of Dr Rajhabint Abdulameer bin Ali, Minister ofTourism, and in the presence ofAbdullah bin Abbas bin Ahmed,Chairman of Board of Directors ofThe Wave Muscat, and Dr NoelGuckian, British Ambassador to theSultanate, at its sales centre in AlHail, Seeb, yesterday.

It was noted that the new villas,one each from architects, Tombazis,Santini and Triad, combine a mod-ernist approach in their treatmentwith a distinct Omani character. Insome ways it is correct to identifythem as a modern interpretation ofOmani architecture, set in a well de-signed environment, with richamenities and services of interna-tional standards.

MinistMinistMinistMinistMinister of Ter of Ter of Ter of Ter of Tourism unourism unourism unourism unourism unvvvvveilseilseilseilseilsshoshoshoshoshow villas at The Ww villas at The Ww villas at The Ww villas at The Ww villas at The Waaaaavvvvveeeee


The three villas are, however, verydistinct in their layouts, internalplay of spaces and their inter-rela-tionships. The event celebrated an-other milestone for The Wave asdignitaries and other guests weretaken for a tour of the new show vil-las, located adjacent to the salescentre.

The highlight of the event wasaward-winning UK celebrity chef,Antony Worrall Thompson whocame to Oman especially for thisdemonstration. He has entertainedfood lovers in the UK for the past 27years and has achieved a greatreputation in this field. In a livecooking demonstration he temptedthe culinary taste buds of The WaveMuscat’s customers at a cookingsession organised at the kitchen ofthe Santini show villa at The Wave,Muscat.

Nick Smith, Chief Executive Officer,The Wave, Muscat said, “With theopening of our show villas we setanother example of The Wave,Muscat’s commitment to deliverluxurious living standards to ourcustomers. The Wave will receivethe highest quality kitchens withinits properties, kitchens that are in-deed fit for a Meilleu Ovrier deGrande Bretagne (MOGB) chef.

Smith further added that “TheWave, Muscat is pushing theboundaries of what has previouslybeen delivered within Oman and thisis an exciting task that carries with ita great deal of responsibility. We aredetermined to exceed the expecta-tions of our home buyers and hopethe show villas will provide anotherwindow for all to see what TheWave, Muscat has to offer in termsof fine living”.

Omran starOmran starOmran starOmran starOmran starts onsitts onsitts onsitts onsitts onsite we we we we worororororks inks inks inks inks inMusannah for Asian Beach GamesMusannah for Asian Beach GamesMusannah for Asian Beach GamesMusannah for Asian Beach GamesMusannah for Asian Beach Games

Source: Oman Observer - June 24, 2008

Onsite works for Oman’s firstever world-class ‘sports vil-

lage’ in Musannah is under way forthe 2nd Asian Beach Games Muscat2010. Following a spectacular un-veiling of the games logo last weekby Tourism Minister Dr Rajha bintAbdulameer bin Ali, a mixed use de-velopment custom built to hostsuch a prestigious event is fullsteam ahead led by Omran. Onlytwo years away, the countdown hasstarted with a project completiondate scheduled for June 2010.

The 1 million square metre site atWudam al Sahil will comprise a mix-ture of facilities such as an Athletes

Village dedicated entirely to thesportsmen and sportswomen of theevent, hotels for officials, media andguests, an administration buildingand a state-of-the-art Media Centrein addition to special features forthe public’s convenience includingrestaurants and recreational facili-ties. Dedicated playing pitches withtemporary shaded grandstands toaccommodate around 300 spectatorsfor preliminary events and up to5,000 spectators for the final eventwill be built along with a purposebuilt marina for docking sail boats.

Wael A al Lawati, Omran CEO, said,“We have commissioned some of

the most reputable internationalfirms to understand the complexitiesand requirements of the AsianBeach Games project and are inregular liaison with a variety ofsports associations specialising inbeach sports for the development ofthe sports village.” He added, “Theproject is running on a challengingschedule and the Government’sstrong support for the Games hasbeen fundamental. Every detail isbeing re-checked to ensure the de-livery of a quality product.”

The main entry point to the site willbe elevated overlooking the ArabianSea to provide dramatic views. Spe-


cial attention is given to protectingthe environment through extensivesurveying where the sustainabilityof the infrastructure has been con-ceived and designed to later becomea major sports, leisure and tourismresort providing significant benefitsto the national and local economy.The Asian Beach Games is a multi-sport event held every two years

among athletes representing coun-tries from Asia.

The first Asian Beach Games areless than four months away and willbe hosted by the Olympic Councilof Asia in Bali, Indonesia, in Octo-ber of this year. Over 10,000 ath-letes, officials, media and volunteersfrom 45 countries are expected to

gather in Muscat for the sportingevent in 2010, where athletes willcompete in 11 beach sports disci-plines. The 2nd Asian Beach GamesMuscat 2010 will position the Sul-tanate of Oman as a magnet for pre-mium sports tourism, instilling na-tional pride while attaining interna-tional prestige and recognitionthrough beach sports.

Alargan TAlargan TAlargan TAlargan TAlargan Tooooowwwwwell launcell launcell launcell launcell launchesheshesheshesAl Qurm Gardens real estate projectAl Qurm Gardens real estate projectAl Qurm Gardens real estate projectAl Qurm Gardens real estate projectAl Qurm Gardens real estate project


Alargan Towell Investment Cohas unveiled a residential cum

commercial real estate project inQurum, opposite the Qurum NaturalPark. Al-Qurm Gardens, recipient ofthe CNBC Arabian Property Award2007 for the best architectural de-sign, covers a total built-up area of24,682 square metres. “Inspired bythe traditional architectural style ofOman, Al-Qurm Gardens offers a to-tal harmony between heritage andmodernity to satisfy the needs ofdiscerning Omani nationals,” saidAli Hassan Moosa, General Man-ager, Alargan Towell Investment. Es-timated to cost RO 22 million, theresidential complex will be ready by2010.

Construction at the site has startedand 18 units are almost complete.The 40 premium residential units of-fered are in seven unique designs,and have built-up area varying be-tween 259 to 350 sq metres with plotarea of 194-284 sq metres. The unitsboast exquisite finishes, duct-typesplit units, dedicated car-park withelectronic gate, fitted kitchens,branded appliances, audio-video se-curity system, and sound system.

Raid Maqbool Ali Sultan, AssistantBusiness Development Manager,said Al-Qurm Gardens complex isflanked by two gateways at thesouthern and northern edges of theproject, making the complex an ex-clusive community project in the

downtown area. The rental and of-fice space is laid out at the southernand western ends of the complex.

The units come in various designsthat shape the skyline of theneighbourhood in a way reminiscentof traditional Omani villages. Theyare characterised by a unique con-struction technique: peripheralshear walls and slabs, articulatedthrough a palette of plug-in ele-ments consisting of galvanised steelplanters, wooden pergolas andtents. The party walls between eachunit disappear as the elevation ofthese residences consists of differ-ent pavilion-like structures, breakingdown the scale of the elevation. Thetwo housing rows result in an in-ward slope that reinforces the intro-version of the project, while expand-ing the visual horizon on the centralroad.

In view of the prime location, theunique design, the premium-qualityconstruction and amenities, thisproject targets the higher end mar-ket. Established in 2003, the com-pany has now broadened its atten-tion by planning and developingprojects for the up-market segment.“Our projects contribute to alleviat-ing the accommodation shortagescurrently witnessed,” said VilasKelshikar, Senior Vice-President,Alargan Towell. He said the com-pany is evolving as a major real es-tate developer with a clutch of up-

coming projects including Al-Khairan Resort and beach-frontBarka Resort estimated at RO 500million.

In 1973, W J Towell & Co envi-sioned and developed Madinat Sul-tan Qaboos — one of the finest ad-dresses in Muscat. Now, 35 yearsdown the line, the Group is again setto make a major contribution toOman’s burgeoning real estate andtourism sector. Alargan Towell’sachievements in real estate andproperty development have earnedit several industry awards such asthe Best Residential DeveloperAward — 2005, by EUROMONEY,and the Best Developer in Oman —2006 by Islamic Conference Group(ICG) in addition to the CNBCArabia Property Award 2007 for theBest Architectural Design.

The projects are being implementedthrough a joint venture, Al AlarganTowell Investment Co that wasformed in 2003, in partnership withAlargan International Real EstateCompany, the Kuwait-based real es-tate development company withfootprints in the UAE, Saudi Arabia,Bahrain, Egypt and Lebanon. Thejoint venture had an initial mandateto develop middle-income real estatehousing solutions in Oman. Its firstproject was 72 three-and-four-bed-room residential villas in AlMawaleh, in the vicinity of the Mus-cat City Centre.

MARKET REPORT 11

Subsequently, the company initiatedanother project of 100 townhousesat Al Hail, which is nearing comple-tion. “Oman has witnessed unparal-

leled growth as an emerging real es-tate destination for both individualand institutional investors, owing tothe attractive incentives it offers for

property developments, in additionto the government’s privatisationinitiatives and the liberalisation offoreign investment parameters.

Sadolin Paints launches twoSadolin Paints launches twoSadolin Paints launches twoSadolin Paints launches twoSadolin Paints launches twonew decorative conceptsnew decorative conceptsnew decorative conceptsnew decorative conceptsnew decorative concepts


Celebrating 30 years of leader-ship as the largest paints manu-

facturing company in Oman, SadolinPaints (Oman) Ltd recently held aDealers Meet to announce thelaunch of its ‘Sadolin White Collec-tion’ and ‘Armour Water BasedGloss Emulsions’.

The Sadolin White Collection com-prises 36 different and vibrantshades of white that can be usedboth for interiors and exteriors.These “Whites” are offered ascolour collections in the premiumrange and available through 88 Plus,Sadomastic Silk and Armour 5/10/20Gloss Emulsions.

“These can be teamed with any ofthe other ranges including Flair Inte-rior Décor Range, Music and Wild-flower Shade collections to createyour own unique space,” saidAnimesh Biswas, Marketing Man-ager, Sadolin Paints (Oman) Ltd.

The “Armour range” is a classiccase of ‘designed for durability’. An

eco-friendly paint that comes in fivedifferent gloss levels of 5/10/20/40/80, Armour Gloss Emulsions are de-signed to meet individual choice offinishes and for different needs.

The Armour range is designed to of-fer a life of over 7 years and has ex-cellent washability. It can be usedon wood and metal surfaces as well.The key feature that differentiatesArmour from other paints is that 5different gloss levels are availablethrough water based system.

Speaking on the occasion, M MKhan, General Manager, Sadolinsaid, “Our strategy over the yearshas been to continuously offer arange of products with distinct fea-tures and benefits so that consum-ers can make an informed choice.Today we are proud to be the first tolaunch the new range of 36 whitesand the water based gloss emul-sions.”

He went on to say, “Oman is wit-nessing an immense economic

growth and excellent market condi-tions are predicted for the next fiveyears. With the recent move of shift-ing our headquarters to Rusayl andnow with our single plant operation,we have increased our productioncapacity to over 20 million litres. Weare now well equipped to cater tothe increased demand as well as thechange in market trends.”

The two new ranges will be avail-able at all Sadolin Colour Point out-lets starting this month. Sadolin hasthe largest network of dealers inOman, including branches in Soharand Nizwa. Sadolin Paints also hasbranches in Bahrain, Qatar andDubai. Sadolin Paints manufacturesthe entire range of decorative coat-ings and furniture lacquers under atechnical licensing agreement withAzko Nobel, the number 1 paintcompany in the world. SadolinPaints (Oman) Ltd is certified forISO9001, ISO14001 and OHSAS18001. All emulsions are truly lowodour and meet EU norms for inter-nal coatings.

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Nine construction firms havesignalled their intent to partici-

pate in a competitive governmenttender for the development of an air-port at Ras al Hadd in the Sharqiyahregion. The new airport is seen askey to the Omani government’s goalof positioning Ras al Hadd as a

world-class eco-tourism destination,centring largely on its turtle breed-ing beaches, nature reserve and po-tentially rich archaeological heri-tage. The greenfield facility, targetedfor launch in the fourth quarter of2010, is part of an ambitious tourismmaster plan that includes the devel-

opment of a number of eco-tourismresorts along the scenic Gulf ofOman coast.

Several international firms are alsoamong those applying to prequalifyfor construction contracts linked tothe development of airside and ter-


minal facilities as part of the Ras alHadd airport project. The line-up ofparties responding by last week’sprequalification deadline are DesertLine Projects, Samwhan Corpora-tion, Hanjin Heavy Industries &Construction, Larsen & Toubro(Oman), Strabag Oman, BahwanContracting, Galfar Engineering,Alsim Alarko Sanayi and ShanfariTrading.

The Ministry of Transport and Com-munications has envisaged devel-opment of the airport in two pack-ages. One package, covering theairside facilities, entails the con-struction of a four-kilometre-longand 75-metre-wide runway, as wellas taxiway, apron and car parking.

The other package provides for theconstruction of the passenger termi-nal building, concourse and AirTraffic Control (ATC) tower, as wellas the provision of boardingbridges, baggage handling and se-curity systems and fire-fighting fa-cilities.

Built to Code F design standards ofthe International Civil AviationOrganisation (ICAO), the airport willbe suitable for some of the largestaircraft in operation today, includingthe Airbus Superjumbo A380. Au-thorities are also pursuing develop-ment of another airport project atDuqm on the southeastern edge ofthe Sultanate. The greenfield facilitywill be constructed in three phases.

In the first phase of the project, alsoknown as Package 1, the selectedcontractor will develop access facili-ties and build utilities that serve theairport during the operational phase.Package 2 covers the constructionof the runways, while the terminaland associated facilities will be builtin Package 3.

The new airport is expected to spurDuqm’s development into a world-scale industrial, petrochemical andcommercial hub with a major Portand Dry Dock project at its centre.When operational in the year 2012,Duqm International Airport is alsoexpected to handle some of the larg-est aircraft in service today, as wellas a range of heavy lift aircraft.

Fairmont Hotels & Resorts, a glo-bal hotel company, has signed a

deal with The Wave, Muscat to op-erate and manage a luxury Fairmontbranded property at The Wave. Anagreement to this effect was signedon Thursday by Eng Abdulla binAbbas bin Ahmed, Chairman of theBoard of Directors at The Wave,and David Walmsley, Vice President,Development Europe, Africa andMiddle East, Fairmont Hotels andResorts.

Fairmont The Wave, Muscat will bea 5-star luxury resort hotel, and willbenefit from being positioned nextto the Greg Norman signature18hole Links golf course. The accom-modation will comprise approxi-mately 280 rooms, supported withbranded residential offerings, leisureand conference facilities togetherwith a luxurious Willow Stream Spa.

The hotel’s location within the de-velopment will allow guests andvisitors to enjoy its extensivebeachfront and beautifully land-scaped gardens. Surrounded onthree aspects by superb waterfrontsand overlooking landscaped park

The WThe WThe WThe WThe Waaaaavvvvve signs deal fe signs deal fe signs deal fe signs deal fe signs deal for For For For For Fairmont hoairmont hoairmont hoairmont hoairmont hotttttelelelelelSource: Oman Observer - June 14, 2008

areas, the Hotel can be accessed di-rectly from the 18th NovemberStreet.

The signing of the Agreement com-bines the strength of Fairmont’stechnical team with The Wave,Muscat’s Hotel team and togetherthey will use all their expertise to en-sure delivery of a world class prod-uct synonymous with The Wave,Muscat and Fairmont brands.

Nick Smith, CEO, The Wave, Mus-cat said “Fairmont are the perfectpartner for this project. As a leadingglobal luxury hotel managementcompany, with over a century of ex-perience, they bring a new and excit-ing dimension to the world of Omanihospitality. The facilities they pro-vide are second to none and this al-liance will play an integral role in en-hancing the lives of our home own-ers and also the people of Muscat.”

David Walmsley of Fairmont RafflesHotels International commented:“We are delighted to take this nextsignificant step towards bringingFairmont Hotels & Resorts to Oman.This will be our first development

within the Sultanate, following ourexisting offerings in the region suchas Fairmont Dubai, Cairo’s FairmontTowers, Heliopolis and FairmontHeliopolis, and demonstrates ourcommitment to working with keypartners to develop world-classproperties and to build the brand’sglobal strength.”

Expected to take approximately 3-4years to complete, construction ofFairmont The Wave, Muscat willprovide an opportunity for the localworkforce across a wide range ofskill sets and will not only enhancethe lives of those who will use thefacilities but also offer a place to ex-pand knowledge and experiencewithin this specialised constructioncategory.

Fairmont is owned by FairmontRaffles Hotels International, a lead-ing global hotel company with 90hotels worldwide under the Raffles,Fairmont and Swissôtel brands. TheWave, Muscat, is a joint venture be-tween Oman’s Waterfront Invest-ments, National Investment FundsCompany and UAE based Majid AlFuttaim Group.

MARKET REPORT 13

Oman will soon boast its ownsuper-luxury hotel property un-

der the world-renowned Rafflesbrand, underlining the country’sgrowing investment appeal at thehigh-end of the hospitality market.Plans for the development of theRaffles branded property, whichpromises to set a new benchmark inluxury in the Sultanate, are currentlybeing finalised, according to a topexecutive of the Singapore basedhospitality chain. Last year, thecompany launched its first propertyin the Middle East — Raffles Dubai— which now competes with theiconic Burj Al Arab for top billing asthe UAE’s premier hotel.

“We are expanding the Rafflesbrand into Oman,” said J DavidWalmsley, Vice-President — Devel-opment (Europe, Africa and MiddleEast), Fairmont Raffles Hotels Inter-national. “We are not ready to makean announcement, but I would ex-pect that announcement wouldcome in the next month or so.”Fairmont Raffles Hotels Interna-

Super-luxurSuper-luxurSuper-luxurSuper-luxurSuper-luxury Rafy Rafy Rafy Rafy Raffffffles holes holes holes holes hotttttel seel seel seel seel set ft ft ft ft for Omanor Omanor Omanor Omanor OmanSource: Oman Observer - June 14, 2008

tional is a leading global hotel com-pany with over 90 hotels worldwideunder the Raffles, Fairmont andSwissôtel brands. The companyalso owns Fairmont and Rafflesbranded Residences, Estates andluxury private residence club prop-erties.

Raffles’ planned entry into Omanwill be a major boost for thecountry’s booming tourism sector,which in recent years has attractedseveral billions of dollars in invest-ments in sumptuous integrated tour-ism resorts, luxury hotels, golfcourses, and marinas. Over the pastyear, a number of leading hotelbrands, notably Kempinski,Movenpick, Viceroy, and Shaza,have announced plans to manageproperties in the Sultanate.

On Thursday, Warmsley signed anagreement for the management ofthe first Fairmont branded propertyat The Wave, Muscat — a RO 1 bil-lion mixed use tourism and residen-tial development off Muscat Inter-

national Airport. Speaking to theObserver, Walmsley said the globalhotel company was keenly lookingat other opportunities to expand itspresence in the Sultanate. “We alsoown the Swissôtel brand, which is abusiness hotel concept. We thinkthere are some fantastic opportuni-ties in Muscat for potentially aSwissôtel. We don’t have anythingdefinite, but we are looking.”

In terms of market positioning, theproposed Raffles property in Omanwould rank among the premium ho-tels in the region. “Raffles is whatyou would call super-luxury. Ashigh as you can go, Raffles is thereor even above that. So its naturalcompetition, in Dubai for instance,would be the Burj Al Arab.” Rafflesis a collection of luxury hotels andresorts worldwide, each distin-guished by its luxury, elegance andresidential charm. Each hotel is alandmark in its respective city, posi-tioned at the top of its local marketand rated among the very best inthe world.

As Oman’s real estate marketmoves into new realms, Al

Balushi Investments, committed todeliver premium living and maximuminvestment value to its clientele, an-nounced the launch of its multimil-lion home project, ‘Mayar Al-Khoudh’, Oman’s first managed, ex-clusive community living experienceyesterday.

‘Mayar Al-Koudh’ embodies a vi-sion to create contemporary livingspaces for distinctive people in anexclusive and classy environmentwith the brand identity consisting of

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a flower and inspired by a single Is-lamic arch — a confluence of el-egant design, community living andmodernity rooted in traditional Ara-bian ethos of warmth, hospitalityand family orientation. With the to-tal cost of RO 13 million, the projectoccupies an area of 23,029 squaremetres with built-up areas for eachvilla ranging from 288 to 363 squaremetres.

The villas will feature four differentdesigns with the size spanning 230to 347 square metres. The luxuryhouses in the project, which is in-

spired by community living, will fea-ture four to five bedrooms, a livingroom and family sitting area, five tosix bathrooms and toilets, a diningroom, kitchen, storage, laundryroom, a maid’s room and two park-ing spaces.

The gated community living willhave additional modern and well-appointed facilities that include aswimming pool, gymnasium, recre-ational spaces, walking tracks,children’s play yards, as well asexclusiveshopping and recreationalfacilities. Al Rawahi International,


the company that was awarded theprimary contract for the project, willconstruct the villas. Shaikh Ahmedbin Suwaidan al Balushi, Chairman,Al Balushi Investments and ShaikhSalim Said al Rawahi, Chairman, AlRawahi International signed theconstruction agreement. Dubai-based architectural engineering firmDubarch has designed the luxuryresidences in association with AzriConsultancy.

Addressing the press conference atThe Chedi Hotel yesterday, HussainHabib, Managing Director, AlBalushi Investments LLC, said: “Ourvision is for ‘Mayar Al-Khoudh’ tobecome a premier development thatwill represent the current uptrend inthe Oman real estate market not onlyin terms of project values, number ofdevelopments and profitability, butmore importantly in high quality

standards.”

The three-storey villas, which willbe characterised as Type A (20 vil-las), Type B (30 villas), Type C (4 vil-las) and Type D (4 villas), are ex-pected to present excellent rate ofRate of Investment (ROI) per year,considering the rising demand andsoaring value of real estate proper-ties in Oman. The exclusive salesand marketing agents, Eqarat.com,the region’s leading total solutionsprovider in the real estate sector hasbeen signed on as the exclusivesales agents of the residentialproject that comprises of 58 indi-vidual villas in Al Khoudh. NationalBank of Oman and Oman Arab Bankhave partnered with Al Balushi In-vestments LLC to provide finance tobuyers and investors.

Dina al Jafari, Marketing Manager;

Eqarat.com Oman, expressed herhappiness to be associated with aproject as distinct as ‘Mayar-AlKhoudh’. “We are confident that‘Mayar Al-Khoudh’ will be one ofthe most sought after projects byinvestors as a result of its outstand-ing design and the highly profitablereal estate climate in Oman,” shesaid.

“‘Mayar Al-Khoudh’ reiterates thefact that Oman’s real estate develop-ing at an extraordinary pace. We aresure that investors will realise thepotential of the luxury residentialproject with its launch today,” sheadded. The construction of ‘MayarAl-Khoudh’, located 10 minutesaway from Muscat International Air-port that truly embodies the soul ofclassic elegance and brings sublimebeauty to your lifestyle, is expectedto complete by the end of 2010.

Sama Dubai, the international realstate investment and develop-

ment arm of Dubai Holding, has an-nounced the completion of 85 percent of advanced earthwork for itsprestigious AED6.5 billion Salam Yitilifestyle resort project in Muscat.

Salam Yiti project, a joint venturewith Omran (Oman Tourism Devel-opment Company), a subsidiary ofthe Oman Ministry of Tourism, al-ready has over three million cubicmetres of rock and sand placedonsite. The advanced earth worksare considered highly critical to thedevelopment of Salam Yiti, specifi-cally the three-six metre high incre-ment to the existing ground level,along with the realignment of WadiQanu.

The design followed an extensivestudy and analysis by Halcrow In-ternational of the upstream wadicatchment areas for ensuring themitigation of natural calamities. To

WWWWWororororork on Salam Yiti prk on Salam Yiti prk on Salam Yiti prk on Salam Yiti prk on Salam Yiti project project project project project progressesogressesogressesogressesogressesSource: Oman Observer - June 1, 2008

maintain the steady progress of en-abling work, Sama Dubai has con-tracted Boskalis Westminister Oman(BOC) along with its joint venturepartner Consolidated ContractorsCompany (CCC) to drive the earlyconstruction and developmentworks, which included the arrival ofmajor dredging equipment to site ca-pable of delivering nearly 300,000cubic meters of sand per week to thesite.

Farhan Faraidooni, Executive Chair-man of Sama Dubai, said: “The fastprogress of major foundation workat the Salam Yiti project reflectsSama Dubai’s objective to deliverhigh quality real-estate productsand services that endorse our far-sighted vision and commitment to-wards the local community.“Complementing the steady ad-vancement of the overall Salam Yitiproject, work on its individual com-ponents is also moving ahead asscheduled. Concurrently, a series of

measures have been adopted to en-sure the preservation and protectionof the environment.” The enablingwork for the first of the two exclu-sive islands has also been success-fully completed, leading to the com-mencement of further earthworks aspart of the Phase-2 reclamation workfor the development.

Over 30 per cent enabling works forthe marina access has been com-pleted for the access ‘bunds’, whilethe marina construction is firmly un-derway. A ‘concrete batching plant’has been commissioned on-site toproduce 30 tonne concrete blocksfor the purpose of erecting marinawalls that will accommodate 75 deepberths for larger sailing yachts.Salam Yiti, engulfed by mountainson the Yiti Beach, is an integratedresidential resort between Oman’sAl Hajar Ash Sharqi mountains andthe pristine beach below, covering420 hectares of land and rising ashigh as 140 metres above sea level.

MARKET REPORT 15

PPPPPororororort of Salalah tt of Salalah tt of Salalah tt of Salalah tt of Salalah to ino ino ino ino invvvvvestestestestest$112m for superstructure$112m for superstructure$112m for superstructure$112m for superstructure$112m for superstructure

Source: Oman Observer - May 20, 2008

The Port of Salalah is investing$112 million for installing port

handling equipment at the newly-developed berths, which will en-hance the port’s capacity to 6 mil-lion twenty equivalent tonnes(TEUs) per annum from 4.5 millionTEUs now. The cost of expansionwill be funded by way of long-termborrowing from institutions and in-ternal accruals. The port is prepar-ing to add four Super Post-PanamaxGantry Cranes for its two new 18mdepth berths.

The four new Super Post-PanamaxGantry Cranes will complement thecurrent 17 and enhance the port’scapacity to about 6 million twentyequivalent units (TEUs) per annum

by mid-2009. “These cranes can op-erate the largest vessels in the worldwith their ability to reach containersstacked 23 across on deck. The in-vestment will also include 4 mobileharbour cranes, 10 new spreadersthat allow twin pick capacity and 11additional rubber-tyred gantrycranes,” said the port in a statement.

The new cranes will play an impor-tant role in meeting customer de-mands and ensure improved effi-ciency and faster vessel turn times.“Since its inception, the Port ofSalalah has always strived to be anindustry leader in innovation andport development. To ensure contin-ued success, we must make neces-sary long-term investments.

Our business growth makes it im-portant for us to increase availablecapacity in order to maintain ourconsistently high-quality service toour customers as our throughputcontinues to increase,” Gary Lemke,Chief Executive Officer of Port ofSalalah, said in the statement.

Salalah Port Services posted a 144per cent growth in net profit at RO1.56 million for the first quarter of2008, over the same period last year.Similarly, the port’s revenue soaredto RO 9.84 million from RO 6.97 mil-lion, while earnings per share stoodhigher at 87 baisa from 36 baisa. Di-rect operating cost was up at RO5.12 million from RO 4.22 million dur-ing the period.

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The $1 billion iron ore pellet plantplanned at the Port of Sohar by

Companhia Vale do Rio Doce(VALE), the global giant in the min-ing industry, has been rankedamong the top 10 steel and relatedprojects in the GCC.

More than $18 billion is being in-vested in 46 steel manufacturingplants throughout the Arabian Gulfin an attempt to close the wideninggap between supply and demand forsteel — a major component for theconstruction industry as well as ma-terials handling machinery for manu-facturing, according to latest indus-try research.

“While there is talk of a slowdownin other parts of the world, thegrowth in the Middle East manufac-turing base continues to expandwith demand for steel far outstrip-

ping supply,” said Spencer Felix, Ex-hibition Manager of the Middle EastManufacturing Exhibition(MEMEX), which takes place in AbuDhabi from November 23 to 25, 2008.

“In the race to plug the supply gapa swathe of new steel plant projectsas well as expansions to existingplants have been unveiled acrossthe region with huge potential busi-ness opportunities for industrystakeholders,” added Felix.

According to the database of re-search company Proleads, whichmonitors major constructionprojects across the region from ini-tial study to completion, SaudiArabia with 17 and the United ArabEmirates with 16 are leading the wayin steel plant projects individuallyvarying in value from $2 billion to$15 million. Oman has six steel

plants on the books, Bahrain fourand Qatar three.

Topping the list of projects is an in-tegrated complex of steel factories inSaudi Arabia which will turn out500,000 tons a year of railway track,three million tons a year of iron andsteel processing and productionplant and 800,000 tons a year ofpipeline manufacturing plant. Of thetop ten projects, four are in SaudiArabia, three in the UAE, two inQatar and one in Oman.Brazil-based VALE is planning toconstruct an iron ore pellet plantand iron ore distribution centre facil-ity in the Port of Sohar. The produc-tion at the Port of Sohar of iron orepellets is planned to commence inthe second half of 2010. This will bethe first whole-owned green field in-vestment in the ferrous sector out-side Brazil for VALE.


The real estate sector is the high-est income yielding investment

in the Sultanate, with demand grow-ing across the different usagegroups — residential, commercialand tourism related activities, ac-cording to the Kuwaiti think-tankGlobal Investment House (GIH). De-spite the recent increase in real es-tate prices, Oman still remains acompetitive market in terms of pricesas compared to other GCC coun-tries, it said. Citing statistics byMazaya real estate, GIH said the to-tal volumes of concluded dealsjumped to new peaks reaching 24.2million sq m in 2007 compared to13.7 million sq m in 2005, an increaseof 43.4 per cent. The investmentduring the period was RO 1.61 bil-lion compared to RO 0.29 billion dur-ing 2005.

The average price per square metrefor residential land increased by 253per cent to RO 52 in 2007 comparedto RO 16.3 in 2006 and RO 14.7 in2005. The residential sector cap-tured the biggest share, registering94.6 per cent of the total number ofplots in 2006, and the capital cityMuscat having around 26.2 per centof the total plots in 2006. On thecommercial front, volume of dealsincreased by 27 per cent reaching2.7m sq m in 2007 compared to 1.97min 2005. The total value the deals in-creased by 314 per cent reaching RO397.8m in 2007 compared to RO 96min 2005. The average price per sqmof land for commercial use was RO151 compared to RO 48 in 2005.

According to GIH, an ambitious freezone project in the Dhofar regionhas evoked considerable interestamong local and foreign investors.This is due to the new amendmentsto visa rules and legislation govern-ing foreign ownership of real estate.A new visa system is in place and anumber of changes have been made

in the law governing land ownershipby foreigners. Non-Omanis can nowown real estate in certain touristprojects. The Capital InvestmentLaw now permits up to 70 per centownership by foreigners in projectsand the tax law has been revised topromote investor confidence. Thefree zone project covers an area of2,000 hectares. Phase 1, currentlybeing developed, encompasses 200hectares. The entire cost of the in-frastructure development is borneby the government of Oman.

Yenkit Tourism Development LLC isdeveloping a $2 billion luxury Inte-grated Tourist Resort Complex atYenkit in Muscat Governorate. Theproject will be an ‘Integrated Tour-ism Complex’ as designated by theMinistry of Tourism, and will con-sist of four 5-star hotels with ap-proximately 900 rooms, an 18-holeinternational golf course; a widerange of tourist facilities, includingsports and leisure facilities, a resortvillage, nature reserve and visitorscentre, beach club, heritage andcraft centre and major open spaces;1,400 residential villas and up to1,900 residential apartments andtownhouses.

The project responds to a major ini-tiative of the Omani government tocreate a world-class tourism corri-dor, stretching down the sceniccoast between Muscat and Sur tothe south. A number of other factorshave contributed to the increasingreal estate demand. Firstly, owner-ship laws have been relaxed to en-courage foreign ownership of realestate. Royal Decree 12/2006 ex-tends foreign ownership rights toinclude non-GCC nationals (how-ever only in certain designated ar-eas). Demand for housing is alsogrowing especially with 65 per centof the Omani population below theage of 24.

The increase in commercial projectsenvisages an influx of expatriatesfurther fuelling the demand for resi-dential rentals. The number of expa-triates in the Sultanate was 638,447in 2007 representing a y-o-y growthrate of 25 per cent over 510,713 as atend of 2006. During the previousyear the expatriate population hadgrown at a y-o-y rate of 20.2 percent from 424,788 to 510,713. The in-creasing sequential y-o-y expatriatepopulation growth rate is expectedto maintain the upward trend in 2008as well, and lead to a paucity of resi-dential facilities, says Global Invest-ment House.

Secondly, the recent surge in theConstruction Cost Index (CCI) in theSultanate underpins the increasingreal estate demand. The CCI forcommercial space registered a 3.5per cent y-o-y growth in Q2 2006compared to the 0.2 per cent y-o-ygrowth during the Q1 2006 period.For residential space, the CCI hadgrown at a y-o-y rate of 3.4 per centin Q2 2006 as compared to 1.2 percent y-o-y growth during the Q12005 thus representing an increasedlevel of activity on a sequential ba-sis.

Thirdly, the Muscat Wholesale PriceIndex for building materials has alsogrown by 8 per cent from 131.1 in2006 to 141.6 in 2007. “The real es-tate in Oman is continuing its stronggrowth. The latest available datafrom the Ministry of NationalEconomy indicate that the totalnumber of plots have increased from35,414 in 2004 to 71,263 in 2005, awhopping increase of 101 per cent.We expect further growth in demandin 2008 for commercial land as a re-sult of vigorous commercial activityin the manufacturing and tourismsectors as a result of Sultanate’s fo-cus on these sectors during the cur-rent plan period,” GIH stated.

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MARKET REPORT 17

Thirty-six agreements to developthe infrastructure of ports, ma-

rine affairs, roads and civil aviationsectors at a cost of RO205,559,481were signed at the Ministry ofTransport and Communications yes-terday.

The agreements were signed on be-half of the Sultanate’s governmentby Dr Khamis bin Mubarak AlAlawi, minister of transport andcommunications, and the generalmanagers of the contractors. Themajor agreements include an agree-ment with Dawoo Engineering andContracting in partnership withGalfar Engineering and Contractingcompany, worth RO170,168,229, re-lated to construction of dry dock atAl Duqm Port in the Al Wusta re-gion.

The second agreement with Con-solidated Contractors Oman, worthRO4,956,314, is related to the addi-tional variation order No. 2 of the

project to construct the infrastruc-ture of Sohar Industrial Port.

The third agreement with HaskoningUK Ltd and Khateeb and Elmi AlBarakah for Economic Consultancy,worth RO1,695,640, is related to theconsultancy service for the designand supervision services as well asoperation and management of thenew port and dry dock constructionin the wilayat of Al Duqm. Theproject also includes the design andsupervision of the marine works atthe port.

The fourth agreement worthRO925,165 is related to the variationorder No. 2 for construction ofberths at Sohar Industrial port.

The fifth agreement with TeejanTrading and Contracting Company,worth RO499,039, is related to thevariation order No. 3, for the arrivalterminal for tourists and passengersat Sultan Qaboos Port.

In the field of roads, Al Alawi signedthe first agreement with Caison Con-tracting Company, worthRO7,323,812 related to Khasab/Lima/Diba Al Baiah first part/Khasab/Al Khalidiyah 21.6km road.

The second agreement with Khalidbin Ahmed & Sons, worth RO3,340,295, is related to the additionalvariation order No. 5 for the designand construction project of AlLihiban road in the wilayat of Sahamto Kahnat in the wilayat of Ibri.

The third agreement with ArabProjects and Transportation OmanCompany, worth RO3,321,626, is re-lated to the additional variation or-der No. 2 and 3 for the constructionof Wadi Dema road project in theSharqiyah region.

The fourth agreement with the Gulfof Oman company, worthRO1184.666, is related to the addi-tional variation order to the design,

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Source: Times of Oman - April 29, 2008

CEMENA, a new giant cementcompany whose creation was

announced in Bahrain yesterday,also plans to enter the Oman marketin the near future. Gulf FinanceHouse (GFH), the leading invest-ment bank in the region, yesterdayannounced plans to createCEMENA, which is set to becomeone of the largest cement companiesin the Middle East and North Africa.

In a deal with an estimated endvalue of $2 billion, GFH will be col-laborating with strategic partnersincluding the Associated Group,Emirates Islamic Bank, Capcorp, andleading technical partners Holtecand China National Building Mate-rial Group Corporation (CNBM), the

largest state-owned building materi-als in China. The project will com-prise of multiple plants locatedacross the MENA region. It is esti-mated that production will begin in30 months, and the target is to sup-ply 10 per cent of the region’s re-quirements in the future.

The tremendous growth in theMENA real estate sector, driven byhuge numbers of private and gov-ernmental infrastructure projects,have created substantial demand forcement in the region. This, alongwith interest shown by Europeancompanies to secure supply intotheir markets from this region, arethe principle factors behind GFHand its strategic partners’ plan to

create CEMENA.

The GCC alone consumes around 62million tonnes per annum but overthe next three to five years this fig-ure is expected to increase by a pro-jected value of 40 per cent. To meetthis demand CEMENA will operatemultiple plants in the MENA regionand is planning to enter seven initialmarkets (the UAE, Bahrain, Syria,Jordan, Yemen, Oman and Libya),and in time, hopes to broaden itsreach into other markets in the fu-ture.

GFH Chairman Esam Janahi com-mented: “There is a substantialwealth of opportunity in this market-place.”

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construction and lighting of the in-ternal roads project in the wilayat ofMaqshan.

The fifth agreement with StrabagOman Company, worth RO969,506,is related to repair of the damage re-sulting from the adverse weatherconditions on BidBid/Sur road op-posite Sur Hospital. It is related tothe construction of new box cul-verts with 4x4m openings.

The sixth agreement with ShanfariTrading and Construction Company,worth RO945,686, is related to theadditional variation order No. 2 onthe design and construction of AlGhaizin/Maskan road project.

The seventh agreement with AlRaseed Trading and ContractingCo., worth RO900,000, is related tothe additional variation order No. 1for maintenance of the graded roadsat the mountainous areas in Dhofargovernorate.

The eighth agreement with GalfarEngineering and Contracting Com-pany, worth RO789,330, is related tothe additional variation order No. 4for Rustaq/Maskan road project.

The ninth agreement with StrabagOman, worth RO761,000, is relatedto the additional variation orderNo.1 for the design and construc-tion of Al Haj/Filam road in the AlWusta region.

The 10th agreement with Al Nasr AlArabia Company, worth RO700,000,is related to the additional variationorder No. 1 for the annual mainte-nance of the asphalt roads in Dhofargovernorate.

The 11th agreement with Al SaroojConstruction Company, worthRO579,590, is related to the design,construction, re-alignment and im-proving the hurdles of a number ofgraded road projects in the AlSharqiyah region.

The 12th agreement with Khalid binAhmed & Sons company worth

RO572,640, is related to repair of thedamage on Falaj Al Mashaiekh roadin the wilayat of Jalan Bani BuHassan, which was affected by theadverse weather conditions.

The 13th agreement with Wadi AlSheab Trading and ContractingCompany, worth RO459,795, is re-lated to the design and constructionof a 4-km road project in Fanja town.

The 14th agreement with ArabProjects and Transportation OmanCompany, worth RO452,377, is re-lated to the additional variation or-der No. 1 related to the constructionof the second part of Al Ashkhara/Shannah road project, fromKhuwaimah to Shannah.

The 15th agreement with Oub HailTrading and Contracting Company,worth RO400,000, is related to theadditional variation order No. 1 forthe maintenance of a number ofgraded road projects in Dhofar gov-ernorate.

The 16th agreement with Oman forBuilding and Contracting Company,worth RO264,000, is related to theadditional variation order No. 1 forthe design, implementation, pavingand lighting project for a number ofinternal roads in the wilayat ofShaleem and Halaniyat Islands inDhofar governorate.

The 17th agreement with NationalPakistani for Engineering Servicesand Partners Company (NASPAK)worth RO531,705, is related to theconsultancy service for the supervi-sion of the design and constructionof a number of internal roads in thewilayat of Sumail (1, 2 & 3).

The 18th agreement with the samecompany, worth RO423,130, is re-lated to the consultancy service forthe supervision of the design andconstruction project for a number ofinternal roads in the wilayat of Izkiand the wilayat of Nizwa (1, 2 & 3).

The 19th agreement with ParsonsInternational & Partners Company,

worth RO405,000, is related to theconsultancy service for the designand supervision of dual carriageway from Farq roundabout toMerfaa Falaj Daris in Nizwa.

The 20th agreement with the samecompany, worth RO376,800, is re-lated to the consultancy service forthe design and construction of anumber of internal roads in thewilayat of Dema wal Tayeen, as wellas the design and construction of anumber of internal roads in thewilayat of Ibra 2.

The 21st agreement with the samecompany, worth RO371,800, is re-lated to the consultancy services forthe design and construction of anumber of internal roads in thewilayat of BidBid, as well as the de-sign and construction of a numberof internal roads and connections atRahba in the wilayat of Sumail andBidBid.

The 22nd agreement with the sameconsultant, worth RO282,000, is re-lated to the consultancy services forthe repair of the damage resultingfrom the adverse weather conditionson Sur Bahari road, Sur Al Aija roadand Ras Al Hadd/Asila road.

Al Alawi also signed the 23rd agree-ment with National Pakistani for En-gineering Services and Partnerscompany (NASPAK), worthRO229,000, for the provision of theconsultancy service for the supervi-sion of Al Maladda/Al Hazm dualcarriage way project.

The 24th agreement with W. S.Atkins International and PartnersCompany, worth RO210,000, is re-lated to the consultancy service forthe design of asphalt road projectfrom Wadi Al Minqal till Bani Jabirin the wilayat of Sur.

The 25th agreement, worth RO178,660, is related to the design andconstruction of a number of internalroads in the wilayat of Bahla (1 & 2).

The 26th agreement with Engineer-

MARKET REPORT 19

The Al Madina A’Zarqa coastaldevelopment, one of the most

important tourism and infrastructureprojects in the Middle East, is fastemerging as a valuable growth en-gine for the Omani economythrough its successful Omanisationinitiative and multi-million dollarcontracts.

Situated on 32-square kilometres ofprime beach front at Al Sawadi, lo-cated between Muscat and the rap-idly growing city of Sohar, AlMadina A’Zarqa serves as a multi-faceted commercial centre, touristattraction and residential develop-ment. Phase 1 of the project, whichbroke ground in 2007, has alreadycreated hundreds of employmentopportunities for Omani nationals,with millions of dollars worth ofcontracts and subcontracts beingawarded to local Omani companies.

“The $2 billion development ofphase 1 requires a labour force ofapproximately 7,000 workers and 500engineers over the course of thenext five years,” said Professor FariAkhlaghi, CEO and managing direc-tor of Blue City Company 1, the de-velopers of phase one of the AlMadina A’Zarqa project.

“From the outset, Al MadinaA’Zarqa has been committed to gen-erating employment opportunitiesfor the people of Oman and to sup-porting Oman economy. It gives usgreat satisfaction to be able to con-tribute significantly to Oman’s 2020vision for the future”.

“We have achieved 52 per cent ofOmanisation according to the stipu-lations of the Ministry of Man-power, and are looking forward toincreasing this number as we con-tinue to recruit and retain talentedOmanis.”

This vision of Omanisation is sup-ported by AECO Development LLC,responsible for construction ofPhase One of Al Madina A’Zarqa(Blue City 1).

An estimated 17 per cent of AECO’sworkforce is from Oman, while 50per cent of the group’s machineryand equipment continues to be pur-chased locally from companies suchas Saud Bahwan Group, SuhailBahwan Group, Muscat OverseasGroup and many others.

Tamer Perk, project manager ofAECO Development LLC said: “The

mobilisation work for Phase One ofAl Madina A’Zarqa is considered tobe the biggest in the Gulf region dueto the sheer size and scale of theproject. More than 50 per cent of allmaterial needed for this has beensourced from within Oman.”

“To date, 85 per cent of AECO’sagreements have been with Omaniregistered companies and AECO hascommitted 40 per cent of its sub-contract expenditure in the Sultan-ate. AECO has executed works in ex-cess of $70 million with nearly $24million awarded to sub-contractingcompanies as well as the procure-ment of equipment ($21 million) andmaterials ($16 million).”

According to Perk, more than 70 mil-lion working hours and almost onemillion cubic metres (1,000,000 m3)of concrete will be required for theconstruction of phase one ofMadina A’Zarqa.

This involves more than 1,500,000m2 of building space and the associ-ated urban infrastructure. It is esti-mated that more than 1,500 Omaniswill be working at peak time duringphase one, ranging from engineersto technicians.

Al Madina AAl Madina AAl Madina AAl Madina AAl Madina A’Zar’Zar’Zar’Zar’Zarqa tqa tqa tqa tqa to drivo drivo drivo drivo drive economic gre economic gre economic gre economic gre economic grooooowthwthwthwthwthSource: Times of Oman - April 28, 2008

ing Consultancy Services Company,worth RO175,000, is related to theconsultancy services for the super-vision of the design and construc-tion of a number of internal roads inthe wilayat of Mudhaibi, the designand construction of a number of in-ternal roads in the wilayat of Ibra.

The 27th agreement with the Na-tional Engineering Office, worthRO143,630, is related to theconsultancy services for the super-vision of the design and construc-tion of Misbit, the wilayat of Sumailand the wilayat of BidBid road.

The 28th agreement, worthRO132,700, is related to theconsultancy services for the super-vision of the design and construc-tion of a number of internal roads inthe wilayat of Wadi Bani Khalid.

The 29th agreement with Consir &Partners Company, worthRO129.750, is related to theconsultancy services for the super-vision of the design and construc-tion of road project in the wilayat ofSur. Al Alawi also signed an agree-ment with Comsoft GMPH, worthRO388,425, related to the supply, in-

stallation and test of automatictransmitters. He also signed anagreement with Carillion & Alawi,worth RO273,425, related to the sup-ply and installation of a temporarysecurity boundary at Muscat Inter-national Airport.

The signing ceremony was attendedby the undersecretary for transportat the Ministry of Transport andCommunications, undersecretary forports and marine affairs at the Min-istry of Transport and Communica-tion and a number of officials at theministry. — ONA


Majan Gulf Properties (MGP),designers and developers of

the Sohar Residential and Commer-cial Project, launched the sale of 1stphase of its luxurious ‘Springs Com-pound’ home project comprising 75double-storied villa style residencesyesterday. Combining Omani archi-tecture with contemporary Arab cul-tural construction, the villas’ interiordesign is a combination of Arabicand Western style. Strategically lo-cated in the fastest developing in-dustrial bay in Oman, the SpringsCompound seeks to cater to thegrowing real estate demand acceler-ated by the city’s rapid industrialgrowth and influx of residents andtourists alike.

Addressing the press conference,Bader al Hamdani, Marketing andSales Manager, said: “The growingresidential demand in Sohar due tothe pace of its industrialisation is

faced by the challenge of scarcity insuch real estate projects. Addition-ally, the current devaluation of cur-rencies has had a negative impacton financial investments.” “In thelight of these situations, investmentin real estate poses as an ideal alter-native to most investors today andhence has propelled the demandeven more. Springs Compound, inthis regard provides a unique op-portunity due to its locationamongst other features. The yield inSohar is reaching 15 per cent. More-over, potential buyers have easy fi-nancing options from banks acrossthe country”, he added.

On the progress of the 1st phase, AlHamdani said: “The Springs com-pound is 70 per cent complete and isexpected to complete by May 2008.Timely delivery is a core constituentof our overall marketing objective.We realise that adhering to our

promise of timely delivery is an im-portant factor in instilling confi-dence in our customers.”

Speaking about the details of theproject, Sami Karam, Project Man-ager, said: ‘The Springs Compound’is spread over a total area of 63,758square metres comprising 129 luxuryvillas in all, with different variationsranging in size from 200 m² to 220m². “Each villa is extended on twostorey, a ground and first floor lev-els, with a private landscape area,two outdoor parking lots as well asprivate services,’ he said. “The com-pound includes a mosque, a sportsclub and a recreational area. A mod-ern infrastructure offers decorativestreet lighting, attractive publiclandscape areas and parks,centralised sewage network with themain entrances and exits providedwith a 24-hour security tool boothwith access barriers,” he added.

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Source: Oman Observer - April 20, 2008

Daewoo Shipbuilding & MarineEngineering Co. has signed an

agreement with the government ofOman to develop tourism projects inDuqm, the South Korean company’sfirst foray into real estate.

The venture will develop the portcity, about 450km south of Muscat,into a tourist and business area,Daewoo Shipbuilding said in an e-mailed statement yesterday. Thevalue of the project will be decidedlater, the Seoul-based company said,without giving details of the devel-opment. Daewoo Shipbuilding, theworld’s third-biggest shipyard, isturning to new businesses to ben-efit from increased spending in theMiddle East. Economies in the Gulfregion will expand 9.2 per cent thisyear as oil revenue spurs spending

on airports, power plants and busi-ness parks, according to MorganStanley.

The Duqm project may be worthabout $20 billion, the Korean-lan-guage internet newspaperMoneyToday reported yesterday,without saying where it got the in-formation.

Gulf states plan to spend a com-bined $1.1 trillion to develop theireconomies, Qatar Finance MinisterYousuf Hussain Kamal said onMarch 16. That may help South Ko-rean contractors win record ordersfor a third year in 2008.

Daewoo Shipbuilding may developDuqm into a marine resort with con-dominiums and hotels as well as

building homes for people workingin the city, which will become an in-dustrial and tourist area by 2020, theshipyard said. The government alsoplans to build a refinery complex, acrude-oil export terminal and a newairport and expand port facilities inDuqm.

The South Korean shipbuilder in2006 signed an agreement to buildand operate a ship-repair yard inOman, which will be the biggest inthe Middle East. Other South Ko-rean companies are also moving intoOman. LG International Corp., a unitof LG Corp., said on Tuesday itsigned a preliminary agreement withKorea Southern Power Co. andstate-owned Oman Oil Co. to bid fora $2 billion coal-fired power projectin the Middle East nation.

DaeDaeDaeDaeDaewwwwwoo too too too too to deo deo deo deo devvvvvelop telop telop telop telop tourism in Duqmourism in Duqmourism in Duqmourism in Duqmourism in DuqmSource: Times of Oman - April 23, 2008

MARKET REPORT 21

The Malkai, a project representing a significant real estate and

luxury hotel development in Oman,was launched yesterday.

Designed to be an exclusive commu-nity, The Malkai at Barka will com-prise a country club, residences andresort that will compare to some of

the finest around the world. Theproject is scheduled to open by theend of year 2010.

Al Maeen Real Estate Services CoLLC is the developer of the project.

Announcing the launch at a pressconference at Hotel Chedi, Pankaj

Khimji, owner of The Malkai, said:“Through the project we hope tomake a statement in lifestyle and inarchitecture.”

He informed the media that theproject would be spread across 216acres and will comprise 101 four-bedroom villas for sale, 92 two bed-

RRRRReal estateal estateal estateal estateal estate, luxure, luxure, luxure, luxure, luxury hoy hoy hoy hoy hotttttel prel prel prel prel project launcoject launcoject launcoject launcoject launchedhedhedhedhedSource: Times of Oman - April 15, 2008

Al Madina A’Zarqa, the most sig-nificant infrastructure develop-

ment in Oman and one of the big-gest developments in the MiddleEast, is firmly on course and pro-gressing without delay on phaseone of the city.

The 32-square kilometre project, lo-cated 60 minutes north-west ofMuscat, is divided into a number ofphases, the first phase being 2.6square kilometres. The developmentwill create a tourism platform for thecountry and will help to positionOman as an international destina-tion. It will also become a vehicle forthousands of job opportunities di-rectly in the new city and thousandsof other jobs created through satel-lite services to the city.

“Al Madina A’Zarqa is not only sig-nificant in the region due to itssheer size and scope, but also dueto the independent legal and finan-cial structures under which theproject is secured and managed,”said Professor Fari Akhlaghi, Man-aging Director and CEO of Blue CityCompany 1 SAOC, the special pur-pose vehicle incorporated to over-see the management of phase one ofAl Madina A’Zarqa project. “BCC1SAOC is an independently financedlegal entity established to developAl Madina A’Zarqa, operating inde-pendently of the shareholders.

In other words, when one purchasesa property in Al Madina A’Zarqa,payments are directed to bank ac-counts held in the name of Blue CityCompany One and supervised bythe bondholders’ representativebank, and not to the shareholders ofthe company,” added Prof Akhlaghi.The funding of Al Madina A’Zarqa’sfirst phase differs greatly from otherdevelopments in the Middle East.Unlike most other real estateprojects in the region, Al Madina A’Zarqa does not rely solely on thepre-sale of off-plan property to fi-nance the development. This pro-vides investors and purchasers withthe highest levels of confidence thatthe project is protected from all man-ner of challenge during its lifetime.

Phase one of the project used aunique and pioneering funding ve-hicle through issue of bonds on theIrish Stock Exchange that raised ini-tial funds of $925 million. Dependingon their category, the bond issuehas already been formally rated atinvestment grade by major interna-tional rating agencies such as Fitchand Moody’s. The bonds, which aretraded instruments on the financialmarkets, have been purchased bymajor international institutions thatare regularly updated on theprogress of the project and regardthem as sound investment. Accord-ing to a strict loan agreement under

which funds are made available toBCC1, all funds must be held in spe-cific bank accounts.

The monitoring and supervision ofthe funds is overseen by the Bankof New York, as the appointed repre-sentative of the Bond Holders. Atechnical adviser, Hill International(UK) Ltd, also participates in themonitoring and supervision of theproject to ensure compliance withthe conditions on which funds havebeen made available to BCC1. ProfAkhlaghi commented that the strictsupervision of fund releases has notaffected progress of the project.“Phase one of Al Madina A’Zarqa ison schedule and progressing with-out delay,” he said. “The maincontractor’s direct work force de-ployed on site is expanding rapidly.”

Various enabling and preparationwork has advanced, including theconstruction of a major facility onsite to provide accommodation formore than 7,000 workers, engineersand staff. The facilities for deliveryof the project are now complete andinclude living accommodation andall amenities for single status andmarried personnel. The project haspassed more than one million manhours of site activity without anyaccidents and with significant con-struction activity about to start, thisfigure will escalate rapidly.

Al Madina AAl Madina AAl Madina AAl Madina AAl Madina A’Zar’Zar’Zar’Zar’Zarqa prqa prqa prqa prqa project on couroject on couroject on couroject on couroject on courseseseseseSource: Times of Oman - April 16, 2008


Muriya Tourism Developmenthas initiated the process of

signing the agreements with thecustomers of the Phase I of its twomajor projects — Jebel Sifah andSalalah Beach. The first phase ofboth the projects was sold outwithin 48 hours of being launched inthe last quarter of 2007.

Director of sales Ali Abuelhawa de-scribed the signing of the contractas a moment of great importance forMuriya. “The proud owners of the420 apartments and villas have beeneagerly waiting to sign the contractsand we are very pleased to an-nounce the same. With this, we areentering the next phase of Muriya’sambitious development plans,”

Abuelhawa said.

The signing of the contracts com-menced on April 5, whereinAbuelhawa along with the directorof customers relations and sales op-erations, Hani Macki were presenton the occasion of the first cus-tomer signing. Muriya is currentlyarranging appointments for custom-ers to sign their contracts.

Mobilisation of the sites is alreadyunderway and the projects are pro-gressing as planned. The integratedtourism complexes will feature a di-verse range of commercial, tourismand high-end luxury facilities suchas real estate, hotels, marinas, golfcourses and much more. The prop-

erties will provide diversity in archi-tectural style that will at the sametime be integrated with Omani cul-ture and traditions. Muriya is com-mitted to preserving the country’snatural treasures and is leading theway in promoting environmentallyand socially responsible tourism.

Muriya Tourism Development Com-pany was established in Oman inMarch 2006, as a joint venture be-tween Egypt’s Orascom Hotels &Development 70 per cent, and theOmani government 30 per cent rep-resented by Omran. Muriya is in-vesting over $900 million in four ma-jor projects in Oman, namely SalalahBeach, Jebel Sifah, ‘City Walk’ inMuscat and Al Sodah Island.

MuriyMuriyMuriyMuriyMuriya stara stara stara stara starts signing of Phase 1 contractsts signing of Phase 1 contractsts signing of Phase 1 contractsts signing of Phase 1 contractsts signing of Phase 1 contractsSource: Times of Oman - April 15, 2008

room suites, as well as a boutiquehotel offering 41 luxury suites.

The project, estimated to cost $250million, will be a low-density devel-opment and only 10 per cent of the216 acres will be built up. It will be afreehold title and there won’t be re-striction on foreign ownership.

The approximate price currentlystarts at $1.3 million for the two bed-room suites and $4 million for thevillas.

Pankaj also said that a world-classnine hole golf course — the firstever in Oman designed by re-nowned golf course architects, GaryPlayer Design, will be an added ad-vantage for the owners and guestsat the property.

Pankaj and the most successful in-ternational golfer Gary Player alsosigned a golf-designing contract atthe launch.

Gary who was present at the pressconference said he had a great affin-

ity for the Middle East. “Golf is agreat catalyst for getting people totravel. Bringing golf to Oman issomething I am going to enjoy. Thebest part of Oman is that there is alot of fresh air and sunshine,” hesaid.

The Malkai’s master plan and leaddesign has been carried out by AW2from Paris. Internationally acclaimeddesigners Jaya and Associates areresponsible for the interior design ofall the villas and suites, which willbe presented fully furnished forsale. Each property will be fullylandscaped and also feature largeswimming pools. All villas will havedirect golf course views. A fully ser-viced spa enclosed in a walled watergarden will also be part of theproject.

Additional facilities will include themain clubhouse, two restaurants, aboutique, delicatessen, a junior cluband tennis courts.

The Malkai will also have its ownBeach Club within easy reach of the

property for the exclusive use ofresidents and guests.

Reda Amalou, architect, AW2 whowas at the press conference said theproject while clearly contemporarywould remain rooted in the essenceof Omani architecture and tradition,giving a strong sense of place.

The extensive use of walls, screens,shadows and light throughout thedesign is a direct reference to thisrich Arabian and Islamic architec-tural past.

The operator of the project is the re-tained management company; GHM(General Hotel Management Ltd)bears the unmistakable imprint oflegendary hotelier Adrian Zecha andwill be setting a standard of styleand service.

International Chartered Surveyorsand Property Consultants, Cluttonsare managing the sales of theproject. Alex of Cluttons said, forthose who buy the property it willbe a turnkey purchase.

MARKET REPORT 23

At a time when Oman is experi-encing a rapid development

phase unparalleled in its history, theSuhail Bahwan Group is venturinginto property development with twopremium projects —a luxury resi-dential development and a state-of-the-art commercial building. Theprojects are being offered to bothOmani nationals and Gulf citizens.

Bahwan Properties LLC, the real es-

tate arm of Suhail Bahwan Group,unveiled the two exclusive projectsyesterday at a ceremony held atGrand Hyatt Muscat. Saad Bahwanand Milind Pathare, business head-real estate, Suhail Bahwan Group,attended the press conference.

According to a company release,Janayin Sama (Sky Gardens) will setnew benchmarks in luxury and con-venience, unparalleled in architec-

tural splendour and spacious envi-ronment within the residences aswell as the premises.

The project will include privatepools, shopping facilities, spa, root-top pool, restaurant, and health club— the luxury standards befitting thecream of high-end clients associatedwith the development.

Janayin Sama will be located in

Suhail BahwSuhail BahwSuhail BahwSuhail BahwSuhail Bahwan van van van van ventures intentures intentures intentures intentures into pro pro pro pro properoperoperoperoperty marty marty marty marty markkkkkeeeeetttttSource: Times of Oman - March 30, 2008

W.J. Towell Group has joinedhands with three leading In-

dian business houses for real estatedevelopment in Oman. PiramalGroup, Simplex Infrastructures Ltdand Talati and Panthaky AssociatedPvt Ltd are the companies joininghands with W.J. Towell Group,headed by Hussain Jawad as thegroup chairman.

Imad Sultan, director in-charge ofIndian ventures, W.J. Towell & Co.LLC said: “We are entering a newphase in its long history of successwithin the region. The associationwith these joint ventures will bring anew level of interest and expertise tothe fore in all W.J. Towell construc-tion and real estate activities.”

W.J. Towell Group, formed in 1866,has been a pioneer in property de-velopment in Oman. Way back inthe 1970s, the company developedthe first residential complexcharacterised by garden courts, vil-las, apartment blocks and commer-cial centre. Property/real estate andconstruction is one of the group’score businesses.

Anil Wadhwa, India’s ambassadorto Oman said: “For these giants ofIndian industry, an association withW. J. Towell & Co. in Oman willbring in synergy and will surely helpto build and maintain close Indo-Omani relations.”

Piramal Group under the leadershipof Ajay Piramal has a group turn-over in excess of $1.1 billion, and atotal market capitalisation of $1.88billion. Active in four main businesssectors, including pharmaceuticals,financial services and real estate,Piramal has a global presence withrepresentation and offices through-out Europe and in the United States,the United Kingdom, Canada, China,South America and Sri Lanka.

Simplex’s history and current marketpresence is equally impressive. Thecompany has enjoyed an uninter-rupted profit track record since itsinception in 1924. With a businessmodel emphasis in diversification,Simplex has executed over 2,100prestigious projects in India andacross the world. Simplex was re-cently awarded the Seeb Corniche

development project, signed off bythe two partners, Towell Construc-tion and Simplex represented byAmitabh Mundhra, director.

Leading architectural and designfirm Talati and Panthaky AssociatedPvt Ltd, enjoys an unparalleled po-sition of prestige in its field.

The firm was established four de-cades ago by group ChairmanNoshir D. Talati. Talati andPanthaky’s design is transformingmore than 40 million sqft rangingfrom residential, commercial, corpo-rate headquarters, retail, entertain-ment and health, education.

By engaging in these joint venturesIvor Braganza, CEO (Property &Construction) said: “W.J. Towell isadding another successful chapterto its rich history in Oman. The newalliance with these major players ofIndian industry will undoubtedlyadd significant value to the tremen-dous progress of Towell’s construc-tion and infrastructure projects tothe benefit of all of us within theSultanate.”

WWWWW.J. T.J. T.J. T.J. T.J. Tooooowwwwwell, 3 Indian companies tell, 3 Indian companies tell, 3 Indian companies tell, 3 Indian companies tell, 3 Indian companies to to to to to team upeam upeam upeam upeam upfor real estate developmentfor real estate developmentfor real estate developmentfor real estate developmentfor real estate development

Source: Times of Oman - April 08, 2008


The recent sales launch of OceanView villas and Almeria North

apartments, at The Wave, Muscatreceived an overwhelming response,and was an instant sell out.

“Details of the launch were madeavailable on March 2, and crowdstarted gathering outside TheWave, Muscat offices immediatelyafter that in sheer speculation of the

launch date.

“By the evening of March 7, some150 people had assembled at theproject site. Whilst this is a huge

The WThe WThe WThe WThe Waaaaavvvvve’s Ocean Viee’s Ocean Viee’s Ocean Viee’s Ocean Viee’s Ocean View prw prw prw prw project an instant hitoject an instant hitoject an instant hitoject an instant hitoject an instant hitSource: Times of Oman - March 10, 2008

Al Nabri Global Investment Com-pany recently announced the

establishment of a world-class seaview hotel and resort at Al Zaafaranin the wilayat of Sohar.

Construction works on the project,worth around RO10 million, is ex-pected to commence by the end ofthe third quarter of the year and willbe complete by 2010. It will have 207rooms, 10 luxurious suites, 2 presi-dential suites, seminar and meetingballrooms and other hotel services.

Abdullah bin Ali Al Nabri, chairman

of the company, said that the projectwould form a new addition to thehotel and tourism sector in the Sul-tanate. It backed the governmenttrends in enhancement of infrastruc-ture in the wilayat of Sohar, headded.

‘In the next few days, we will signthree agreements; the design agree-ment with an internationalconsultancy firm in the Sultanate;an agreement for finance with a lo-cally operating bank and agreementwith an international company foroperating the project,” he said. The

project would create 200 job oppor-tunities for Omanis, he said addingthat the hotel’s management would,in cooperation with the Ministry ofManpower and the Ministry ofTourism, set an Omanisation plan.

Priority in employment would be forOmanis with some well experiencedexpatriates in the tourism field alsobeing employed, he said stressingthat there is a need for comprehen-sive training programmes in the fieldof hotels and hospitality for Omanisso as to ensure distinct services forvisitors, tourists and businessmen.

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Source: Times of Oman - March 10, 2008

North Ghubra, a few minutes fromthe beach and close to ministriesand embassies. One of the compel-ling attractions of the project is thatit is located within the heart of Mus-cat city, providing island of calm,greenery and water bodies whichcombine to offer a sophisticatedlifestyle unparalleled in Oman.Janayin Sama will have leadingbrands operating in the shoppingarcade, along with a world-classspa, restaurant, health club and rec-reational hall managed by renownedoperators.

In all, 175 exclusive residential unitswill come up in Janayin Sama’s threebuildings facing a green courtyard.The entire basement of the three

buildings is reserved for vehicleparking, with dedicated space fortwo vehicles to each resident.

The architectural design of JanayinSama has been conceptualised byarchitect Karan Grover, winner ofthe first Leeds Platinum award forgreen buildings in India.

Real estate management companyCluttons has been appointed the ex-clusive selling agent of the project.

Janayin Sama will be the onlyproject of its kind, which offers du-plex-pent houses with private pools.The ground floor will comprise du-plex apartments facing the greencentral courtyard. Shops and offices

will form only a small segment of thefacilities at Janayin Sama.

The second landmark will be a com-mercial building project, Al Rawaq,which will come up in the primeQurum area, between Nissan show-room and Omanoil headquarters.The commercial property is expectedto attract international corporatehouses. This commercial develop-ment features substantial basementparking and 44,000 square metresshowrooms and offices.

Spread over ground plus six floors,the offices will be available on leasein a wide range of areas, providingflexibility of space design.

MARKET REPORT 25

The Muscat Golf and CountryClub’s new brand identity of

‘Muscat Hills’ was unveiled by HisHighness Sayyid Haitham bin TariqAl Said, minister of heritage and cul-ture, at an exclusive launch eventheld at the Grand Hyatt Muscat.

A cherished dream and the brain-child of His Highness Sayyid Qaisbin Tariq Al Said, Muscat Hills willbring many benefits of champion-ship golf to Oman and rank amongstthe best golfing experiences in theregion. Anticipated to be the mostspectacular and challenging coursein Arabia, the first PGA-standard 18hole Par 72 championship green golfcourse in Oman is designed by theinternationally renowned Paul Tho-mas of Dave Thomas Associatesand integrates the sporting de-mands of a high quality champion-ship course with the natural beautyof the Omani landscape, contrastedby picturesque fairways, lushgreens and dramatic wadis.

The new logo is inspired by the“golf swing”, the most debatedtopic in the game and illustrates thegrace of motion while encapsulatingthe organic beauty of the project.

“Muscat Hills is easily the mostunique real-estate development inOman, as it was born not out of anycommercial motivation but purelyout of one man’s dream of giftinghis country with its first greenchampionship golf course,” ex-pressed Chandra Lahiri, group man-aging director of Muscat Hills.“There is little doubt that it will be amagnet for premium golf tourismand we are fortunate to have agroup of world-class partners tobring this project to fruition.”

Lahiri went on to say that a steeringcommittee of reputed professionalswas also constituted by His High-ness Sayyid Qais bin Tariq Al Saidto advise the management of theproject.

Muscat Hills comprises four aes-thetic and environmentally friendlyparts that includes a golf course, anexclusive gated residential develop-ment, boutique resort hotel and pre-miere Country Club in addition to atract of commercial land to housepremium office space, retail and en-tertainment.

The first phase of the residentialunits comprising 80 deluxe villasand 25 exclusive apartment blocksalong the periphery of the golfcourse have already been sold outand the next, and final, phase ofhigh-value luxury homes in nooksaround the golf course will be of-fered by invitation only.

He added: “Another noteworthyfeature at our project will be anacademy, not only to teach the gameto aspiring youngsters here, butalso to train Omanis in the highlyskilled vocations of golf coursemaintenance

SaSaSaSaSayyid Haitham tyyid Haitham tyyid Haitham tyyid Haitham tyyid Haitham tees ofees ofees ofees ofees off ‘Muscat Hills’ prf ‘Muscat Hills’ prf ‘Muscat Hills’ prf ‘Muscat Hills’ prf ‘Muscat Hills’ projectojectojectojectojectSource: Times of Oman - March 9, 2008

tribute to the credibility of TheWave, Muscat and success of theproject, it was a situation that re-quired immediate attention,” TheWave said here in a statement.

In an effort to address the situationand ensure complete transparency,the management had a dialogue withthe crowd and potential customerswere allowed access to the speciallyprepared tent in order to insure theirsafety and welfare. The registrationprocess soon followed just aftermidnight on March 8, and continueduntil 9am when everyone holding aregistration card has been offered achance to secure a property in thisrelease.

More than 3,000 properties will beoffered in this beachfront commu-nity. The Wave, Muscat, is unprec-edented in Oman and is much more

than simply a real estate develop-ment. It is helping to diversify theeconomic base of the country by at-tracting direct foreign investmentworth RO1 billion. It also adds thou-sands of jobs to local employmentand contributes to enrichingpeople’s lives in the heart of Mus-cat. More than 2,500 people are em-ployed on site and the project man-agement team has grown to 100people working towards making thisproject a success.

The Wave, Muscat has beenrecognised and rewarded with inter-national and regional awards fromprestigious organisations such asCNBC Arabian Properties and theUK-based Homes Overseas Maga-zine. The Wave, Muscat is a fullymaster planned community over-looking the Gulf Of Oman occupy-ing a total area of 2,500,000 square

metres along 6km of natural beach.The Wave, Muscat, once complete,will be home to 4,000 dwelling own-ers of all nationalities, a signature18-hole green golf course designedby the legendary Greg Norman, 300berth marina, three luxury hotels, vil-las, retail and restaurant outlets.

Located within a 10-minute drivefrom the centre of town, the commu-nity will be within driving distancefrom the numerous authentic attrac-tions of Muscat, while enjoyingworld-class amenities and facilities.The Wave, Muscat is being devel-oped through a joint venture com-prising Oman’s Waterfront Invest-ments (representing the Governmentof the Sultanate of Oman), NationalInvestment Funds Company (repre-senting Omani Pension Funds), andthe UAE-based Majid Al FuttaimGroup.


The Gulf's booming constructionindustry is feeling the heat of

soaring materials costs and labourshortages amid concern that supplypressures coud delay the comple-tion of projects.

The economy minister of the UnitedArab Emirates (UAE), whose con-struction and real estate sectorscontributed 23 percent of the eco-nomic output in 2007, has warnedthat supply constraints might slowconstruction in the area.

"Regional and international factorsthat could unexpectedly cause a re-cession (in construction) should bewatched, Sheikha Lubna al-Qassemitold an industry conference in AbuDhabi earlier this month.

Among the critical factors were"knowing the limit in terms of theavailability of building materials andlabour force," he said. Constructionin the Gulf, currently valued at 2.4trillion dollars (1.6 trillion euros), hasbeen hit by increased worldwide de-mand for building materials, as con-struction fever spreads to countriessuch as China.

The Gulf region has experienced itsown building frenzy over the past

few years on the back of record-high crude oil prices, which arepumping huge liquidity into theeconomies of Gulf CooperationCouncil (GCC) countries.

It was research firm Proleads that inNovember quoted the value of Gulfconstruction projects at 2.4 trilliondollars. This would rise to 2.5 trilliondollars (1.7 billion euros), if projectscurrently only at planning stageswere included, it added.

But this building boom in GCC mem-ber states -- Bahrain, Kuwait, Oman,Qatar, Saudi Arabia and the UAE --has put extra pressure on the supplyand cost of construction materialsand labour force. "There is a chronicshortage of resources. Clients arefacing a shortage of contracting ca-pacity while contractors are havingdifficulty sourcing labour and mate-rials," said a report by the MiddleEast Economic Digest (MEED) Con-tractors Survey 2007.

"The result is soaring materialscosts and wages, which in turn haveseen project costs soar," it added.

Giant UAE property developerNakheel said it was trying to offsetthe unexpected escalation in materi-

als prices in pre-arrangements withcontractors.

"We are formulating deals with con-tractors that will give us better pro-tection from cost escalation," saidMatt Joyce, managing director ofNakheel's Waterfront project inDubai.

"We've spent a lot of timeformalising 'locked-in' agreementsfor building materials such as steel.If you 'lock-in' with contractors earlyenough the price escalation risk canbe removed," he told AFP.

Dubai-based Emaar, the largest Arabproperty developer by market value,also acknowledged the impact ofsurging costs in January, sayinghigher "pre-operating expenses"would cut profits generated by mallsand hotels in 2008.

The property giant, currently con-structing the world's tallest tower,Burj Dubai, said its profits in 2008would grow at the same three-per-cent rate as last year.

An Emaar spokesman told AFP thatincreased construction costs hadnot caused delays to projects beingcompleted.

Gulf construction fGulf construction fGulf construction fGulf construction fGulf construction feels heat of supply shoreels heat of supply shoreels heat of supply shoreels heat of supply shoreels heat of supply shortagestagestagestagestagesSource: Times of Oman - February 20, 2008

333331 pacts f1 pacts f1 pacts f1 pacts f1 pacts for 5or 5or 5or 5or 575 housing units in Dhofar signed75 housing units in Dhofar signed75 housing units in Dhofar signed75 housing units in Dhofar signed75 housing units in Dhofar signedSource: Times of Oman - February 13, 2008

Thirty-one agreements for con-structing 575 housing units

worth RO26,265,472 were signed atthe office of the minister of stateand governor of Dhofar here yester-day.

The agreements were signed bySheikh Saif bin Mohammed AlShabibi, housing minister; andSheikh Mohammed bin Marhoon AlMa’amari, minister of state and gov-ernor of Dhofar, with 23 contractors.

The projects come in response tothe royal directives of His MajestySultan Qaboos bin Said during hisannual tours, aimed at ensuring thatmodernisation would reach all partsof the Sultanate.

The tours also aim at achieving fur-ther achievements for Omanis andsecuring better future for the coun-try and its sons.

The agreements include construc-

tion of 180 housing units in thewilayat of Thumrait, 140 at Shaleemand Al Halaniyat Islands, 235 at AlMazyouna, 10 at Aybout (1) and 10at Aybout (2).

The signing ceremony was attendedby the acting deputy governor ofDhofar, the chairman of Dhofar Mu-nicipality and the secretary-generalof the supreme committee for townplanning, a number of walis andCEOs of the contracting companies.

MARKET REPORT 27

Rising steel prices are proving tobe a damper on the ongoing in-

frastructure projects in the Sultan-ate. Steel prices have been on anuptick for some time now. It rosefrom RO90 per tonne in 2001 toabout RO400 per tonne in 2007.

Though the price rise is not Oman-

specific, it is affecting the construc-tion sector in the country. Globallysteel prices are currently on an up-swing.

Last month, ArcelorMittal, the big-gest steel producer in the world,said it would raise the price of itslong steel products in the Middle

East region by $30 per tonne fromJanuary 1.

Hyundai Steel, South Korea’s sec-ond-largest steel maker, said onWednesday it will raise prices ofsome steel products by up to 7 percent, reflecting soaring raw materialprices, Reuters reported.

Rising steel prices hit constructionRising steel prices hit constructionRising steel prices hit constructionRising steel prices hit constructionRising steel prices hit constructionSource: Oman Tribune - January 6, 2008

BankMuscat is gearing up tomove into a 32,000sqm state-of-

the-art head office building that willcome up at Airport Heights, Seeb bymid-2009.

The bank has entered into a 50-yearlease agreement with Internal Secu-rity Service Pension Fund, whichhas agreed to build a custom-de-signed head office complex for thebank. Work on the project, whichhas been estimated at RO36 million,has already commenced.

Speaking at a press conference an-nouncing the move, AbdulRazzakAli Issa, chief executive of the bank,said: “The new head office is de-signed to be a landmark building inthe Sultanate incorporating the lat-est technologies, security and con-veniences that will accommodatethe bank’s current and future re-quirements. The building will alsoreflect our vision and stature of be-ing a leading regional bank.” Thebank’s head office currently oper-ates out of 11 buildings in Muscat.

Waleed Al Hashar, member of thehead office project steering commit-tee for BankMuscat, said: “Our part-ner, Internal Security Service Pen-sion Fund, has awarded the contractfor construction of the new

BankMuscat head office project toGalfar Engineering and ContractingSAOG. The lead architects and con-sulting engineers of the project areWS Atkins International & Co; theproject manager is Mace Interna-tional Ltd and the IT and Securityconsultant is Sinclair Knight Merz(SKM). There are also various otherconsultants who are involved in theproject for other specialised areassuch as interior decoration andlandscaping etc. We are confidentthat the new building will meet theneeds and aspirations of all our cur-rent and future employees and fur-ther strengthen the perception thatBankMuscat is the best place towork in the Sultanate.”

John Cruiser of WS Atkins made apresentation about the design andpurpose of the new building. “Thenew BankMuscat building is an ex-ample of a greater level of architec-tural finesse. The design reflects acommitment towards a sustainablefuture, social responsibility and en-ergy efficient initiatives,” he said.

The proposed building has a host ofnovel features, like overhangs andscreen, automatic lighting controland variable air volume, in additionto facilities for social interaction,healthcare facilities, a crèche, spe-

cial features for the disabled, andadded security and safety measures.Designed to project the bank’s im-age of a corporate environment withan Omani identity, the building willreflect the bank’s vision for the fu-ture, its commitment to the public,and be a bold statement that de-mands attention.

According to bank sources, the newhead office building will bring with ita host of benefits. Besides provid-ing a unique address to Bank Mus-cat, it will lend an excellent workingenvironment to its staff and helpboost their morale and motivation.

The proposed building will also im-prove efficiency by reducing move-ment of staff and documents be-tween different head office build-ings in different places. There willbe higher customer satisfaction onaccount of their being able to carryout all transactions in one single lo-cation.

In addition to this, the new premiseswill have over 1,600 parking spacesfor customer and staff convenience.It will also offer a better businesscontinuity plan, as the location ofthe disaster recovery centre (inRuwi) will be outside the recom-mended 7km exclusion zone.

Bank Muscat tBank Muscat tBank Muscat tBank Muscat tBank Muscat to buildo buildo buildo buildo buildRRRRRO36m head ofO36m head ofO36m head ofO36m head ofO36m head offffffice in Seebice in Seebice in Seebice in Seebice in Seeb

Source: Times of Oman - February 10, 2008


RCI has announced an agree-ment with Allied Oman, the lei-

sure real estate enterprise owned bySalim Ali Nasser Aliyabi, to affiliatethe timeshare project at the BarkaResort.

The Barka Resort located 60km tothe east of Muscat consists of 65units destined for the timeshare mar-ket with a further 131 residentialunits intended for a rentalprogramme.

Inspired by the traditional Arabianarchitecture, each apartment will be

furnished with a full range of appli-ances and modern amenities. Set forcompletion in 2009, the developmenttargets the AGCC and expatriatecommunities. With easy access tothe airport, guests will experiencethe flavour of Omani hospitalityamidst a landscaped rural commu-nity that is adjacent to the beach.

Residents will benefit from free ac-cess to a beach club and the facili-ties of a five star hotel being builtwithin the same development.

An extensive range of amenities and

concierge services will be available,including a spa, country club, cin-ema and a selection of restaurants.Sports facilities, swimming poolsand water attractions add to its ap-peal as a family oriented resort. It’sclose to the famous Omani heritagesite of Barka Fort, the beautifulsprings at Nakhal and even a localOstrich farm.

“The Barka Resort is an excellent ex-ample of how Group RCI has the po-tential to add value to a developer’sproject,” said Nick Turner, managingdirector of Group RCI in the Middle

BarBarBarBarBarkkkkka Ra Ra Ra Ra Resoresoresoresoresorts joins Rts joins Rts joins Rts joins Rts joins RCI neCI neCI neCI neCI netwtwtwtwtworororororkkkkkSource: Times of Oman - December 15, 2007

Gulf SGulf SGulf SGulf SGulf Stttttone Companone Companone Companone Companone Company opens facty opens facty opens facty opens facty opens factororororory in Sohary in Sohary in Sohary in Sohary in SoharSource: Times of Oman - January 6, 2008

The factory of Mahajir Al Khaleej(Gulf Stone) Company was

opened at Sohar Industrial Estateunder the auspices of Mohammedbin Nasser Al Khusaibi, secretary-general of the Ministry of NationalEconomy, in the presence ofMaqbool bin Ali Sultan, minister ofcommerce and industry.

Al Khusaibi said that the factoryrepresented a new addition to theSultanate’s industrial sector, reaf-firming that the Omani industry had

witnessed significant growth. Hesaid that the Sultanate was puttingin tremendous efforts for develop-ing industries through providing in-centives and required infrastructure.

The minister of commerce and in-dustry said that the Sultanate hadsecured appreciable growth in theindustrial sector, particularly inSohar Industrial Estate, emphasisingthe role played by Sohar IndustrialPort and the mega industries at theSohar Industrial Estate.

Ahmed bin Mohammed Al Rasbi,chairman of the company, said thatthe idea behind establishing the fac-tory was production of materialsthat could be domestically and inter-nationally utilised by making use ofthe raw materials available in Oman.

The chief guest and the attendeestoured the various sections of thefactory, where they were briefed onthe stages of production of indus-trial marble by using high qualityquartz substance.

And closer to the Gulf, Indian steelmakers have raised prices by RO5 toRO10 a tonne across product cat-egories on rising prices of raw mate-rial such as coking coal and iron ore.

In the face of the relentless pricerise, the demand for setting up steelfactories in the Sultanate is rising.Some are also calling for subsidy on

imported steel to soften the blow forbuilders.

Mustafa Mukhtar Sayed, a sales ex-ecutive with Bahwan, blamed theprice rise on the unprecedentedconstruction boom.

“Steel is hard to come by in the localmarket and this has resulted in de-lays in the execution of many con-

struction projects. This problemcould be solved by establishingsteel factories,” Mustafa added.

Welyam, manager of Al Rami Con-struction Materials Co., said the cur-rent wave of price rise affects everyone because “it touches our dailyactivities and makes us unable tomeet our basic needs”.

MARKET REPORT 29

Accor Hospitality Middle Easthas announced the signing of a

new Sofitel hotel, the Sofitel Muscat& Spa. The opening, scheduled forJanuary 2011, will see the Sofitelbrand venture into the Sultanate forthe first time with over 230 roomsand a location on the Azaiba beachfront. Sofitel Muscat & Spa will beowned by Al Mashriq Hotels &Tourism and managed by AccorHospitality Middle East.

The major announcement affirmsAccor Hospitality Middle East’s ag-gressive development plans for theregion. A leading developer of allhotel segments, from budget to up-scale, the international hotel groupcontinues to expand its regionalportfolio of four brands — SofitelLuxury Hotels, Mercure, Novoteland Ibis and fully aims to reach itsambitious target of developing 70

hotels by 2011.

Says Christophe Landais, ManagingDirector, Accor Hospitality MiddleEast, who spoke at the ceremony:“We are thrilled to open yet anotherSofitel hotel in a brand new market.Oman is undeniably the region’semerging leisure capital; I believeour hotel will meet the growth in de-mand for the deluxe five-star hotelsector in the Sultanate and the re-gion, and will undoubtedly set thebenchmark with its contemporarylifestyle appeal, spa facilities andFrench flair, all symbolic of our mostupscale hotel brand.”

Sami Ahmed Macki, Managing Di-rector, Al Mashriq Hotels and Tour-ism, who was also present for theceremony, added: “We are delightedto sign this strategic developmentagreement with Accor Hospitality at

a time when the Sofitel brand is be-ing elevated in the internationalluxury hotel market. I believe theSultanate is ready to receive moreupper upscale international hotelbrands and so we anticipate a fruit-ful opening and partnership withAccor Hospitality.”

True to the new positioning of theSofitel brand, Sofitel Muscat & Spawill provide guests all the luxuries ofan elite expansive beach hotel, fromits well-being bedrooms to theunique luxury spa. Dining options atthe Muscat hotel are second tonone and cater to all age groups;the hotel offers three speciality res-taurants including a Japanese-themed restaurant, a barbeque rotis-serie, all-day-dining area, children’sclub restaurant and a teenager’sclub restaurant. It will also have alobby lounge, pool and theme bar.

Accor Hospitality plans Sofitel hotel in OmanAccor Hospitality plans Sofitel hotel in OmanAccor Hospitality plans Sofitel hotel in OmanAccor Hospitality plans Sofitel hotel in OmanAccor Hospitality plans Sofitel hotel in OmanSource: Oman Observer - December 12, 2007

Omagine Inc, the majority ownerof the proposed multi-million-

Omagine project, has announcedthe general contractor which willlead the construction of the 300-acreresidential and entertainment com-plex planned near Muscat. Consoli-dated Contractors Company Oman(CCC), which is the Omani subsid-iary of Consolidated ContractorsGroup SAL, will be responsible forall construction activities for thecompany’s Omagine project, said acompany statement.

Consolidated Contractors Group

SAL (CCG) is a worldwideorganisation with $5 billion in rev-enue and employs approximately125,000 people. The announcementis the second in a series of majorevents anticipated in the next fewweeks, culminating in the final stepneeded to begin construction.

“With CCC, we have a contractorwith a very strong reputation, a suc-cessful history of high-quality con-struction — on time and within bud-get — and a very active presence inOman,” said Frank J Drohan, Presi-dent of the company and of its sub-

sidiary Journey of Light (JOL),which is the majority owner of theproject.

Drohan said that an investment armof CCG and another Omani financialinvestor will each become minorityequity shareholders of OmagineSAOC, the company that is cur-rently being formed in Oman by JOLto build, own and operate theOmagine project. The company —through its 100 per cent ownershipof JOL — will own 70 per cent of theproject company’s equity. “We iden-tified CCG early on as a potential

ConsolidatConsolidatConsolidatConsolidatConsolidated Contracted Contracted Contracted Contracted Contractororororors winss winss winss winss winsmulti-million dollar Omagine contractmulti-million dollar Omagine contractmulti-million dollar Omagine contractmulti-million dollar Omagine contractmulti-million dollar Omagine contract

Source: Oman Observer - December 12, 2007

East.

“With our network of customer ser-

vice centres we offer Allied Omanthe opportunity of distributionthrough a global network. We

recognise the potential of the Omanimarket and appreciate what makes itdistinctive in the tourist market.”


The groundbreaking ceremony ofthe first phase of Al Madina

A’Zarqa — a visionary city devel-opment in Al Sawadi — was heldyesterday evening. The ceremonywas held under the auspices of HisHighness Sayyid Asaad bin Tareq alSaid, Representative of His Majestythe Sultan. It was attended by HisHighness Sayyid Haitham bin Tareqal Said, Minister of Heritage andCulture, members of the Royal fam-ily, Dr Rajha bint Abdulameer binAli, Minister of Tourism, diplomatsand dignitaries from across the re-gion and Oman.

Anees Issa al Zadjali, Chairman ofAl Sawadi Investment and Tourism(ASIT), which is developing theproject, also attended the function.In a welcome address, HH SayyidHaitham reiterated that “A RoyalDecree was issued in 1982 assigningall government lands at Al Sawadiarea for tourism purposes. AlMadina A’Zarqa came to reaffirmthis assignment of the area througha profound and precise reading forthe future of the place, and to keepabreast of the government’s initia-tives which are supportive of thetourism sector as per the stipula-tions of the royal decree.”

The project enjoys a number of ad-vantages not only as an integratedmodern resort but also the area itself

expresses an appreciable unique-ness, rich and natural beauty, dis-tinct environmental integrity thatensures all potential for success.“Al Madina A’Zarqa is planned tobecome a model for a lifestyle thatadapts to the surrounding environ-ment. The project has not excludedtraditional Omani architectural de-sign and construction; on the con-trary it is inspired by the architec-tural elements to be found in the lo-cal environment. Al Madina A´Zarqais planned to be a model for thoseseeking relaxation in an integratedcommunity that meets the need ofdaily life including family and workrequirements”.

HH Sayyid Asaad told reporters thatOman is looking forward to set upsuch projects, as it has several ad-vantages. “We are trying to have abalance between different areas (interms of development). . . . So thatall areas will be developed equallywithin the next 10 years. This willbenefit local people, and providethem with education and training,”HH Sayyid Asaad added. The firstphase of the project is due to be of-ficially released for sale tomorrowfeaturing a select group of proper-ties which will form part of the ‘townwithin the city’ — and which will beready for delivery by 2010. Furtherproperties will be released for sale inthe coming months.

The Blue City — a unique 32 squarekilometre project and a significantmetropolitan development in Oman— creates an entirely new city ofmore than 250,000 people and repre-sents an estimated $15 — $20 billioninvestment. The highlight of theevent was the laying of the founda-tion stone of the first phase by HHSayyid Asaad to mark the officialcommencement of the developmentand the birth of Oman’s new city.Guests at the gala ceremony werealso treated to a stirring musical per-formance by renowned singer Ste-fanie Rose Airey, accompanied byPaul Schwartz.

A short film titled A New City isBorn in Oman was aired. Shown intwo sections, the film depicted thepast and present of Omani architec-ture, and included an impressivepresentation of Al Madina A’Zarqa.Al Madina A’Zarqa will comprise aseries of compact communities, setwithin an extensive, dramatic coastallandscape. The small-scale build-ings borrow from traditional Omaniarchitecture, forming tight-knit clus-ters that offer privacy, peace andsafety. Roads will be curving andorganic, meandering and winding —offering surprises at every turn.Connections will be seamless, withopportunities for discreet car park-ing, combined with pleasantpedestrianised routes that are

Blue City kicBlue City kicBlue City kicBlue City kicBlue City kicks ofks ofks ofks ofks offfffffirst phase of developmentfirst phase of developmentfirst phase of developmentfirst phase of developmentfirst phase of development

Source: Times of Oman - December 11, 2007

partner who could handle the scopeof this development and the rapidnature in which it is unfolding,”Drohan said.

“They can mobilise the very sub-stantial manpower and equipmentresources required almost immedi-ately and they have the capability toexecute high quality work quicklyand efficiently. We are proud to beworking closely with one of the

most prominent contractors in theMiddle East to bring to life one ofthe most forward-looking projects inthis region today.”

The company’s planned Omagineproject is an integration of cultural,heritage, educational, entertainmentand residential components. Aspresently planned, Omagine will belocated on 1.2 million square metersof beachfront land facing the Gulf of

Oman just west of the capital Mus-cat.

The project also includes the con-struction and sale of approximately3,300 residential housing units in-cluding luxury villas, townhousesand apartments in addition to 450serviced apartments and 150 em-ployee apartments. The project isexpected to take between 4 to 5years to complete.

MARKET REPORT 31

Roca, the world-leader insanitaryware, is looking at a

three-digit growth in the Sultanateof Oman by capitalising on thebooming tourism sector.

With multibillion dollar integratedtourism complexes mushrooming inOman, the time is ripe to bag a sliceof the sanitaryware share in all up-coming projects, said VictorSchoone, Roca country manager —Middle East, during a function tointroduce the latest designer seriesfrom Roca.

The function was organised by theInfrastructure Group of KhimjiRamdas, the renowned businesshouse of Oman and the exclusivefranchisee for Roca in the country.

The new designer Roca serieslaunched at the show were fromworld-renowned designers like“Frontalis” designed by RafaelMoneo; “Element” by DavidChipperfield; and “Happening &Hall” by Ramon Benedito.

The function was attended by a vir-tual who’s who of Oman with re-nowned architects, engineers andconsultants in the field, valued cli-ents, contractors and consumers,representatives of variousorganisations covering both the pri-vate and public sector coming fromall over the Sultanate including

Sohar and Nizwa.

When asked about Roca’s marketshare in Oman, Victor Schoone said:“It all depends upon which segmentyou consider. When you considerall the different segments of thebathroom sectors, then obviouslywe have higher market share in themedium and higher segments.”

“What we would like to get insteadof a market share is the recognitionas a leader. A market leader usuallyhas a good percentage of marketshare. But we are definitely on agood path of growth in Oman,”Schoone added.

Roca, established in Spain in 1917,is the market leader in almost allcountries where its products aresold. It has factories and subsidiar-ies in over 115 countries across theglobe. Its world-class Roca DesignCentre, headquartered near Barcelo-na, has revolutionised bathroomsby introducing innovative and ver-satile products that adapt to thehabits and sensibilities of differentmarkets. The growing trend towardsviewing this private space as onewhere calm and well-being are para-mount, has fuelled Roca’s desire toprovide solutions to meet the variedpreferences of its consumers.

Roca’s specialisation — “Every-thing in Bathrooms” — includes

sanitaryware, faucets, bathtubs, ac-cessories, kitchen sinks, bathroomfurniture, hydromassage wellnessproducts among others. The company also produces a com-prehensive range of ceramic tiles inits state-of-the-art plant atBarcelona.

Khimji Ramdas Infrastructure Group,the well-known player in buildingmaterials with a slew of internationalbrands, is proud to have repre-sented Roca, in Oman, for the pasttwo decades.

With a wide network of showroomsand offices and a well-honed logis-tics and distribution network,Khimji’s provide the best-in-classservice to valued customers acrossOman.

The new initiative to increase theretail network with state-of-the-artoutlets at Muscat, Barka, Al Khoudand Sohar, is set to provide the cus-tomers across Oman the conve-nience of having the best productsat their very doorstep. The audiencewas welcomed by M. G. Chengappa— senior divisional manager, Build-ing Materials while N. S. VijayaKumar, general manager — Infra-structure Group, Khimji Ramdas ad-dressed the elite gathering on theoccasion and thanked them for theircontinued support, cooperation,and valued business.

Leading sanitarLeading sanitarLeading sanitarLeading sanitarLeading sanitary wy wy wy wy ware fare fare fare fare firmirmirmirmirmttttto tap to tap to tap to tap to tap tourism boom in the sultanatourism boom in the sultanatourism boom in the sultanatourism boom in the sultanatourism boom in the sultanateeeee

Source: Times of Oman - December 06, 2007

shaded and cool.

ASIT has established very highstandards in this project. Enka fromTurkey and Elliniki Technodmikifrom Greece, the shareholders of theOmani company AECO Develop-ment, which is responsible for thefirst phase of this project, are fullycommitted to the target. The tempo-rary city, which will accommodate

more than 6,000 people working onthis project, as well as the infra-structure of this large job-site arenearing completion.

The first team of experts — consist-ing of more than one hundred andfifty people — has been working fe-verishly for a year now in close co-operation with the respective teamsof ASIT and all the government de-

partments involved to prepare forthe beginning of work.

More than 70 million working hoursand almost one million cubic metresof concrete will be required for theconstruction of phase one of theproject, which involves more thanone million five hundred thousandsquare metres of buildings and therespective urban infrastructure.


Al Sawadi Investment and Tour-ism (Asit) appointed Foster+

Partners to develop the master planfor Al Madina A’Zarqa (The BlueCity), the most significant metropoli-tan development in Oman.

One of the foremost architecturalfirms in the world and designers oficonic structures such as Millau Via-duct in France, Swiss Re Headquar-ters in London, Hong Kong’s ChekLap Kok airport and the HearstTower in New York, Foster + Part-ners are tasked with developing themaster plan for the city with a focuson delivering the modern essence ofArabia, building on strong Omaniheritage and history without com-promising on modernity and quality.

“Al Madina A’Zarqa (The Blue City)

is one of the most significant con-struction projects in the MiddleEast,” said Anees Issa Al Zadjali,Chairman, Asit.

“This metropolitan development willserve as an incubator of change forOman, raising its international cre-dentials as a place for tourism, in-vestment and living where the trueessence of Arabia is preserved,honoured and respected. This is achallenging yet rewarding brief,”said Gerard Evenden, senior partner,Foster+Partners.

“The scheme for (Al MadinaA’Zarqa) Blue City offers an excitingopportunity to create a new modelfor living and a new destination forOman. It also brings with it tremen-dous responsibility – to its future

community, to the ecology of thearea and to the productivity of theregion. With its compact grain anddefined courtyards, Al MadinaA’Zarqa (The Blue City) is informedby Omani architectural traditionsand modern needs. Designed togrow organically over time, the mas-ter plan is richly layered with a care-ful mix of education, knowledge andlight industries.”

Al Madina A’Zarqa (The Blue City)project is supported by integratedtourism legislation on freehold prop-erty ownership that recognises in-heritance laws from the purchasers’country of origin. The project willcreate an entirely new city of morethan 250,000 people and representsan estimated $15 - $20 billion totalinvestment.

FFFFFostostostostoster+Per+Per+Per+Per+Pararararartnertnertnertnertners ts ts ts ts to design The Blue Cityo design The Blue Cityo design The Blue Cityo design The Blue Cityo design The Blue CitySource: Oman Tribune - November 20, 2007

Integrated tourism complexes JebelSifah and Salalah Beach are all set

to become the hot new tourism ad-dresses in Oman with their officiallaunch yesterday.

The two projects were unveiled yes-terday by Muriya Tourism Develop-ment, the project promoter, atShangri-La’s Barr Al Jissah Resort &Spa under the auspices of Ahmedbin Abdulnabi Macki, minister of na-tional economy and deputy chair-man of the Financial Affairs and En-ergy Resources Council.

A huge number of Omani and inter-national potential investors, a hostof dignitaries including ministers,undersecretaries, members of theRoyal Family were in attendance atthe grand function held amidst dra-matic settings of the amphitheatre atShangri-La.

Dr Rajiha bint Abdul Amir bin Ali,Oman’s minister of tourism; and

Samih Sawiris, chairman of MuriyaTourism Development, unveiled theplans of the diverse range of com-mercial, tourism and high-end luxuryreal estate available at Salalah Beachand Jebel Sifah.

Muriya was established in March2006, as a joint venture betweenEgypt’s Orascom Hotels & Develop-ment (70 per cent) and Omran (30per cent), representing the Ministryof Tourism, Government of Oman.

Jebel Sifah and Salalah Beach withan initial investment of over $400million will be bustling communitiesincorporating more than four hotelseach, villas and apartments, first-class marinas and marina towns, 18-hole PGA golf courses, restaurants,and prestigious retail outlets.

Potential investors who gathered atthe launch function expressed keeninterest in the more than 250 apart-ments and 160 villas, which are up

for sale at the two projects. A salesteam was on hand to offer furtherassistance to potential buyers.

The first phase of the two projectsto be completed in five years, willcomprise a total of 550 villas and1,200 apartments.

In exclusive comments to Times ofOman, Ahmed bin Abdulnabi Mackisaid that the two projects are ex-pected to add more than 4,000 jobsto the local labour market and con-tribute greatly to the developmentof tourism in the country.

“Jebel Sifah and Salalah Beach aretwo great projects of course, andwill contribute not only to the devel-opment of the country, but also tothe tourism sector, because theprojects will contain almost fourmore hotels each and golf coursesbesides adding more than 600 hous-ing units in the first phase,” saidMacki.

Jebel Sifah, Salalah Beach projects unveiledJebel Sifah, Salalah Beach projects unveiledJebel Sifah, Salalah Beach projects unveiledJebel Sifah, Salalah Beach projects unveiledJebel Sifah, Salalah Beach projects unveiledSource: Times of Oman - November 21, 2007

MARKET REPORT 33

The Wave, Muscat yesterdaysaid that the response to the

launch of the Shoreside Villas andthe luxurious Almeria South Apart-ments was outstanding.

Just over 100 properties were soldout within just a few hours. Theproperties at Almeria South offer thefirst opportunity to purchase free-hold apartments within the Sultan-ate, with residents living at the heartof the vibrant marina village. Thedemand for these 1, 2 and 3 bed-room properties was extremely high.

The release of Shoreside villas,whilst offering a completely differ-ent lifestyle to that of apartment liv-ing, was also received with great en-thusiasm. Residents at ShoresideVillas will benefit from peace andtranquillity being situated just min-utes away from both the 6km natural

beach, and the park areas.

The Wave, Muscat is being devel-oped through a joint venture com-prising Oman’s Waterfront Invest-ments (representing the governmentof the Sultanate of Oman), NationalInvestment Funds Company (repre-senting the Omani Pension Funds),and the UAE-based Majid AlFuttaim Group.

Speaking about the response to thissales launch, John Langford, vice-president sales and marketing, TheWave, Muscat said: “We were de-lighted at the tremendous responseto the release of the Almeria Southapartments and the Shoreside villas.The properties offer two differentlifestyles for residents, which cometogether to create the truly uniqueproposition that is offered at TheWave, Muscat.

“We thank all of our customers,some of whom queued for 24 hoursto secure their dream home. This isyet another indication that TheWave, Muscat is seen as the mostdesirable place to live.”

Overlooking the Gulf of Oman, TheWave, Muscat is a fully masterplanned community occupying a to-tal area of 2,500,000 square metresalong 6km of natural beach. TheWave, Muscat, will be home to 4,000dwelling owners from all nationali-ties, a signature 18 hole green golfcourse designed by Greg Norman,300 berth marina, four luxury hotels,villas, retail and restaurant outlets.Located within a 10-minute drivefrom the centre of town, the commu-nity will be within driving distancefrom the numerous authentic attrac-tions of Muscat while enjoyingworld class amenities and facilities.

The WThe WThe WThe WThe Waaaaavvvvve sells 1e sells 1e sells 1e sells 1e sells 100 pr00 pr00 pr00 pr00 properoperoperoperopertiestiestiestiestiesin just a few hoursin just a few hoursin just a few hoursin just a few hoursin just a few hoursSource: Times of Oman - November 05 2007

Muriya, one of the single largest tourism development com-

panies in Oman and a joint venturebetween Egypt’s ‘Orascom Hotelsand Development’ and Oman’s gov-ernment- owned company ‘Omran’will announce the initial plans of thereal estate development in its twoIntegrated Tourism Complexes (ITC)at an event to be held at Shangri-La’s Barr Al Jissah Resort and Spaon Tuesday.

At the invitation-only event, SalalahBeach and Jebel Sifah’s diverserange of commercial, tourism andhigh-end luxury real estate will beunveiled, Cyril Piaia, CEO of Muriyasaid while addressing a press con-ference on Monday.

“We want our guests to feel as

much a part of the Salalah beachand Jebel Sifah communities as wedo. Using many exciting and inno-vative methods, we plan to repro-duce the very essence of what thesetwo developments are all about,with a view to generating excitementand curiosity amongst our potentialcustomers.

Once the master plans are unveiled,guests will be able to understandthe correlation between the futurecommunities, and what we have cre-ated for them,” he said.

Muriya has other ambitious projectsin various locations across Oman,including a City Complex in Muscatand Al Sodah Island. The total in-vestment for all the four projects isover $850 million, Tamer Shendidy,

Vice-President Development,Muriya Tourism Development re-vealed.

The Phase-1 of Salalah beach andJebel Sifah project is expected to becompleted in five years, he said.Work is already underway in SalalahBeach and Jebel Sifah will begin bythe end of December.

“Omani nationals and expatriatescan buy residential properties at ourprojects,” he said. “Our aim is tocreate tourist destinations, whichhave the branding and flavour ofthe diversified nature and culture ofthe Sultanate,” he added.

At the launch event, the projectmodels will be unveiled and proper-ties will go on sale, Piaia said.

MuriyMuriyMuriyMuriyMuriya ta ta ta ta to launco launco launco launco launch prh prh prh prh properoperoperoperoperty dety dety dety dety devvvvvelopment prelopment prelopment prelopment prelopment projectsojectsojectsojectsojectsSource: Oman Tribune - November 20, 2007


Muriya Tourism Development Company is making goodprogress in line with shareholderexpectations with a variety ofambitious projects in and acrossOman, including Sifah, Salalah andAl Sodah Island with a totalinvestment of over $850 million,according to a company pressrelease.

Set up in the Sultanate of Oman inMarch 2006 as a joint venturebetween Orascom Hotels andDevelopment with 70 per centholdings and the Omani Govern-ment (Omran) with 30 per centholding, Muriya is the single largesttourism development company inthe Oman.

The company is developing virginlands and providing a vast array offacilities, including real estatedevelopment, hotels, marinas, golfcourses and more. And all this isbeing done with the support andcooperation of its partners Omranand Eqyptian pioneers, Orascom,said the press release.

Eng. Cyril Piaia, the new Frenchchief executive officer of Muriyasaid: “This is a new start for Muriya.The next few months will witnesssubstantial developments. Two ofour projects, namely Jebal Sifah andSalalah Beach, with a combined landbank of over 21 million squaremetres, are progressing at a steadyrate and we look forward to an-

nouncing further investmentopportunities shortly.”

Piaia said: “Muriya is committed todevelop sustainable multi facetedcommunities whilst developingtourism-related destinations with adiverse range of products, includingcommercial, tourism and high-endluxury real estate. Our real estateoffering will provide diversity inarchitectural style whilst integratingwithin the Omani culture andadhering to local tastes andtraditions.” He added: “Our proper-ties will pose an attractive proposi-tion for potential investors who canchoose from units spread aroundgolf courses, beach front, marinasand hotels.”

MuriyMuriyMuriyMuriyMuriya pra pra pra pra projects in Oman wojects in Oman wojects in Oman wojects in Oman wojects in Oman worororororththththth$850 million under$850 million under$850 million under$850 million under$850 million underwwwwwaaaaayyyyy

Source: Oman Tribune - 17 October 2007

Oman Cement Company (OCC)will sign a turnkey project

agreement with China NationalBuilding Material Equipment Corpo-ration (CNBMEC) today to build anew production line with a capitalexpenditure of $162 million. The newproduction line, which is thecompany’s third line, will have a ca-pacity to produce 4,000 tonnes perday (tpd) of clinker, Sharif al Sadaa,Chief Operating Officer of the com-pany told the Observer. The newproject, which will take another 25months to complete, will be readyby end-2009.

Sharif said that although Oman Ce-ment has an installed capacity toproduce 2.4 million tonnes per an-num of cement, its clinker capacityis limited at 1.2 million tonnes perannum. As a result, the company im-ports almost 800,000 tonnes of clin-

ker every year from Thailand and In-dia for the cement mill, which is veryexpensive. The company aims atproducing 2 mtpa of cement. “Oncethe plant is ready, we need not haveto rely on imported clinker,” henoted. CNBMEC, a subsidiary ofChina National Material IndustryGroup, is capable of providing com-plete sets of equipment for cementproduction lines with a capacity ofup to 10,000 tonnes per day of clin-ker.

Oman Cement’s Rusayl cement plantwas completed in 1983 to produceordinary portland cement and sul-phate resistant cement. OCC subse-quently added oil well cement in itsproduct portfolio. In 1999, clinkeringcapacity was expanded to 1.2 milliontonnes per annum. OCC’s qualitycontrol is supported by its own cen-tral laboratory consisting of robot-

ics, X-ray spectrometers, laser par-ticle size analysers and computer-ised physical properties testingequipment. There has been a phe-nomenal growth in cement demandin the whole Gulf region, particularlyin Oman.

The country’s two cement produc-ers — Oman Cement and Raysut Ce-ment — have achieved phenomenalgrowth in sales volumes and hasbeen taking advantage on the risingselling price of cement. “Cement isselling like hot cakes as there is ashortage in the market,” an officialwith a cement firm said. “There hasbeen a 20 per cent growth in de-mand in recent months,” the officialadded. This follows the recent un-usual weather conditions in Muscatand neighbouring areas, which ne-cessitated reconstruction of resi-dential villas and office apartments.

Oman Cement Co. tOman Cement Co. tOman Cement Co. tOman Cement Co. tOman Cement Co. to sign pacto sign pacto sign pacto sign pacto sign pactfor $162 million expansionfor $162 million expansionfor $162 million expansionfor $162 million expansionfor $162 million expansion

Source: Oman Observer - 29 October 2007

MARKET REPORT 35

Seeb and Salalah airports will beexpanded at a cost of more than

$3 billion, according to Undersecre-tary for Civil Aviation Affairs at theMinistry of Transport and Commu-nications HE Mohammed Bin SakharAl A’amri.

New airports are also on the anvil atSohar and two other important tour-ist sites, he told the 36th session ofthe International Civil AviationOrganisation’s (ICAO) general as-sembly in Canada.

Al A’amri said that the annual ca-pacity of Seeb International Airportin the first phase of the expansion

will be 12 million passengers. Thesecond phase will handle 24 millionpassengers. The annual capacity ofSalalah airport after the first phaseof expansion will be two million pas-sengers.

As for the other three airports, AlA’amri said two will be constructedat two important tourist sites whilethe third will be built at Sohar.

Al A’amri said the Sultanate had is-sued the new law on civil aviation in2004 and it contained all the ICAOlegal and technical recommenda-tions. The executive regulations ofthe Civil Aviation Law were also is-

sued in 2007. It contained importantdetailed procedures for setting upmaintenance firms and establish-ments.

He said the Sultanate has joined allinternational treaties, issued the na-tional programme for aviation, andpaid attention to training.

He said, the Sultanate of Oman hassupported the efforts of the ArabAuthority for Civil Aviation by rati-fying the Air Transport ServicesLiberali-sation Agreement. He saidthe Sultanate was supporting theopen skies policy to boost air trans-port.

$3-billion expansion plan$3-billion expansion plan$3-billion expansion plan$3-billion expansion plan$3-billion expansion planfffffor Seeb,Salalah airor Seeb,Salalah airor Seeb,Salalah airor Seeb,Salalah airor Seeb,Salalah airporporporporportststststs

Source: Oman Tribune - 26 September 2007

The United Business Establish-ment has announced its prepa-

rations for the launch of Barka Tour-ism Resort project, which includesresidential units, an internationalstandard hotel and entertainmentfacilities.

The project, worth over RO30 mil-lion (including Omani and Gulf in-vestment), is the only one of its kindthat provides partial and completepossession as per the laws of theMinistry of Tourism.

Salim bin Ali Al Siyabi, chairman ofUnited Business Establishment, saidthat all designs and the project–re-lated procedures were ready for thefinal approval of the Ministry ofTourism.

The resort, covering an area of

180,000 square metres, is located inthe wilayat of Barka in the AlBatinah region, Siyabi said, adding :“We will shortly begin Phase I ofthe project by constructing 360 resi-dential units for retail sale in addi-tion to other 360 residential units forwhole sale (specified for Omanisand Gulf citizens).

The project is an integrated onewith single/two/three bedroom unitsat 65 square metres, 85 squaremetres and 105 square metres, re-spectively.

On the location of the project, hesaid the wilayat of Barka enjoyedbeautiful beaches and other tourismpotentials. It is also adjacent to heri-tage sites in the wilayats of Nakhaland Al Rustaq, in addition to thepresence of various tourism projects

of Al Nahda Resort and The BlueCity.

The project required a spaciousarea, which was not available inMuscat.

The future vision necessitates es-tablishing projects outside Muscatas it (Muscat) would not be able toaccommodate all investmentprojects in the future, he said.

The project is expected to provideover 1,500 job opportunities forOmanis, he said, adding that the es-tablishment was keen on employingOmanis in the various departmentsof the project, adding that theywould coordinate with the universi-ties and colleges to make availablethe well–trained and qualified na-tional cadre.

Phase I of BarPhase I of BarPhase I of BarPhase I of BarPhase I of Barkkkkka Ta Ta Ta Ta Tourism Rourism Rourism Rourism Rourism Resoresoresoresoresortttttprprprprproject toject toject toject toject to begin soono begin soono begin soono begin soono begin soon

Source: Oman Daily Observer - 08 October 2007


Al Sawadi Investment and Tour-ism (ASIT) has finalised the ea-

gerly anticipated launch plans forThe Blue City - a unique 32 squarekilometre project and the most sig-nificant metropolitan developmentin Oman.

It will create an entirely new city ofmore than 250,000 people and repre-sents an estimated $15 - $20 billiontotal investment.

ASIT has set out the timetable forthe launch of the project and salesof freehold property in its firstphase. Unlike many similar projectsfound in the region, The Blue Cityproject is the largest development inOman, supported by integratedtourism legislation on freehold prop-erty ownership that recognises in-heritance laws from the purchasers’country of origin, supportingOman’s drive to attract foreign di-rect investment to develop its tour-ism potential and economic growth.

’The dynamics of The Blue Cityproject and its importance to Omancannot be underestimated,’ saidAnees Issa Al Zadjali, Chairman ofASIT. ‘The success of the firstphase of this project is crucial tosucceeding phases so it has beenimperative to ensure our plans are inline with projected market trendsand forces.

’ASIT is very pleased to announcethat the master-plan and initial art-ists’ impressions of the first phasewill be revealed in October. The firsttranche of retail sales will commencein November. Construction on sitehas already begun and vertical con-struction is scheduled to commence

in December 2007.’

Chris Steel for Hamptons remarked:’We are expecting tremendous de-mand for the Blue City residentialproperties, from within the regionand further afield, particularly theUK where interest levels are ex-tremely strong”.

Visuals and details of the master-plan for the first phase of the citywill be unveiled in the coming weeksand will show the unique architec-tural style and approach to urbanplanning which will characterise theBlue City project and set it apartfrom other Middle East property de-velopments.

‘Extensive research has been under-taken to find organisations and enti-ties that share the vision of TheBlue City in creating a harmoniouscommunity on one of the mostbeautiful natural coastlines in theregion. Our master-planning and ar-chitectural designs have been fo-cused on delivering a modern es-sence of Arabia which builds on ourstrong Omani heritage and history,but does not compromise on moder-nity and quality. Together these fac-tors will distinguish the Blue Cityproject and provide a unique set ofhighly appealing characteristicswhich we believe will be very attrac-tive to buyers from across theworld, as well as from Oman and theMiddle East itself,’ added Al Zadjali.

The Blue City’s first phase is one ofthe most vital components of theentire project due to its value andthe unique key tourism related ele-ments it encompasses. It will accom-modate 25,000 residents and local,

regional and international visitorsand is primarily a residential andtourism development with leisureand retail components.

’The first phase represents a sub-stantial standalone project in itsown right but it is also intended tofit as a component of the overall de-velopment,’ added Al Zadjali.

’The Blue City is being designed asa fully integrated live-in communityand has a wider role as an importantpart of Oman’s aims to be the pre-eminent tourism destination for theMiddle East.’

AECO, a partnership betweenAKTOR of Greece and ENKA ofTurkey has been appointed as con-tractors for the first phase of TheBlue City which will see an initialarea totalling 5.5 square kilometres(2.12 square miles) or 17.2% of theprojected final site land of 32 squarekilometres (12.36 square miles) de-veloped. Al Zadjali added that fur-ther announcements on third-partycontracts and partners will also be-gin shortly.

’The Blue City is one of the most im-portant developments in Oman. It ismuch more than just a real estate de-velopment. We are creating a citywhich will take Oman into the nextcentury, providing not just homes,but new jobs, new industries and alegacy for the future,’ he added.

’As the cornerstone of the new city,the first phase of the developmentwill set the tone and style for whatis to follow and will offer wider op-portunities beyond freehold prop-erty.

Multi-billion project Blue CityMulti-billion project Blue CityMulti-billion project Blue CityMulti-billion project Blue CityMulti-billion project Blue Cityannounces development timetableannounces development timetableannounces development timetableannounces development timetableannounces development timetable

Source: AmeInfo - 18 September 2007

MARKET REPORT 37

A number of international contractors are among 16 firms that

have applied to prequalify for a gov-ernment contract involving the con-struction of a major flood protectionsystem across Wadi Adai in MuscatGovernorate.

The project will be the first of anumber of equally large flood pro-tection systems proposed to beimplemented in flood prone areas ofthe Sultanate, notably Al Khoudh,Sur, and parts of the Batinah region.Implementation of these schemes ispart of the Oman government’s ef-forts to bolster flood defencesaround the Sultanate in the wake offlooding caused by the adverse

weather conditions last June.

The Ministry of Regional Munici-palities, Environment and Water Re-sources is overseeing the implemen-tation of the flood protection sys-tem across Wadi Adai. The aim is toregulate the monstrous volumes ofwater that flow through the wadiand its tributaries in the event of amajor downpour.

During the June flood event, an esti-mated 95 million cubic metres of wa-ter flowed downstream through thewadi, say officials. A mix of local, re-gional and international companieshas submitted offers in response tothe Tender Board’s invitation to bid-

ders to prequalify for the project.Those that responded by lastMonday’s deadline were: NagarjunaConstruction Company, Desert LineProjects, Consolidated ContractorsCompany, Shwar International, ArabCentre for Commerce and Real Es-tate, Strabag Oman and SinohydroCorporation.

Sambu Construction, Sezai Turkes-Feyzi Akkaya, Zarubeshv Dstroy,Gamuda Berhad (Qatar Branch),Andrade Gutierrez, Gammon Indiaand OHI, BFS Group, SaliniCostruttori, and SEW Construc-tions. Eighteen other firms that col-lected bid documents declined. Ac-cording to officials, three major

International firms line upInternational firms line upInternational firms line upInternational firms line upInternational firms line upfffffor Wor Wor Wor Wor Wadi Aadi Aadi Aadi Aadi Adai dam prdai dam prdai dam prdai dam prdai dam projectojectojectojectoject

Source: Oman Observer - 05 September 2007

The Wave Muscat is helping topioneer freehold ownership in

the Sultanate, according to NickSmith, Chief Executive Officer of theprestigious integrated oceanfronttourism and residential developmentat Al Athaiba. Speaking at meetingof the European Business PeopleForum at the Inter-Continental Mus-cat on Monday, Smith noted thatownership interest in properties of-fered by the project remained verystrong.

The Wave Muscat is being devel-oped through a joint venture com-prising Oman’s Waterfront Invest-ments (representing the Governmentof the Sultanate of Oman), NationalInvestment funds Company (repre-senting the Omani Pension Funds),and the UAE-based Majid AlFuttaim Group. In his address, Smith

illustrated the success of The WaveMuscat model, acknowledging therapid pace at which developmentwas taking place at The Wave, andits significant impact on the lifestyleof people in Muscat.

“Oman, has reinvented itself, and israpidly moving ahead with its mac-roeconomic objectives. The countryhas political stability, strong eco-nomic performance and a positiveattitude to business. It’s the bestkind of tangible and highly visibleArab prosperity,” Smith said duringhis presentation. “The number ofvisitors to the Sultanate has in-creased dramatically, thanks to ma-jor investments in marketing ‘Desti-nation Oman’,” Smith continued. Hefurther reiterated that a significantproportion of incoming investmentswere foreign investments showing

the long-term confidence of foreigninvestors in the Sultanate.

Plans to develop The Wave startedin 2004 against the backdrop of afreehold boom in the Gulf. “Our firstrelease of property in early 2006 re-ceived an overwhelming responseand the second release in November2006 was also equally popular, andeven though the price points wereraised significantly the enthusiasmto buy remained the same.

The Royal Decree in January pro-vided a robust legal basis to TheWave, Muscat. We have introducedan early reservations service thatallows buyers to reserve propertywithout price guarantees, andstraightforwardness and transpar-ency have become hallmarks of theway we run the project.”

The WThe WThe WThe WThe Waaaaavvvvve Muscat pioneere Muscat pioneere Muscat pioneere Muscat pioneere Muscat pioneersssssfreehold ownership in the sultanatefreehold ownership in the sultanatefreehold ownership in the sultanatefreehold ownership in the sultanatefreehold ownership in the sultanate



Leading regional real estate prop-erty solution provider Eqarat.

com yesterday launched operationsin Oman, heralding innovative e-ser-vices that promise to add momen-tum to the burgeoning sector in theSultanate. Eqarat.com Oman is ajoint venture initiative by the UAEcompany in association with AlBalushi Investments and Al Arabiyaal Aqariya from Kuwait.

The announcement was made at amedia briefing attended by Ahmedbin Suwaidan al Balushi, Chairmanof Al Balushi Investments, Ali alRahma, Chief Executive Officer ofEqarat.com, Mufeed Abdal, GeneralManager of Al Arabiya al Aqariya,and Hussein Habib, General Man-ager of Al Balushi Investments.Eqarat.com Oman is an ideal plat-form for property shopping throughthe Internet, Al Rahma said.

Eqarat.com has vast experience inoffering real estate solutions tai-lored to the regional needs of inves-tors and customers, he said, addingthat the company is specialised inproperty management and real es-tate transactions for individual in-

vestors and developers.

The company can provide feasibilitystudies for new projects and is keenon sharing its knowledge, know-how and experience in the real es-tate sector, Al Rahma pointed out.The company has a wealth of data-base on property in the Gulf region,he added. “Our intention is to havea slice of the real estate pie in Oman.Eqarat.com can provide added valueservice to customers and we havethe ability to showcase what themarket is offering under one plat-form.

We can provide total sales solu-tions, including money transactionthrough an electronic payment gate-way. We provide total solutions, in-cluding finance, home insuranceand furnishing, to home seekers andinvestors,” Al Rahma said. Thelaunch of Eqarat.com Oman atInterContinental Muscat was at-tended by leaders of the real estateindustry.

Eqarat.com was founded in theUnited Arab Emirates 16 years agoand is one of the leading real estate

service companies in the MiddleEast. “We intend to build on ourrecord by focusing on Eqarat.comOman and helping it grow into a glo-bal player offering diverse productsthat will meet the increasing demandof this region. Through secure, pro-fessional services designed tooptimise client investment returns,Eqarat.com has seized the initiativein worldwide property e-solutions,”added Al Rahma.

Hussein Habib said: “We are de-lighted to partner with Eqarat.com.This partnership will provide uswith global expertise in the real es-tate industry, which will help boostour regional market and increasevalue by bringing stronger businessrelationships within the Gulf re-gion.”

Al Balushi Investments is an Omanbased company with projects andpartnerships with renowned medicaland therapeutic organisations, in-cluding Welcare. Recently, AlBalushi Investments started devel-oping housing, commercial andtourism estates for Omani and Gulfinvestors.

Eqarat.com launches innovativeEqarat.com launches innovativeEqarat.com launches innovativeEqarat.com launches innovativeEqarat.com launches innovativereal-estatreal-estatreal-estatreal-estatreal-estate sere sere sere sere servicesvicesvicesvicesvices


dams are envisioned along WadiAdai and its tributary. The first —the Flood Protection Dam in WadiAdai — will retain the flows fromWadi Adai just above the entranceof the wadi gorge, and will be themain flood protection component inthe entire project. Two other damsare planned at specific points fur-ther downstream and will be built inseparate contracts.

As part of the main Flood ProtectionDam, the selected contractor willconstruct a concrete face rockfill

dam (CFRD) of around 6,000-8,000-metres length, some 20 m above thenatural ground level. Some 3 millioncubic metres of grouting will be re-quired as part of the construction ofthe CFRD. Also as part of theproject, the contractor will also berequired to build 2-3 free overflowconcrete spillways and an appurte-nant spilling basin, leading to theexisting downstream wadi channels.Provision must be made for the in-stallation of valves for the con-trolled release of reservoir water intothe wadi downstream of the dam.

A tender for the actual constructionof the dam is expected to be floatedin October this year, with actualconstruction work likely to com-mence in January 2008. Construc-tion will be completed by mid-2010.The Wadi Adai Dams Project is de-signed is to provide a greater degreeof protection to Qurum area againstsevere flooding that results in lossof life and damage to property, agri-cultural land and infrastructure inthe area. It is also aimed at enhanc-ing water resources throughgroundwater recharge.

MARKET REPORT 39

During the hot summer months,whilst much of Oman has taken

the opportunity for vacation, con-struction at The Wave, Muscat hasbeen progressing at an aggressiverate, as plots that sat vacant only afew months ago suddenly findthemselves supporting the super-structure of new villas andtownhouses. Over 200 million rialsin contracts have been let by TheWave and that number is clearly re-flected by the stark progress thathas been made in creating this newcommunity.

The project has consolidated itsgrowth strategy following the recentunusual weather conditions, whichoccurred along the Oman coastline.“Our commitment to growth, timelydelivery of projects and customersatisfaction is unshakeable,” says .Eng. Abdullah bin Abbas binAhmed, Chairman of the Board ofDirectors of The Wave, Muscat.

The Wave, Muscat is constantlyworking towards successfully align-ing their expertise in the differentgovernment and public sectors with

the Sultanate’s vision for the future.Over the past two months the teamat The Wave, Muscat has beenfaced with constant challenges thathave risen over the course of amega-project, from the day to daylogistical grind to handling unusualweather conditions; every indi-vidual working at The Wave hascome together to continue to makethis project a success.

The Wave, Muscat, is a Joint Ven-ture between Waterfront Invest-ments (representing the Government

Construction progressing atConstruction progressing atConstruction progressing atConstruction progressing atConstruction progressing atThe WThe WThe WThe WThe Waaaaavvvvve at a fast pacee at a fast pacee at a fast pacee at a fast pacee at a fast pace

Source: Times of Oman - 20 August 2007

A number of leading Omani construction firms are bidding for a

major contract to build an inter-change on the Batinah Highwayleading to the Port of Sohar. Theproject, which will be financed andoverseen by the Ministry of Trans-port and Communications, is the lat-est addition to the burgeoning infra-structure being created in tandemwith Sohar’s development as an in-dustrial port city.

The interchange is designed toserve not only the Port of Sohar, butalso a number of major industrial un-dertakings under development inthe vicinity of the port. It willstreamline traffic flows along theBatinah Highway, as well as enablethe smooth flow of heavy vehiclesbetween the port and industries lo-cated on the other side of the high-way. Six well-known contractingfirms — Desert Line Projects, AlAdrak Trading & Contracting Co,Consolidated Contractors Co,Larsen & Toubro (Oman), Nagarjuna

Construction Co and Shanfari Trad-ing Co — are looking to bid for thecontract, expected to cost severaltens of millions of Omani riyals.

The main component of the projectis a partial cloverleaf interchange,complete with collector and distribu-tor roads and service roads to facili-tate the transfer and exchange oftraffic. A section of the BatinahHighway will also be realigned toaccommodate the new interchange.

Also as part of the project, the se-lected contractor will construct sev-eral kilometres of a new access roadleading to the smelter of Sohar Alu-minium Company. Port access roadsand link roads will be streamlinedand strengthened, while a number ofroundabouts will be constructed toensure the smooth flow of vehicles.

A number of optional improvementsare also envisioned as part of thecontract. Optional works includemultiple roundabouts on the alu-

minium smelter road, dualisation ofthis stretch, and loop ramps, under-pass and flyover leading to the pre-gate area near the port. Improvedroad links are also proposed to theSohar Industrial Estate, where anumber of downstream projects areexpected to materialise in the future.

Road communications around thePort of Sohar are being significantlystrengthened to cope with a pro-jected increase in heavy traffic inand out of the industrial port.

Earlier this year, the 61-km Sohar-Yanqul, connecting the Batinah andDhahirah regions, was formally in-augurated. Development of theBatinah coastal road project, whichwill run from Sohar to Shinas, is ex-pected to commence next year. Theproject will facilitate traffic flow be-tween the Port of Sohar and theUAE and beyond. In future phases,the coastal road will be extendedsouth of the port all the way toBarka wilayat.

Leading contracting firms set sightsLeading contracting firms set sightsLeading contracting firms set sightsLeading contracting firms set sightsLeading contracting firms set sightson Sohar Pon Sohar Pon Sohar Pon Sohar Pon Sohar Pororororort intt intt intt intt interererererccccchange prhange prhange prhange prhange projectojectojectojectoject

Source: Oman Observer - 21 August 2007


The Safeer Hotel and TourismCompany inaugurated Safeer

Plaza Hotel, the ninth in a chain ofhospitality properties owned by thecompany.

Safeer Plaza Hotel, located at AlKuleiah Street in Al Khuwair, has 44well-designed suites with all modernfixtures and fittings, satellite TVwith multiple channels, multi-cuisinerestaurant, 24-hour room service,health club, indoor games, wi-fiinternet connectivity, business cen-tre and other allied services.

The hotel also has a ballroom named‘Sohar’ with a capacity of 400people for weddings and confer-ences. Safeer Plaza Hotel has intro-duced a specially designedchildren’s room on all the floors witha city view, a first of its kind.

The unique concept of Safeer Hoteland Tourism Company is that mostof its hotel resorts and projects are afusion of luxury hotels and servicedapartments where the guests canhave the best of the most spaciousaccommodation in hotel apartmentsand hotel rooms with vast luxuryhotel facilities.

The fusion concept can cater toboth the high and low ends of themarket needs by providing luxuryhotels and serviced apartments tothe guests.

This means that guests can havethe most spacious accommodationin the hotel apartments and hotelrooms and also get luxury hotel fa-cilities like food and beverage out-lets, 24-hour room service, shoppingarcades, health club, banquetinghalls.

“Safeer Hotel and Tourism Company(SHTC), a member of the GoldenGroup of Companies, has severalprojects of hotel resorts and hospi-tality projects across the countryaiming to bag a major market shareof the booming tourism industry inthe country,” said D. Shekar, generalmanager, hotel projects and opera-tions at a press conference to an-nounce the launch of Safeer PlazaHotel.

The company is presently operatingeight properties of hotels, motelsand resorts in Muscat, Ghaba, andSalalah, which include Safeer Conti-nental Hotel, Safeer International

Hotel, Safeer Hotel Suites, NuzhaHotel Apartments, Al KhuwairApartments, Ghaba Motel, OasisResidence and Safeer Residence.

Safeer Hotel and Tourism Companyhas plans to launch similar hospital-ity projects in Muscat, Sohar andSalalah with the fusion conceptwhere it can offer a combination ofhotel and hotel apartments to differ-ent segments of the market.

All the hotels and resorts are man-aged and guided by professionalsand senior managers which includeAli El Hadi, general manager, OmanCommercial Agencies, a group com-pany besides Shekar.

SHTC is also planning to launch at-tractive tour packages known asTour Oman and market them amongthe AGCC and international marketsthrough its wide marketing network.

Safeer Hotel and Tourism Companyhas a centralised booking systemwhere anyone who would like tobook a room or hotel apartment canlog onto their website(www.safeerintl.com) and chooseany property of their choice.

Safeer group opens its ninth hotelSafeer group opens its ninth hotelSafeer group opens its ninth hotelSafeer group opens its ninth hotelSafeer group opens its ninth hotelSource: Times of Oman - 11 August 2007

of the Sultanate of Oman), Majid AlFuttaim Group and the National In-vestment Funds Company (repre-senting Omani pension funds), andhas been officially granted the rightto offer full freehold properties tobuyers of any nationality.

During the design of the project acomprehensive Water ManagementPlan was put in place in order tomanage the possible overflow ofculverts and during the recent un-usual weather conditions, it was thisplan that saved the project from anysignificant flood damage by chan-nelling and containing flood water

within the lake and then dischargingit into the best possible place, theocean, thereby keeping the valuedconstruction areas safe and pro-tected.

Abdullah bin Abbas further added:“We are committed to keeping strin-gent quality standards and our de-velopment plans for the country. Inline with our strategy of transpar-ency in operations, we will also keepour customers posted on theprogress in the construction of resi-dential properties and marine worksat all different stages of our projectsand operations.”

Currently The Wave, stands at thethreshold of officially unveiling theirthree show apartments.

Featuring a magnificent view of theocean, each of the show apartmentsdemonstrates the quality and atten-tion to details that will go into everyhome in the development as well asa snapshot view of the options andupgrades available for the finishes.The modern, spacious open plan liv-ing mixed with an Arabic flavour willalso give a feel of The Wave, Mus-cat lifestyle. A state-of-the-art Cus-tomer Selection Centre will also beopening soon.

MARKET REPORT 41

Omagine Inc, which is investingin a major beachfront develop-

ment in Muscat, has announced sig-nificant progress towards the immi-nent attainment of its primary strate-gic objective.

Omagine’s President, Frank JDrohan, remarked, “The draft Devel-opment Agreement for the OmagineProject was completed and pre-sented to the Ministry of Tourismon July 5, 2007 and the (Ministry)has officially circulated it amongother appropriate concerned minis-tries for final review and comment.”

The parties are expected to sign theDevelopment Agreement in August,he stated, adding: “Both we and thegovernment are pleased with the Fi-nal Draft. We are presently formingand organising Omagine LLC — thelocal project company in Oman —which will be jointly owned by oursubsidiary and J&P. During the pastsixty days we have held numerous

meetings and discussions with po-tential investors and leading banksin the region and there is a veryhigh degree of interest on their partto participate in the OmagineProject.”

The Company’s planned OmagineProject is an integration of cultural,heritage, educational, entertainmentand residential components. Aspresently planned, Omagine will belocated on 1.2 million square metresof beachfront land facing the Gulf ofOman just west of Muscat and nearSeeb International Airport. TheOmagine project also includes theconstruction and sale of approxi-mately 3,900 residential housingunits including luxury villas, town-houses and apartments. The projectis expected to take between 4 to 5years to complete and generate inexcess of $2.2 billion in revenue.

In June the Company’s subsidiaryJourney of Light, Inc. (JOL’) signed

an updated and amended agreementwith Joannou & Paraskevaides(Overseas) Ltd (J&P). The AmendedAgreement extends the originalJ&P-JOL agreement and firmlyaligns the interests of the Companyand J&P relating to the financialclosing, construction, ownershipand operation of the OmagineProject.

Drohan commented, “TheCompany’s relationship with J&Phas been further strengthened as wecollectively work to organiseOmagine LLC, update the Project’sfinancial model and arrange the fi-nancial closing for the OmagineProject. As previously planned, J&Pwill be a significant investor and willreceive a minority equity stake inOmagine LLC.”

Omagine, Inc is primarily involved inthe real-estate development, enter-tainment and hospitality industriesin the Middle East and North Africa.

DeDeDeDeDevvvvvelopment Aelopment Aelopment Aelopment Aelopment Agreement fgreement fgreement fgreement fgreement forororororOmagine prOmagine prOmagine prOmagine prOmagine project toject toject toject toject to be inko be inko be inko be inko be inked sooned sooned sooned sooned soon

Source: Times of Oman - 28 July 2007

Yenkit Tourism DevelopmentLLC has announced plans to

develop a $2 billion luxury Inte-grated Tourist Resort Complex atYenkit in Muscat Governorate.Yenkit Tourism Development hasbeen established by a group of pri-vate Omani investors and the MajidAl Futtaim Group, one of theregion’s most pre-eminent propertydevelopers, in order to plan, de-velop and manage this signature 5-star complex. The 950-hectare Yenkit

master planned community will bedeveloped along the country’s east-ern coastline and is located just 20kilometres to the southeast of Mus-cat.

The project will be an ‘IntegratedTourism Complex’ as designated bythe Ministry of Tourism, and willconsist of four 5-star hotels with ap-proximately 900 rooms, an 18-holeinternational golf course; a widerange of tourist facilities, including

sports and leisure facilities, a resortvillage, nature reserve and visitorscentre, beach club, heritage andcraft centre and major open spaces;1,400 residential villas and up to1,900 residential apartments andtownhouses.

The site has been both recognisedand planned as a high-end environ-mentally sensitive tourism and in-vestment project specifically de-signed to reflect the natural form of

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Source: Oman Observer - 26 July 2007


The Ministry of Housing, Electricity and Water made remark-

able achievements during the lastyear, executing a number of watersupply and housing projects in vari-ous parts of the Sultanate.

Many mega water projects wereimplemented in the wilayats whichfaced acute water shortage.

A number of housing projects aimedat achieving social development andenabling the citizens to continue intheir present places of existence, arein the pipeline.

The ministry has been working onstrategic plans to regulate the use ofland in towns and villages. For this,it has adopted the latest methodsand used modern survey equipmentin town planning and laying out fu-ture plans.

The ministry has also been using

geographical database system — aone-shop database system, whichhelps in exchanging informationamong the various ministries andgovernment departments.

During the last year, an analysis sur-vey on 101,490 land plots was con-ducted.

The ministry recently signed a pactwith a leading company for facilitat-ing the land distribution process forthe citizens in various parts of theSultanate. The citizens can also sub-mit their applications for land plotsat some of the major post offices inthe country.

Till the end of August 9, 2006,45,882 applications from variousparts of the Sultanate were handledthrough post offices. A total of89,954 land plots were distributed invarious regions and governorates ofthe Sultanate during this period:

Muscat (27,100 land plots), Batinahregion (21,809), Musandam region(1,213), Dahirah region (2,667),Buraimi (1,107), Dhakhiliyah region(15,736), Sharqiyah region (8,351), AlWusta region (645) and Dhofar(11,326).

As part of the efforts to promote so-cial development, the ministry iskeen to provide assistance to thefamilies having limited income bysetting up housing units with mini-mum necessary facilities accompa-nied by health services.

A number of citizens benefited fromHis Majesty Sultan Qaboos binSaid’s gesture for setting up hous-ing units in various parts of thecountry.

The ministry has initiated a numberof housing assistance programmes,helping the families with limited in-come and backward families. The

Many mega housing, water projectsMany mega housing, water projectsMany mega housing, water projectsMany mega housing, water projectsMany mega housing, water projectsfor citizens implementedfor citizens implementedfor citizens implementedfor citizens implementedfor citizens implemented


the land. Approval of the masterplan has been granted and develop-ment is expected to commence inearly 2008, subject to finalisation ofagreements with the government.

“Oman has enormous potential withvisitors coming to indulge in thenatural splendour of the countryand with Middle East residentslooking for sound investment op-tions. We are certain that the fullyintegrated Yenkit Development withits stunning location and diverseproduct offerings will be a flagshipproject for the country and the re-gion,” said Hakim bin Majid alMaamari, Chairman of Yenkit Tour-ism Development LLC.

“We are delighted to be part of thisprestigious development that hasgreat potential. Along with TheWave Muscat master planned com-munity and Muscat City Centreshopping mall, the Yenkit projectprovides us with the opportunity tofurther consolidate Majid Al FuttaimGroup’s reputation as one ofOman’s and the region’s leading de-velopers of signature projects,” saidJeffery Rossely, CEO of MAF De-velopments.

The Yenkit project will be a flagshipdevelopment for potential investors,tourists, Omanis and internationalvisitors. The project responds to amajor initiative of the Omani govern-

ment to create a world-class tourismcorridor, stretching down the sceniccoast between Muscat and Sur tothe south. The location has beenidentified as an international desti-nation within which significant tour-ism facilities and attractions will cre-ate a world-class development.

A team of internationally renownedconsultants are involved in masterplanning, architecture, landscape,engineering and project realisationof the Yenkit lifestyle resort. Theresort’s design theme is based on anumber of key elements which buildon the distinctive locality and illus-trious history of Oman.

MARKET REPORT 43

Real estate contracts concludedbetween January 2006 and May

2007 — coinciding with a period ofunprecedented growth in the prop-erty sector — topped RO2.5 billionin value, according to a report bythe Ministry of Housing, Electricityand Water (MHEW). During this pe-riod, real estate deals covering a to-tal of 173,178 new plots were regis-tered by the Ministry. The totalnumber of real estate transactionsrecorded during this 17-month pe-riod totalled 400,952, while 288,632deeds were issued, according to theMinistry.

The huge volume of transactionsattests to the extraordinary growthof the property sector in the Sultan-ate, according to officials. Thisgrowth stems from two key develop-ments: firstly, the conclusion of anaccord by each member state of theGulf Co-operation Council (GCC) totreat investments by GCC nationalson a par with those by its own citi-zens. The recently endorsed accordalso grants nationals of other GCCstates the right to own real estatefor investment, residential use and

other purposes, subject to the lawsof the host state.

Secondly, freehold property owner-ship by non-Omanis in select areasof the Sultanate designated as inte-grated tourism complexes, has nowbeen made possible by Royal De-cree No 12/2006 promulgated lastyear. The statute is key to the Omanigovernment’s efforts to attract for-eign investment in the tourism sec-tor. Oman is recognised as the firstcountry in the Gulf region to haveformally enacted legislationauthorising freehold property own-ership by non-GCC nationals.

Besides The Wave Muscat and TheMuscat Golf and Country Clubproject, both of which have alreadybegun offering residential units toforeigners, property ownership willalso be allowed in the followingtourism schemes: The Blue City; wa-terfront resorts at Yiti (in MuscatGovernorate) and Shinas (on theBatinah coast); and lavish develop-ments planned at Sifah (MuscatGovernorate) and in Salalah. The listis likely to grow as new schemes are

classified as integrated tourismzones, and become eligible to offerresidential property to foreigners,say officials.

In all, 4,033 GCC nationals were reg-istered as owning property for in-vestment or housing purposes inthe Sultanate during the January2006-May 2007 period, according tothe latest MHEW report. Underlin-ing the growing importance of thissector, the Ministry has adopted amodernised Real Estate RegistrationSystem to ensure efficient registra-tion and documentation of all landtransactions. The new system isalso aimed at ensuring that anyproperty in question is used onlyfor the stipulated purpose.

Further, the Ministry is also intro-ducing new imaging technology tomaintain a suitable record of all landdocuments maintained by it. Thenew system will ensure the safetyand integrity of land records, facili-tate easy access to such documentsthrough Intranet and Internet chan-nels, and also ensure confidentialityof such records.

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amount of assistance to those fami-lies was increased to RO15,000 fromRO10,000 this year.

A total of 90 families benefited dur-ing the year 2006 with an assistanceof RO1.12 million.

The other scheme is interest-freesoft loan to the limited-income fami-lies whose income is below RO130per month at the time of their sub-mission of applications. The loansare granted for constructing houses

and expanding the existing damagedhouses. Eighty-five Omani familiesbenefited from this programme,which distributed RO1.07 million.

In the water sector, the ministry isstriving to implement a number ofmega projects, which include SoharWater Network, which is being un-dertaken at a total cost of RO65.7million.

The other water network projectsunderway are in the wilayats of Ibra,Al Qabil and Bidiya in the Sharqiah

region, at a cost of RO20 million; thewater supply networks in the inte-rior region which involves the con-struction of five key transmissionlines linking various wilayats; thewater networks project to supplywater to some alienated areas inBousher and Ma’abela.

As part of a training programme inthe field of human resources devel-opment, the ministry provided voca-tional training to 129 Omani nation-als last year.


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Sheikh Ali bin Abdullah bin Ali AlBadi, chairman of the Contract-

ing and Labour Committee at theOman Chamber of Commerce andIndustry, has said that the Sultanatehas been witnessing great progressin the construction field especiallyin mega projects.

Al Badi, who is also chairman ofOman Contractors Association,mentioned that projects worth some$5 billion are underway includingthe Sohar Aluminum Project, addingthat are also several ongoingprojects in road construction and in

the private sector. Al Badi pointedout that the sector has been se-verely hit by high prices and theshortage of building materials dueto high demand.

“The contracting sector has beenhit by price rise and shortage ofbuilding materials in the local marketdue to increasing demand,” he said.“Authorities are concerned aboutthe crisis as the contracting or con-struction sector is the cornerstoneof any progress,” said Hamid binAbdulqawi Al Yafiei, managing di-rector of Oman Strabag.

Al Yafiei pointed out that most ofthe contracting companies havebeen able to keep pace with the in-crease in the number of projects andseveral local companies have beenawarded mega projects by the Ten-der Board. But this recent trend ofincrease in prices of building materi-als has affected the contracting sec-tor badly as most of the projectswere awarded prior to this trend.

He added that some traders havebeen charging more for building ma-terials under the pretext that priceshave been moving northwards in

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Work on the RO250 million AlBatinah coastal road will be-

gin next year, according to sources.

“Initial designs of the road are ex-pected to be completed by Augustand final designs by year-end. Con-struction work on the project willbegin next year,” sources at the Su-preme Committee for Town Planningsaid.

Salim bin Mohammed Al A’afani, di-rector-general for construction plan-ning at the Supreme Committee forTown Planning, said that the roadwould link the wilayats of Barka (AlNaseem Garden roundabout) andShinas.

Work on the first-phase comprising100km, from the wilayat of Sohar tothe wilayat of Shinas, he said, would

begin from the less-affected andthinly populated area. Though thegovernment has not specified theproject cost precisely, the cost wasinitially estimated at RO250 million.

Development of coastal areas willhelp the government provide thepublic with open beaches. Thoughcoastal area residents, particularlythe fishermen, claimed that theirwork would be affected, Al A’afanisaid the new road would not affectfishermen as there would be system-atic road crossing structures. It willtake four years to complete the two-lane road construction. There will beareas for tourism and commercial ac-tivities.

The project, he said, would not af-fect the vital economic and tourismfacilities, for example, the Blue City

and the Sohar Industrial City. It willbe an environment-friendly project.The road project is adjacent to sev-eral schools, but only three schoolsalong the coastal line to Al Batinahwill be affected, Oman’s heritagesites will not be affected.

Initial estimates show that some15,000 people will be affected by theroad project. The government hasalready proposed to build 2,200 resi-dential units to rehabilitate people.The road in some areas is 500 metresfrom the coast (to protect vital in-stallations and utilities). The aver-age distance between the road andthe coast is 80-150 metres.

“The road comprises five flyovers,several roundabouts, and taxi-park-ing areas,” Engineer Kasim binMohammed Al Nabhani said.

MARKET REPORT 45

An agreement was signed at theGrand Hyatt Muscat here yes-

terday for the development of aunique recreational project at an es-timated cost of $500 million. Thedeal was clinched by Oman-basedRadiance International (Al IshraqInternational) with TransmitNanvang Engineering Construction(TNEC), a leading Malaysian devel-oper and investor.

The project, dubbed the ‘GreenAcre’, is proposed to be establishedin Muscat Governorate. It is con-ceived as a sprawling tourism andrecreational complex, with mixed de-velopment elements as well. Signifi-cantly, the project’s concept isthemed around family-oriented rec-reation, water-theme parks, golfcourse, driving range, golf academyand horse riding facilities envis-aged. Billed as the biggest of itskind in the Gulf region, the ‘GreenAcre’ project will enhance Oman’sappeal as a tourist destination..

Green Acres, a unique recreationaldevelopment planned in Muscat,

will also be established in a numberof other regions of the Sultanate, ac-cording to the project’s promoters.On Thursday, Oman-based Radi-ance International signed an agree-ment with Malaysia’s TransmitNanvang Engineering Construction(TNEC) for the development of thefirst Green Acres project in the Gov-ernorate of Muscat. The complex,involving an investment of $500-600million, is conceived as a sprawlingrecreational, tourism and residentialdevelopment.

His Highness Sayyid Khalifa binTaimur al Said, Chairman and ChiefExecutive of Radiance International,signed on behalf of the Oman inves-tor. TNEC, a leading Malaysian de-veloper and investor, is a partner inthis joint venture project. Accordingto the promoters, Green Acres willinclude a golf academy and 9-holegolf course and driving range, 4-and 5-star hotels, water theme park,theme parks, largest indoor play penfor children, stables, riding schooland equestrian sports facilities,ranches with a ranch hotel, shop-

ping centres and entertainment mall,natural camping sites, adventuretourism facilities, health farms andspa hotels and prime residential ar-eas.

Billed as the biggest of its kind inthe Gulf region, the ‘Green Acres’project will enhance Oman’s appealas a tourist destination. RadianceInternational also plans to launchsimilar Green Acres type projects,although with different investmentgroups, in Dhofar Governorate,Buraimi, Sohar and other regions ofthe Sultanate.

The Green Acres project will createjob opportunities for Omani nation-als and open up business opportu-nities for local companies. Over thepast two years, Radiance Interna-tional has been studying and explor-ing business and investment oppor-tunities for Oman and GCC invest-ment groups in Malaysia, and hasbeen successful in concluding anumber of projects. Details aboutthese ventures will be announced indue course, the promoters say.

Deal signed for $500m recreational projectDeal signed for $500m recreational projectDeal signed for $500m recreational projectDeal signed for $500m recreational projectDeal signed for $500m recreational projectSource: Times of Oman - 06 July 2007

the international market.

Omanisation: The private companieshave positively responded to thedrive of Omanisation, which is a na-tional duty. Some flexibility is re-quired in this campaign as sectorshave their own unique problems.

One of the problems facing the sec-tor is that majority of the Omanisworking here are still under training.“The contracting sector depends 80per cent on the expatriate man-power,’’ he said, adding that salariesof those working in this sectorshould be increased.

Saif bin said Al Akhzami, CEO ofSaif bin said Al Akhzami Trading &

Contracting Establishment, said thatthe sector which is expected to growtremendously in the years to come,has been hit by a hike in the recruit-ment fee for expatriates, he added.

Al Akhzami mentioned that the smalland medium companies have beenhit by the liquidity crunch and theydo not have financial resources tobuy adequate equipment and ma-chinery. There is also a crisis due tothe large instances of expatriatemanpower absconding.

He said though the Ministry ofManpower had stipulated a 30 percent Omanisation target for con-tracting companies applying forhigh-grade contracts, the Tender

Board wants the companies toachieve 35 per cent Omanisation.

Ahmed bin Hassan Backer, deputychairman of Hassan Juma BackerTrading and Contracting Company,said that in the recent past, the con-tracting sector had contributed sig-nificantly by executing vital andmega government projects, espe-cially in the Sohar region.

As this confirms the government’sconfidence in this sector, to make itcompetent internationally, there is aneed to implement a unified systemfor the sector and have propermechanisms for contracts, man-power and specifications.


The Sultanate government andthe Muria Tourist Development

Company signed agreements at theMinistry of Tourism, yesterday, to

develop tourist projects at Al Seifaarea in the Muscat governorate andin the wilayat of Salalah in the gov-ernorate of Dhofar.

Dr Rajiha bint Abdul Amir bin Ali,minister of tourism, signed theagreements on behalf of the govern-ment, while Eng. Sameeh Sawers,

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While the urban infrastructureand the coastal villages

struggled to cope with the fury ofthe cyclone, the Wadi Shab to Surstretch of the new Quriyat-Sur dualcarriageway, whose work is inprogress, withstood the onslaughtof continuous rains and the subse-quent flooding.

Under separate contracts awardedin mid-2003, the STFA-POLAT jointventure and the China Railway 18thBureau (Group) Co. Ltd are sharingthe implementation of the project ata total cost of RO56.2 million.

The STFA’s section covers a 62kmstretch from Daghmar roundabout inQuriyat to Wadi Shab. The ChinaRailway 18th Bureau (Group) Co. isconstructing the 27.74km stretchfrom Wadi Shab to Qalhat LNGroundabout leading to Sur.

Times’ team embarked on the WadiShab-to-Sur trail to scan the route ofany damage inflicted as a result ofthe cyclone. Right at the startingpoint of the stretch at Wadi Shab (apicturesque stream wedged betweenhigh rocky cliffs), the team foundthe bridge under construction overthe wadi absolutely intact. Built on aconcrete pile foundation, the eight-span bridge is 260 metres in lengthand the drive over the bridge withthe calm Wadi Shab flowing downbelow can inspire the artist in you.

According to Zhang Shi Hua, chief

engineer of the project, no structuraldamage had been recorded to any oftheir structures in the entire stretchunder their jurisdiction. He addedthat some scaffolding, steel dumpedand some other material on theground had been washed away andthe track road eroded.

The second bridge over Wadi Tiwi,yet another lovely watercourse, tooescaped the brunt of the cyclone.This nine-span bridge, 34 metres inheight, cuts through the mountainsand juts into the coastal road at Tiwivillage. Here also only the scaffold-ing and the reinforcements werewashed away into the nearby sea.Zhang said the fact that no struc-tural damage had been caused tothe structure spoke volumes of theirexpertise in erecting quality struc-tures. A visit to the company site atthe Tiwi beach tells about the furyof the cyclone as the batch plantand other machinery have beenbadly damaged and material strewnall over the place.

Says Zhang: “Though the accom-modation, material and machineryhave been damaged there has beenno human casualty.” The camp of-fice has now been shifted to Sur andthe work under the leadership ofZhang Wen Juan, general managerof the company resumed on June 18.Says Zhang Shi Hua: “We havestarted work but we need to bring inscaffolding from China. The shipcarrying material for blasting works

had to return to India because of thecyclone and it may take weeks toget all the material. But other work isin full steam. This may cause a delayof some months to complete thework.”

The third bridge over Wadi Heda isthe only one that has been com-pleted. When asked what was themost difficult work in a project likethe one which needs cuttingthrough the mountains or construc-tion bridges over the wadis, Zhangsaid: “Bringing material to the sitehas its own difficulties. But consid-ering the experience we have every-thing was done in a professionalmanner.”

The fourth bridge on Wadi Hilmspans 200 metres, and like the threebridges, has remained intact. Herethe ground-level road leading to thefoundation has been badly scouredby the flooding and the wadi swol-len by a few metres.

Besides the bridges, the highwayalso withstood the continuousflooding with very minor erosionseen at the edges at some places.The road skirts the Gulf of Oman atmany places making the journeythrilling.

At many places along the stretch,the road is flanked by the azuremass of aquamarine blue sea on oneside and the eastern majestic Hajarmountains on the other side.

SSSSStrtrtrtrtrong and sturdy withstong and sturdy withstong and sturdy withstong and sturdy withstong and sturdy withstood the cyood the cyood the cyood the cyood the cyclone furclone furclone furclone furclone furyyyyySource: Times of Oman - 04 July 2007

MARKET REPORT 47

The main Inventory and Assess-ment Committee formed as per

the royal orders of His Majesty Sul-tan Qaboos bin Said, yesterday,held its fourth meeting under thechairmanship of Sayyid Ali binHamoud Al Busaidi, minister of theDiwan of Royal Court, in the pres-ence of the minister of interior, theminister of state and governor ofMuscat, secretary-general of the Fi-nance Ministry, and the assistant-inspector-general of police and cus-toms.

The main committee has examined areport on the decisions taken in theprevious meetings. It also revieweda report presented by the sub-com-mittee on the inventory and assess-ment activities between June 16 andJune 28. The number of affected

houses counted by the inventoryteams stood at 50,250 in the wilayatsof Muscat, Muttrah, Bausher, AlSeeb, Al A’merat, Quriyat, Barka,Bidbid and Sur.

The main committee has also exam-ined a report on the efforts beingtaken by the field inventory teamsto count the damage sustained bycommercial establishments, whichstood at 4,557 as on June 29 in theaforesaid wilayats.

Meanwhile, the committee reviewedthe efforts being put in by the Do-nation Fund Committee to aid thoseaffected by unusual weather condi-tions, where the fund committeecontinued to provide urgent aid tothe wilayats of Muscat, Muttrah, AlA’merat, Bausher and Sur, in coop-

eration with the Omani Chari-tableOrganisation (OCO).

Upon the committee’s invitation, themeeting was also attended by theundersecretary of the Ministry Na-tional Economy for development af-fairs and chairman of the sub-com-mittee formed at the Ministry Na-tional Economy for inventory andevaluation of damage sustained byproperties due to the unusualweather conditions.

The second instalment of the urgentaid is expected to be distributed inthe next few days in Muscat,Quriyat, Seeb and later in Barka andBidbid. Meanwhile, the authoritiesconcerned had started the supply oftemporary accommodation for theaffected people.

50,250 houses and50,250 houses and50,250 houses and50,250 houses and50,250 houses and4,554,554,554,554,557 establishments af7 establishments af7 establishments af7 establishments af7 establishments affffffectectectectectededededed

Source: Times of Oman - 30 June 2007

board chairman, signed on behalf ofthe company.

As per the Al Seifa project develop-ment agreement, the Sultanate willallocate six million square metres ofland and the Right of Utilisation toset up a fully integrated touristproject.

Phase I of the project includes con-struction of five-star hotels, golfcourse of high standard, a berth toaccommodate 200 boats, commercialcentre, markets and luxury residen-tial units.

The Muria Tourist DevelopmentCompany will undertake the imple-mentation and completion of thetourist utilities within a maximum pe-riod of five years of the signing theagreement, in addition to the settingup of infrastructural utilities. Theright of utilisation period will be for

50 years, with a possibility of freeownership in accordance to RoyalDecree No. 12/2006 and its executivepanel.

The Al Seifa area in the wilayat ofMuscat is renowned for its touristattraction and sandy beaches. It isabout 45km away from the Seeb In-ternational Airport.

As per the agreement of the Salalahdevelopment project, the govern-ment will allocate a space of 15 mil-lion square metres of land with 50years utilisation right to set up afully integrated tourist project to beimplemented in two phases.

Phase I comprises construction of afive-star hotels, a high standard golfcourses, a berth to accommodate200 boats, commercial centre, tradi-tional markets and luxury residentialunits.

The company will undertake toimplement and complete theinfrastructural utilities and the set-ting up of tourist projects in a maxi-mum period of five years of theagreement signing date.

The tourist area in Salalah, which isrenowned for its unique tourist loca-tion and sandy beaches, extendsfrom the wilayat of Salalah to KhorTaqah, which is about 15km awayfrom Salalah airport.

It is worth noting that the integratedtourist complexes comprise touristand real estate utilities.

Free ownership is permitted for indi-viduals and establishments in accor-dance with Royal Decree No. 12/2006. The signing of the agreementscomes within the context of theSultanate’s efforts to attract moretourist investments.


The ministerial committee formedas per the royal orders of His

Majesty Sultan Qaboos bin Said torebuild the infrastructure affectedby Cyclone Gonu, held its thirdmeeting yesterday under the chair-manship of Ahmed bin AbdulnabiMacki, minister of national economyand deputy chairman of the Finan-cial Affairs and Energy ResourcesCouncil.

Macki said the committee has dis-cussed during its meeting a numberof issues related to the rebuilding of

the areas affected by the tropical cy-clone.

A sum of RO76 million was ap-proved out of which RO10 millionwas approved for MuscatMunicipality’s developmental bud-get to carry out work related to re-moval of debris, water, opening ofmain and internal roads in thewilayats of the Muscat governorate.

The minister further said that RO36million from the amount was allo-cated for the development budget of

the Ministry of Regional Municipali-ties, Environment and Water Re-sources to repair damage inflictedon internal roads, lighting and aflajin the governorate of Muscat and inthe Al Batinah, Al Dakhiliyah and AlSharqiyah regions.

He added that the balance amountof RO30 million was allocated for thedevelopment budget of the Ministryof Transport and Communic-ationsfor repairing the asphalt and gradedroads in the Al Sharqiyah and the AlBatinah regions.

RRRRRO7O7O7O7O76 million ok6 million ok6 million ok6 million ok6 million okaaaaayyyyyed ted ted ted ted to rebuildo rebuildo rebuildo rebuildo rebuildcycycycycyclone-afclone-afclone-afclone-afclone-affffffectectectectected infrastructureed infrastructureed infrastructureed infrastructureed infrastructure

Source: Times of Oman - 27 June 2007

The shortage of cement has hitmany sectors badly in the Sul-

tanate. Many projects have beenhalted as contractors and compa-nies were not getting the requiredcement supply to carry out theirconstruction work.The crisis has led to a rise in cementprices as scores of traders capitalis-ing on the shortage have been try-ing to make a fast buck.

In the absence of any committee tocontrol the rising prices, the situa-tion was turning from bad to worse.Moreover, traders seem to havebeen ignoring the rules issued toregularise cement trade.Cement prices have risen by 80 percent in Ibri, Nizwa and Sohar – a risethat may prove catastrophic for anumber of contractors and houseowners who feel helpless in such asituation.

It may be recalled that Oman Tri-bune has written about the issueand also proposed a number of so-

lutions like setting up new factories,providing help to the existing facto-ries, issuing new regulations whichcould control the market in a betterway and protecting consumersagainst fraud by facilitating cementimports.

Oman Cement and Raysut Cementlast Sunday had said that they areready to meet the growing demandof cement in the coming months butcalled upon the authorities con-cerned to control the market andkeep closely monitor traders whoraise prices and hoard availablequantities to keep the crisis going.They called upon the authorities toprovide additional incentives to theprivate sector to import more cementor set up new cement plants. Theyalso urged the government to makeavailable the gas required to operatecement plants, especially when theSultanate will need cement to carryout the reconstruction of the infra-structure devastated by CycloneGonu.

The CEO of Oman Cement said cur-rently the company was unable tomeet the growing demand becausemany traders buy large quantitiesand store them.

At the same time, there was a boomin the construction sector and land-owners were trying to build theirhouses in the wake of the recent risein rents.Saif Bin Salman Al Tobi, a resident,said the cement market has beenfacing a real crisis with no way out.“We are spending long hours tobuy cement and if we find a trader,we have to bargain and buy it at thehiked price.”

Hussein Bin Ali Al Mantheri, a con-tractor in Ibri, said: “Even if theprice of a cement bag is RO3, it isstill difficult to get the requiredquantity. The authorities concernedshould be held responsible for theirinability to control the market andmaintain a balance between demandand supply.

ShorShorShorShorShortage of cement halts mantage of cement halts mantage of cement halts mantage of cement halts mantage of cement halts many pry pry pry pry projectsojectsojectsojectsojectsSource: Oman Tribune - 30 June 2007

MARKET REPORT 49

Hamed bin Hamoud Al Qassabi,director of Nizwa Industrial Es-

tate (NIE), said the volume of Omaniand foreign investments at NIE hadreached RO50 million.

He told Oman News Agency (ONA)that the NIE will require further fi-nancial resources during forthcom-ing stage in order to provide infra-structure and services such as ex-pansion of road networks, watersupply, wastewater management,and power and gas.

He said phase-one at NIE, whosearea stood at 260,000sqm, was de-veloped in 1994. Arrangements toprepare drawings for expansion ofservices to phase two and three areunder progress due to be imple-mented in the second half of 2007.NIE is currently witnessing consid-erable turn out from investors as toset up new projects and expand ex-isting ones.

NIE, recently received an additionalspace of 140,000sqm from the Minis-try of Housing, Electricity and Wa-ter, thereby raising its total area to2,140,000sqm. So far, only800,000sqm have been utilised, headded.

Qassabi said a number of projectsare currently existing at NIE, includ-ing 12 factories, seven of which areunder construction, procedures re-lated to five projects are undercompletion and two projects are be-ing evaluated.

Major industries at NIE are ceramictiles, foodstuff, metallic alloys, tim-ber, water tankers, tea packaging,furniture industries, steel structur-ing, building materials, oil and gasservices which provide technicaland logistics support to various oiland gas projects, besides a com-pany which provides storage andhandling services at NIE.

The NIE director said the glasssmelter project is one of the largestindustrial projects to be imple-mented at NIE during forthcomingperiod. The total foreign investmentin the project is to the tune of $10million. The project will commenceoperation in 2008.

Qassabi said raw materials such asmarble quarries, sand and agricul-tural materials are located near NIE.With regard to Omanisation at NIE,he said, NIE is currently employinga great deal of Omani youth.

Omanisation ratio stood at 35 percent of the 600 total labour force atNIE.

With new projects induction suchas glass smelter project which is en-visaged to provide 300 job opportu-nities for Omanis, Qassabi hopedthat the Omanisation ratio would im-prove.

Nizwa Industrial EstateNizwa Industrial EstateNizwa Industrial EstateNizwa Industrial EstateNizwa Industrial Estatewitnesses investment boomwitnesses investment boomwitnesses investment boomwitnesses investment boomwitnesses investment boom

Source: Times of Oman - 26 May 2007

Macki indicated that the ministerialcommittee had approved the forma-tion of a technical committee com-prising the Muscat Municipality, the

Ministry of Regional Municipalities,Environment and Water Resourcesand the Supreme Committee forTown Planning to study bridges and

the proposed protection works atthe Al Qurum commercial districtand nearby areas subjected to wadiflooding.

InterContinental Hotels Group, theglobal hotel company, has rein-

forced its commitment to Oman as athriving business and tourist desti-nation by announcing the develop-ment of a third Crowne Plaza hotel,in the burgeoning industrial city ofSohar.

The hotel, developed by ownersSamco Trading & Contracting, is lo-cated on a hilltop near the Sohar In-dustrial Port Company project,

launched in 2002 and is set to be-come the economic backbone ofOman’s diversification effort.

Planned to open at the end of 2007,the 126-room Crowne Plaza Soharwill be the first internationallybranded hotel in the area. It will fea-ture a diverse mix of food and bever-age, leisure, commercial and serviceoutlets, including a Mediterraneanrestaurant, a lobby-level patisserie,sports bar, poolside dining and a

banquet hall catering for up to 400guests.

The extensive leisure facilities in-clude a bowling alley with pool andsnooker tables and a worldclasshealth club with a fully equippedgym, steam room, sauna and mas-sage facilities, tennis courts and anoutdoor swimming pool. Commercialservices include boardrooms, meet-ing and training rooms furnishedwith state-of-the-art equipment. The

Third CrThird CrThird CrThird CrThird Crooooowne Plaza howne Plaza howne Plaza howne Plaza howne Plaza hotttttel tel tel tel tel to be locato be locato be locato be locato be located in Sohared in Sohared in Sohared in Sohared in SoharSource: Times of Oman - 20 May 2007


The first phase of the pictur-esque $1.4 billion Salam Resort

& Spa (Yiti) is expected to be com-pleted by mid-2009.

Official sources told the Times ofOman that when fully developed,over 700 hotel rooms would beavailable for tourists with additionalserviced residences.

The property offerings will includeexclusive 5-star hotels, luxury villasand magnificent apartments,complemented by a golf course, amarina, a state-of-the-art wellnessspa and eco-marina centre. Theproject is being developed by theUAE-based Sama Dubai in a jointventure with Omran (Oman TourismDevelopment Company).

Sama Dubai is the internationalproperty development & investmentsubsidiary of Dubai Holdings whileOmran is the Oman Governmentsponsored tourism developmentrepresentative.

Salam Resort & Spa-Yiti is one ofthe two resorts being created underthe Sama Dubai Resort & Spa brand.

Yiti resorYiti resorYiti resorYiti resorYiti resort ft ft ft ft fiririririrst phase mast phase mast phase mast phase mast phase may goy goy goy goy goon stream by mid-2009on stream by mid-2009on stream by mid-2009on stream by mid-2009on stream by mid-2009


Oman Ceramics Co. SAOG,manufacturers of high-quality

vitreous sanitaryware, opened theirnew showroom in Wadi Kabir onSunday.

Oman Ceramics is the only manufac-turer of sanitaryware in the Sultan-ate of Oman and boasts of a modernand state-of-the-art factory at Sohar.The plant was set up with the pri-mary intent of exporting to WesternEurope and also to exploit the busi-ness opportunities in the AGCC andnearby regions. The plant andequipment have been sourced from

reputed European suppliers and thetechnology is from the UK. Certaincritical raw materials are importedfrom UK to ensure high productquality and reliability. The companyis in the process of getting ISO:9001certification.The present capacity ofthe plant is 375,000 pieces per an-num and the company is in the pro-cess of implementing an expansionplan that will enhance the capacityto 600,000 pieces per annum.

The product quality of the companyis comparable to reputed Europeanbrands and in fact approximately 30

per cent of its sales comes from ex-ports to the UK.

The products are in conformance toEN (European) standards, Britishstandards, Saudi standards and aretested and certified by CERAM —the world’s largest independent cer-tification body for ceramics prod-ucts. The products of the companyare sold under the brand nameWave.Wave sanitaryware are ap-proved by Abu Dhabi Municipality,many ministries of the Sultanate ofOman and National Housing Au-thority in Kuwait.

Oman Ceramics opensOman Ceramics opensOman Ceramics opensOman Ceramics opensOman Ceramics opensnenenenenew show show show show showrwrwrwrwroom in Woom in Woom in Woom in Woom in Wadi Kadi Kadi Kadi Kadi Kabirabirabirabirabir


800-square-metre fully serviced of-fice space with separate entranceand car parking will also be availablefor lease.

Tony Zamora, director of opera-tions, InterContinental HotelsGroup, Oman said, “With the addi-tion of Crowne Plaza Sohar we willsee the group’s portfolio in thecountry rise to 1,300 rooms, this willallow us to offer a complementarychoice of hotels in Oman, to cater toa diverse mix of business and leisuretravellers. While established global

corporations and intra-regionaltravel remain key to the commercialsuccess of the hotel, the Soharproperty will also act as a vital facil-ity and employer for the local com-munity, further testament to thegroup’s commitment toOmanisation.”

Added Zamora, “The Sohar devel-opment is indicative of the high lev-els of industrial enterprise currentlyoccurring in the country and we areproud to play a significant role in itssuccess as a world-class leisure and

business destination.”

Salim Macki of Samco Trading &Contracting said: “The developmentof an established branded hotelsuch as Crowne Plaza is vital tomeet the business needs of the portof Sohar and local business commu-nity. The high standards that are in-herent of the Crowne Plaza brandand its tailormade facilities willprove integral to international busi-ness travellers and provide a wel-come addition to the leisure activi-ties of the local community.”

MARKET REPORT 51

Come 2010, the Azaiba shoreoverlooking the vast expanse

of turquoise Gulf of Oman will behome to a palace of dreams.

The Wave, Muscat, Oman’s leadingtourism and beachfront residentialdevelopment, announced thatKempinski Hotels, one of the lead-ing luxury hotel groups worldwide,has signed up for a beachfrontproperty at the development duringa ceremony held here on Thursdayat the magnificent Emirates Palace(managed by the Kempinski). Theceremony was attended by the com-panies’ officials and Majid AlFuttaim Group, one of The Wave,Muscat’s main investors.

At a ceremony Abdullah bin Abbasbin Ahmed, chairman of MuscatMunicipality, and chairman of TheWave, Muscat, and Ulrich Eckhardt,senior vice-president, Middle Eastand Africa, Kempinski, exchangeddocuments after inking the pact. En-thused by Oman’s strong economy

and the resurgence of hotel indus-try, Kempinski’s presence will addmomentum to the tourism growth.

After the signing ceremonyAbdullah bin Abbas bin Ahmedsaid: “The partnership between theworld-renowned Kempinski Hotelsand The Wave, Muscat, is yet an-other important milestone in creat-ing our landmark destination.

The Wave, Muscat, epitomises theaspiration and culture of Sultanateof Oman and we are committed todelivering exceptional residential,retail and leisure facilities”.

He added: “With the expertise onoffer from our strategic partners likeKempinski Hotels, the developmentjoins the league of the top commu-nity projects in the Middle East. Ourtie-up with Kempinski is part of ourvision to involve the finest world-class companies in the field.”

In his comments, Ulrich Eckhardt,

VP Development at Kempinski Ho-tels, said: “We are delighted to bepart of The Wave, Muscat.

“Kempinski has entered the regionalresort market in response to grow-ing consumer demand even as wecontinue to maintain our leadershipin the business travel market, en-dorsed by our renowned propertiesin many of the world’s key cities.”

He added: “Our foray into Omanand participation at this unique de-velopment property further rein-forces our expansion plans in theMiddle East. Our property at TheWave, Muscat, will offer an excep-tional range of business and leisurefacilities, and luxury amenitieswithin a breathtaking beachside lo-cation.”

Rashid Al Saadi, board member ofThe Wave; Ahmed bin Brek, vice-chairman, board of directors, TheWave, Muscat and representative ofMajid Al Futtaim Investments and

The WThe WThe WThe WThe Waaaaavvvvve signs pact with Ke signs pact with Ke signs pact with Ke signs pact with Ke signs pact with KempinskiempinskiempinskiempinskiempinskiSource: Times of Oman - 28 April 2007

The other is Salam Beach Resort &Spa – Bahrain, which will be thekingdom’s first exclusive beachcommunity.

The 3.7sq.km Salam Resort & Spa–Yiti located at a 15-minute drivesouth of Muscat, is positioned asan architectural testimony toOman’s diverse natural beauty, richculture and beauty and is poised tobecome a prime destination for theinternational luxury travel market.

Building on the natural canvas pro-vided by Oman’s breathtaking sur-roundings, the Salam MountainBeach Resort & Spa-Yiti will harnessthe beauty of the region, offeringlong stretches of beach and spec-tacular views.

One of the elements which makes

this project appealing is the uniquearchitecture which is inspired by theOmani heritage and remains true tothe traditions and culture of the Sul-tanate. The mountain and beachclub setting will also deliver a luxuri-ous and sophisticated environmentto guests seeking escape. The re-sort aims to attract international andregional tourists as well as second-home owners in search of tranquil-lity, wellness and relaxation andaims to convey the true essence ofOman.

Luxury villas and townhouses willbe available for private freeholdownership to expatriates.

Officials of Sama Dubai are upbeatthat Salam Resort & Spa-Yiti fits intothe overall tourism component ofthe Sultanate of Oman.

“With Oman’s politically stable en-vironment and a growing economicand social system, the progressionof the country has resulted in agreat increase in tourism. Oman’sdramatic deserts and coastal land-scapes surrounded by the azure wa-ters of the Gulf of Oman combinesto create a wonderful tourism experi-ence.

In addition the historic culture ofthe Omani lifestyle which dates back5,000 years, makes Oman a trulyunique destination for internationalvisitors,” representatives of Samasaid.

Living up to its Arabic connotationmeaning of ‘peace’, the ‘Salam’ re-sorts promise harmonious livingwithin the finest integrated luxuryresort communities in the world.


Oman’s top tourism and beach-front residential development

project, The Wave, Muscat, yester-day commenced construction ofresidential properties and marineworks.

Overlooking the Gulf of Oman, TheWave, Muscat, is a fully master

planned community occupying a to-tal area of 2,500,000 square metresalong 6km of natural beach. TheWave, once completed, will be hometo 4,000 dwelling owners from all na-tionalities, a signature 18 hole greengolf course designed by the legend-ary Greg Norman, 300 berth marina,four luxury hotels, villas, retail and

restaurant outlets. Located within a10-minute drive from the centre oftown, the community will be withindriving distance from the numerousauthentic attractions of Muscatwhile enjoying world-class ameni-ties and facilities.

With house foundations and infra-

The WThe WThe WThe WThe Waaaaavvvvve begins constructione begins constructione begins constructione begins constructione begins constructionSource: Times of Oman - 15 April 2007

Michael Henssler, general manager,Mall of Emirates, Abu Dhabi werepresent during the signing cer-emony.

Later at a press conference heldyesterday at the Emirates Palacehere, Wael Ahmed Al Lawati, deputyCEO, The Wave, Muscat, said thatthe management expertise ofKempinski will ensure that highestlevels of service will be savoured byour guest and residents. Waeladded: “The Kempinski Hotel willblend gracefully onto the Wave sur-roundings and offer luxurious ac-commodations and unrivalledamenities complemented by impec-cable service.”

Wael added that the third hotel inThe Wave would be announcednext year as they are already tied upwith Fairmont and Kempinski pres-ently. When asked if the presence ofhotels would not disturb the privacyof the residents in the project Waelallayed the fears saying the resi-dences are protected and would notlose privacy.

Participating in the press confer-ence, Ulrich said: “We are pleasedand honoured to participate inOman’s premier real estate and tour-ism project and guarantee to addvalue to the equation. BeingEurope’s oldest international hotelwhich is into business for the last110 years and which has a strongbrand name, Kempinski will be ableto attract guests from Europe as

Oman receives the largest number ofvisitors from European countries.

For leisure and business guestsalike, the name Kempinski has longbeen synonymous with style, nobil-ity and efficiency. Put simply, theyare the first choice for the discern-ing individual.” He further said: “Inaddition to operating many of finestcity hotels in the world, Kempinskiis a name that now be found inmany exciting resort locations, eachcombining local flair and ambiencewith the international standards ofservice and luxury Kempinskiguests have come to expect.” Ac-cording to Ulrich the marketingstrategy would be begin with the lei-sure segment. “With superb loca-tion, close proximity to the airportand brand image of KempinskiOman would be able to entice tour-ists pretty quickly.”

Jeff Rossely, board member of theWave and CEO of MAF Develop-ments LLC, averred: “‘The opulenceat its finest’ property will haveabout 300 rooms and will deliver ser-vice as a complete product.” “Theentry of Kempinski,” he said,“would offset the shortage of goodfive-star rooms in Oman. He said:“With the tourism-friendly Govern-ment of Oman addressing the infra-structure demands and the potentialof more air traffic from different re-gions of the world to Oman beingrealised property like Kempinskiwould be an ideal choice for thebusiness as well as leisure travel-

lers.” Commentinmg on the increas-ing demand for five-star hotel occu-pancy, Jeff Rossely said that threeyears ago Oman’s five-star hotel oc-cupancy rate was 40 per cent on anaverage and currently it hastouched 80 per cent.”

Ahmed bin Brek, vice-chairmanboard of directors, The Wave, Mus-cat and representative of Majid AlFuttaim Investments commented: “Itis particularly exciting to haveKempinski Hotels at The Wave,Muscat. We have worked withKempinski previously at Mall of theEmirates and we hope to continueour excellent rapport with the devel-opment of this landmark property”.

Also present on the occasion wasAmer Al Fadhil, vice-president (Ex-ternal Affairs), The Wave Muscat.

Rich in tradition, the Kempinski overthe world comprises a fine collectionof sumptuous hotels and resorts,from the truly historic to the breath-takingly avant-garde. TodayKempinski’s prestigious portfoliocomprises over 55 luxurious proper-ties in Europe, the Middle East andAfrica, Asia and South America.Well known and established namessuch as the Hotel Adlon Kempinskiin Berlin, the Cira?an PalaceKempinski in Istanbul, Emirates Pal-ace Hotel in Abu Dhabi, theKempinski Grand Hotel des Bains inSt Moritz and the Kempinski GrandHotel in Heiligendamm are part ofthe international growing group.

MARKET REPORT 53

Golden Tulip Nizwa Hotel, whichis celebrating its 12 anniver-

sary, is expected to give more valuefor money for all its shareholders.

The hotel is planning a major expan-sion. As part of this plan, jacuzzi/sauna facility, a theme restaurantand villas (which could be rentedout to corporate clients, residents ofNizwa and international guests) willbe added. The hotel held a receptionas part of its 12th anniversary cel-ebrations to honour all tour opera-tors/travel agents, corporate compa-nies besides ministries and govern-ment officials who have patronisedand supported the hotel in the pastyears. In the early 90s the Sultanateof Oman was growing rapidly and

Nizwa being the cultural and heri-tage capital of Oman needed moreaccommodation to cater to thegrowing tourist market.

To serve the increasing demand ofthe market, Interior Hotels Co wasestablished and came up with aworld-class hotel in Dakhliyah re-gion in the year 1994 on the auspi-cious occasion of 24th National Dayof Oman.

Speaking on the occasion, Nasserbin Khamis Al Hashar, chairman ofthe company said that with theboost given to the tourism industry,Oman became a popular destinationamong tourists and to meet the in-creasing demand, the hotel ex-

panded its capacity and added 80more luxury rooms in the year 2000.The chairman further added that themission of the hotel is to maintainits reputation as the best 4-star de-luxe hotel in the Dakhliyah region.In pursuit of this aim, efforts andplans are being laid out for continu-ous upgradation of standards andservices to provide the guests un-matched hospitality.

Golden Tulip Nizwa entered into afranchise agreement with the inter-national brand, Golden Tulip Hotels,Inns and Resorts, which offer over500 hotels in 45 countries.

Nasser expressed his gratitude tothe Ministry of Tourism and to all

Golden TGolden TGolden TGolden TGolden Tulip Nizwulip Nizwulip Nizwulip Nizwulip Nizwa plans ea plans ea plans ea plans ea plans expansionxpansionxpansionxpansionxpansionSource: Times of Oman - 02 March 2007

structure commencing on site, andthe arrival of additional constructionequipment dedicated to the devel-opment, The Wave, Muscat, consid-ered to be the Sultanate’s most pres-tigious initiative, is now starting totake shape.

The landmark inaugural ceremonywas held under the auspices ofSayyid Al Mutassim bin Hamoud AlBusaidi, minister of state and gover-nor of Muscat.

Sheikh Mohammed bin Abdullah AlHarthy, minister of transport andcommunications; several govern-ment officials, dignitaries and topofficials of The Wave, Muscat, aswell as officials from one of TheWave, UAE based Majid Al FuttaimGroup, and Omani Pension Funds,attended the prestigious event.

In his address, Engineer Abdullahbin Abbas bin Ahmed, chairman,Muscat Municipality and chairmanof the board of directors, The Wave,Muscat, said: “We are extremelyproud to witness the start of the

construction of this most excitingaddition to this unique city.

“We are on course to deliver on ourcore mission to offer unparalleledinvestment and lifestyle opportuni-ties at The Wave, Muscat. It is veryexciting to see our vision come tofruition. We have assembled a fineteam of reputed contractors andconglomerates to ensure the suc-cess of the project and we are wellon schedule.”

Jeff Rossely, CEO, MAF Develop-ments, said: “The diligent processfollowed in the design, and now inthe implementation of our projectwill create an object of pride forMuscat and will ensure a quantumleap for the Omani tourism sector.”

The event celebrated the new con-struction phases and emphasisedthe progress achieved at the devel-opment. The Wave, Muscat, has re-cently announced numerous con-tracts amounting to more thanRO100 million with market leaders

Carillion Alawi, Al Turki Enterprises,Al Mashrikia-Travo and BauerSpezialtiefbau GmbH amongst othercontractors, for housing construc-tion and setting up of requisite in-frastructure and related supportstructures. The recent agreementsmark a pivotal stage in the develop-ment of the project.

The Wave, Muscat, is set to becomethe regional focal point, offering un-paralleled prospects to both localand foreign investors with a vast ar-ray of modern amenities, accommo-dation and leisure facilities, includ-ing Oman’s first sea facing links golfcourse — the signature course to bedesigned by renowned golfer GregNorman.

The Wave, Muscat, is being devel-oped through a joint venture com-prising Oman’s Waterfront Invest-ments (representing the Governmentof the Sultanate of Oman), NationalInvestment Funds Company (repre-senting Omani Pension Funds), andthe UAE-based Majid Al FuttaimGroup.


Assarain Concrete Products(ACP) yesterday launched a

number of new and innovative con-struction and landscaping products.

Salem bin Said Al Ghattami, presi-dent of the Oman Chamber of Com-merce and Industry presided over

the launching ceremony at GrandHyatt. Offering a diverse new rangeof products, ACP is continuing toextend its value for money to itscustomers, thereby raising the stan-dard of living in Oman. Over 300guests attended the ACP’s mega-launch event at the Grand Hyatt last

night. This included VIPs, dignitar-ies and representatives from thegovernment, consulting and busi-ness community.

Displayed on stage were the latestproducts set to benefit the generalpublic and the commercial sector

AAAAACP launcCP launcCP launcCP launcCP launches nehes nehes nehes nehes new prw prw prw prw productsoductsoductsoductsoductsSource: Times of Oman - 21 March 2007

Sharq Sohar’s multi-million-dollarSteel Melt Shop (SMS) unit will

come on stream by around Augustthis year, a company official said.The project, under development ona 25-hectare plot within the Port ofSohar, is now around 60 per centcomplete. Civil and structural worksare now complete, with equipmenterection set to commence shortly,the official added.

The Steel Melt Shop unit is beingdeveloped by Sharq Sohar SteelRolling Mills LLC (SSSRM), whichalready produces reinforcement bars(re-bars) at its existing rolling mill atthe nearby Sohar Industrial Estate.Conceived as a backward integra-tion plant, the new steel-making unitwill produce initially 200,000 tonnesper annum of continuous cast mildsteel billets.

Capacity will be boosted to 500,000tonnes per annum in the next phase

of the project’s development. Scrapiron, the main raw material for theproject, will be sourced locally, aswell as from the United Arab Emir-ates. Melt shop technology is beingprovided by IDC of Turkey, a majorforce in scrap-based manufacture ofsteel billets. The entire output ofsteel billets is earmarked forSSSRM’s rolling mill, which pres-ently depends on steel billet importsfrom Ukraine and other markets.

When the Melt Shop unit is opera-tional, Sharq Sohar’s capabilities willextend from steel-making to rolling,the official said. In addition to usingscrap as raw material, the plant isalso configured to use Direct Re-duction Iron (up to around 30 percent). Established in 1995, SSSRM’srolling mill currently operates ataround 295,000 metric tonnes perannum, producing a mix of 8 mm to32 mm high strength reinforcementbars conforming to BS, ASTM and

SASO standards.

Today, the company is the largestproducer of new generation highstrength reinforcement bars in theSultanate. The plant also comeswith an epoxy coating unit, whichprovides rust and corrosion-proofcoated rebars for the constructionindustry. The company enjoys astrong market presence in Oman,UAE, Saudi Arabia and other coun-tries of the Middle East.

Sharq Sohar’s products have beenused in the construction of a num-ber of prestigious projects includingSohar Port, Sohar Refinery, OmanMethanol, Barr Al Jissah Resort,Omifco fertiliser project, Al Khoudhand Al Mawaleh interchanges, andSohar Aluminium, among others.Customers in the region includeDubai Airport, National PetroleumCorporation (Iran), Qatar Petroleum,and Saudi Arabia’s SGCM.

Sharq Sohar’s Steel Melt ShopSharq Sohar’s Steel Melt ShopSharq Sohar’s Steel Melt ShopSharq Sohar’s Steel Melt ShopSharq Sohar’s Steel Melt Shopttttto commence operations in Ao commence operations in Ao commence operations in Ao commence operations in Ao commence operations in Augustugustugustugustugust

Source: Oman Observer - 15 March 2007

other ministries for helping in pro-moting the tourism sector in andoutside Oman.

Sarfraz Ahmed Sethi, general man-ager, Golden Tulip Nizwa said: “Ouraim is to combine the cultural heri-tage of Oman with all the interna-

tional standard amenities to ensurethat the stay of the travellers ispeaceful, relaxed and memorable.”

Sethi expressed his thanks to thetours operators/travel agents, cor-porate executives and representa-tives of embassies and ministries

who were present at the function fortheir patronage and assured con-tinuous and long lasting businessrelationship. Golden Tulip Nizwa islocated an hour drive from Seeb In-ternational Airport, Muscat and isideal for both business and leisuretravellers.

MARKET REPORT 55

Multi-billion investments inOman’s rapidly developing

iron and steel industry are expectedto impact positively on domesticsteel prices, currently hovering atnew highs, Shaikh Mohammed binAbdullah al Harthy, Minister ofTransport and Communications,said here yesterday. Speaking at theopening of the Arab Steel Summit2007, which is under way at theGrand Hyatt Muscat, he said thecountry’s burgeoning iron and steelsector would play a significant partin meeting future domestic demandfor steel products vital for the con-struction industry, as well as petro-chemical and industrial projects.

The two-day summit, organised bythe Arab Iron and Steel Union(AISU) in co-operation with theMinistry of Commerce and Industry,has attracted a number of heavy-weight players in the regional ironand steel industry. Oman’s hosting

of the prestigious event, Al Harthynoted, was in recognition of thecountry’s emergence as a steel-pro-ducing nation. “Mindful of theSultanate’s geographical locationclose to the major steel consumingmarkets of south-Asia, particularlyChina and the Indian sub-continent,the Oman Government had taken astrategic decision to foster invest-ment in a domestic iron and steel in-dustry. Five years ago, the govern-ment embarked on a heavyindustrialisation drive centring onsteel and aluminium,” Al Harthysaid.

He noted in this regard the Port ofSohar’s strategic location for invest-ments in iron and steel projects.Good infrastructure, access to en-ergy, proximity to consuming mar-kets and excellent transportationlinks are factors that lend a competi-tive edge to projects located inSohar, he said. The industrial port

has already attracted commitmentsof around $5 billion in investmentsin iron and steel projects. These in-clude Oman’s first steel making unitby Shadeed Iron and Steel, a pro-posal for a major seamless tubeplant by Shadeed with India’s JindalSaw, an iron ore pelletising plantBrazilian mining giant CompanhiaVale do Rio Doce (CVRD), a SteelMelt Shop by Sharq Sohar SteelRolling Mills and a Merchant BarMill by Al Jazeera Steel Products.

Later, speaking to journalists,Maqbool bin Ali Sultan, Minister ofCommerce and Industry, noted thatthe present high cost of steel was aworldwide phenomenon and not lim-ited to Oman. Global consumptionof steel, he said, had increased sig-nificantly on the back of strong eco-nomic growth. Freight costs oftransporting steel from producingcountries to consuming markets toohad risen some 200 per cent, while

New projects will ease steel pricesNew projects will ease steel pricesNew projects will ease steel pricesNew projects will ease steel pricesNew projects will ease steel pricesSource: Oman Observer - 14 March 2007

alike, ranging from new generationdesign of interlocking tiles to latestdry pre-mixed plasters and rendersto the most wonderful landscapingproducts.

Assarain Concrete Products had al-ready grown multifold in the lastfive years. Assarain and Alserkals,both very renowned and respectedbusiness houses of Oman andDubai, respectively, have joinedhands in Dubai and commissioned avery large concrete products manu-facturing plant at the Dubai Invest-ment Park. This apart, they havealso committed large investment inSohar for a similar facility. This willmeet the growing demand forAssarain products from the con-struction industry. ACP has thehighest market share in the marketby way of having an innovativerange of products and designs.

Launching latest products in themarket, ACP, in its core competencyarea, introduced the ‘Najmah-Galaxyseries’ of paving tiles for the morediscerning and niche clients. ACPhas been the pioneer in Oman to in-troduce Light and Semi LightWeight Blocks, which are supposedto be giving good savings in con-struction. ACP has also come inwith patented products like reflec-tive pavers and innovative paversystem for roads and airport con-struction respectively.

ACP is the exclusive agent in Omanfor “Plaxit” products, manufacturedin UAE, making cement, gypsum orlime based dry pre-mixed mortarsand renders. Simultaneously, a newsystem for carrying out high speedplastering over large areas throughautomatic silos and plastering ma-chines were also presented, a sys-

tem never used earlier in Oman. ACPManaging Director Khalid Said AlWahaibi reaffirmed: “As a dedicatedteam, we remain committed as a part-ner to the construction industry, to-wards creating a beautiful Oman,and ACP will continue to fulfil itspledge to its customer base by wayof bringing in beneficial and novelproducts to them.”

Ibrahim Said Al Wahaibi, managingdirector for investments spokeabout the group’s focus on its prod-ucts. He said Oman is growing inleaps and bounds to fulfil the re-quirements of the market. A. R.Varma, general manager of ACPgave a clear insight into the group’sphilosophy, work ethics and values.In recent years, ACP’s growth hasbeen in a definitive direction ofquality, innovation and competitivepricing.


Shadeed Iron & Steel aims to ex-pand the total capacity of its gi-

ant Sohar complex to 3.5 milliontonnes per year (mtpy) by 2010-11, atop company official said.

Ali Hamil al Ghaith, General Man-ager of the UAE-based Al GhaithHolding PJSC, the majority share-holder of Shadeed, said the increaseis proposed to be achieved throughcapacity expansion and product di-versification.

Addressing the Arab Steel Summit2007, which began in Muscat yes-terday, Al Ghaith said: “We have al-ready set our sights towards our fu-ture plans and we look forward todeveloping a fully integrated state-of-the-art steel complex at our site,so as to achieve the vital edge interms of product diversification andalso to maximise the production ca-pacity to 3.5 mtpy by 2010-2011.”

Shadeed is currently building theSultanate’s first steel-making unitcomprising a 1.5 mtpy Direct Reduc-tion Iron (DRI) plant with a 1 mtpySteel Melt Shop at a site within theindustrial Port of Sohar. Total in-vestment in this project is estimatedat $700 million. Work on the DRIunit, which is being built by Japan’sKobe Steel on an engineering-pro-curement-construction (EPC) basis,

is now 38 per cent complete, said AlGhaith, who is also Chairman ofShadeed Iron & Steel.

“The foundation of the shaft fur-nace area has been duly executedand the furnace structure is cur-rently under erection. As you maynote, progress on the DRI unit isvery aggressive as we are planningto start commercial production atthe DRI unit by the end of 2008.”Last month, the Al Ghaith Group an-nounced plans to set up a majorseamless tubes plant at Sohar at anestimated cost of $4 billion in jointventure with India’s Jindal Saw. En-visioned as part of the new project,Al Ghaith said, is a 0.5 mtpy capac-ity seamless pipes manufacturingfacility along with the production of1 mtpy of billets.

“We at Shadeed strongly believethat such product diversificationwould definitely enhance the com-petitive abilities of our plant andwould support our future expansionprogrammes and strategies,” hesaid. Emphasising the robust cre-dentials of the project, he said thecompany had already concluded allthe relevant strategic contracts withthe Omani government, covering thesupply of gas, power and seawater,as well as the construction of aquay wall of –19-metres draft. In ad-

dition, agreements linked to the sup-ply of raw materials have also beeninked with Samarco, LKAB, GIICand CVRD.

Significantly, Shadeed’s develop-ment will lead to a number of firstsin the region, Al Ghaith said. Be-sides being the first steel plantbased on Hotlink Midrex technol-ogy, Shadeed will also develop thefirst-of-its-kind seamless tube mill inthe region. The project also boaststhe first fully dedicated quay wall of600-metre length and –19 metredraft. All of these factors under-score the project’s competitive andstrategic advantage, he noted.

“Our vision is to become one of theleading steel makers in the region ina very short period of time and toexpand our business in this field toreach new horizons. Towards thisend, we are ready and open to anyand all commercial proposals thatmight be raised from regional oroverseas partners. It needs to berealised that only be combiningknowledge and expertise we canmove towards extreme competitive-ness, which indeed is required toconvert the Gulf region into themost competitive region in steelmaking and to elevate this region tothe top of the world steel-makingmap,” Al Ghaith stated.

Shadeed IrShadeed IrShadeed IrShadeed IrShadeed Iron & Son & Son & Son & Son & Sttttteel teel teel teel teel to boost capacityo boost capacityo boost capacityo boost capacityo boost capacityttttto 3.5 mtpo 3.5 mtpo 3.5 mtpo 3.5 mtpo 3.5 mtpy by by by by by 20y 20y 20y 20y 20111110-110-110-110-110-11


demand from China and East Asiacontinues to drive up prices. Hevoiced optimism that the upwardtrend in steel prices would ease offas new steel production units cameon stream.

AISU Chairman M S al Jabr, in hisaddress at the summit, noted theArab region’s growing influence asa steel producer. Total global steelproduction capacity is set to climb

to 35 million tonnes per year by2010, from around 25 million tonnesin 2007. The Arab region will ac-count for roughly half of this newcapacity, he said.

AISU Secretary-General M LLachgar urged Arab producers toseriously look at opportunities formergers and acquisitions in order toremain competitive. Several well-known names in the regional iron

and steel industry are taking part inthe Summit. They include Saudi Ba-sic Industries Corporation (SABIC),Al Ghaith Holding, GHC EmiratesIron Industries, Libya Iron andSteel, Jordan Steel, CVRD Interna-tional, Monnet Ispat & Energy (In-dia), Al Ghurair Steel (UAE), andUnited Gulf Steel (Saudi Arabia). Anumber of leading equipment andtechnology suppliers are attendingas well.

MARKET REPORT 57

The Wave, Muscat, Oman’s leading tourism and beachfront resi-

dential development, has an-nounced the appointment of“Fairmont Hotels & Resorts”, a glo-bal hospitality leader with 50 hotelsacross 10 countries, to manage thegolf resort hotel. This was an-nounced by officials from TheWave, Muscat and Fairmont at apress conference.

The announcement marksFairmont’s foray into Oman. High-lights of the resort, scheduled toopen in 2010, include 300 rooms andsuites, restaurants, meeting facili-ties, Willow Stream Spa and brandedresidential offerings. The resort willbe located adjacent to the 18-holechampionship links course designed

by Greg Norman. The tourism com-ponent of The Wave will comprisefour hotels, and guests will be ableto enjoy the many recreational andretail facilities available throughoutthe community.

Announcing the maiden hotel atThe Wave, Abdullah bin Abbassaid: “It is a matter of great privilegeto announce that Fairmont Hotels &Resorts has signed with The Wave,Muscat, a project which is the prideof Oman. The management expertiseof a world-renowned hotel brandsuch as Fairmont will ensure thehighest levels of service.” “TheWave, Muscat epitomises the aspi-ration and culture of the Sultanateof Oman and we are committed todelivering exceptional residential,

FFFFFairmont joins The Wairmont joins The Wairmont joins The Wairmont joins The Wairmont joins The WaaaaavvvvveeeeeSource: Oman Observer - 12 March 2007

retail and leisure offerings. Our part-nership with Fairmont is part of ourstrategy to involve the finest com-panies in their industries to realisethis vision,” he added.

In his statement, John Johnston, Ex-ecutive Vice-President of Fairmont,said: “We are delighted to be part ofthis premier development project,which offers unrivalled travel andlifestyle opportunities in one of themost prominent integrated develop-ments in the Middle East. Our firstproperty in Oman reinforces our ex-pansion strategy in the region anddemonstrates our commitment toworking with key partners to de-velop world-class properties andbuild upon our brand’s globalstrength.”

Oman’s credentials as an emerging steel producing heavy-

weight will be underlined at theArab Steel Summit 2007, whichopens at the Grand Hyatt Muscattomorrow. The Sultanate’s hostingof the two-day forum is a reflectionof its impending status as a majorsteel-producer, according to an offi-cial of the Ministry of Commerceand Industry, which is organisingthe event jointly with the Arab Ironand Steel Union (AISU).

A nascent iron and steel industryhas already attracted commitmentsof around $5 billion in investmentsin new projects at the industrial Portof Sohar. They include a steel unitbeing developed by Shadeed Iron &Steel LLC at a cost of around $750million. Shadeed’s promoters — theAl Ghaith Group — has also re-

cently outlined plans to establish amajor seamless tube plant at Soharwith India’s Jindal Saw Internationalat an estimated cost of $4 billion.

Another giant venture contemplatedat Sohar is an iron ore pelletisingplant by Brazil’s Companhia Vale doRio Doce (CVRD), one of theworld’s biggest metal and miningcompanies. Total investment in theproject is estimated at over $1 bil-lion. Other related ventures underdevelopment at Sohar include aSteel Melt Shop by Sharq SoharSteel Rolling Mills, and a MerchantBar Mill by Al Jazeera Steel Prod-ucts.

Al Khusaibi sees significant payoffsto Oman as the host of this week’sArab Steel Summit 2007. “Besideshighlighting the Sultanate’s appeal

as a destination for investments iniron and steel ventures, this eventwill also give impetus to thegovernment’s desire to encouragedownstream investments in this sec-tor. We have adopted investor-friendly licensing procedures, whilea One-Stop-Shop will speedily pro-cess applications at the Ministry,”he said.

AISU, a grouping of 85 companiesfrom 15 different Arab countries, ac-counts for roughly 90 per cent of to-tal steel production in the Arab re-gion. Total output exceeded 19 mil-lion tonnes in 2005, which was pro-jected to reach about 21 milliontonnes last year. With several newprojects in the pipeline, total pro-duction capacity in the region is setto grow significantly over the nexttwo years, according to AISU.

SSSSSttttteel summit teel summit teel summit teel summit teel summit to highlight Oman’s emerenceo highlight Oman’s emerenceo highlight Oman’s emerenceo highlight Oman’s emerenceo highlight Oman’s emerenceas a steel producing nationas a steel producing nationas a steel producing nationas a steel producing nationas a steel producing nation



Coral Int’l Hotel begins operations in OmanCoral Int’l Hotel begins operations in OmanCoral Int’l Hotel begins operations in OmanCoral Int’l Hotel begins operations in OmanCoral Int’l Hotel begins operations in OmanSource: Times of Oman - 30 January 2007

Faisal Al Humoud Al Malek AlSabah, ambassador of the state

of Kuwait, inaugurated the CoralHotel belonging to the Coral Inter-national Hotels, Resorts & Spasgroup in Muscat yesterday.

Keifi Omori, ambassador of Japanalong with Michel Noblet, group’smanaging director, SuleimanMohammed Al Yahyai, owner andBob Khalife, general manager werealso present on the occasion.

“Oman is witnessing a rapid growthin tourism. According to official esti-mates, the sector’s contribution tonational GDP will increase to 3 percent by 2020 from the current 0.9 percent. This would raise tourism rev-enues to a staggering OR130 million,thus offering the perfect breedingground for any new hotel ventures.We are delighted to welcome CoralInternational Hotels, Resorts &Spas to this dynamic scenario,” saidYahyai addresing a press confer-ence after the inauguration.

“Coral International enters Oman ona strong footing. Having firmly es-tablished its credentials on thehome turf (Dubai), the group is ea-ger to explore international opportu-nities,” informed Noblet

“We believe in the leadership andvision of His Majesty SultanQaboos bin Said. Owing to his far-sighted policies, the Sultanate hasbecome an oasis of stability andprosperity. Rich in natural assetsand cultural heritage, it provides anattractive and safe destination fortourists,” Noblet added.

Driven by ambitious domestic andoverseas expansion strategy, CoralInternational is in the midst of mas-sive development. Created in 2003,the Dubai-based hotel chain is wellon target of having 25 properties inits first 5 years of operation.

Unvieling statistics Noblet said, “Sofar we have got nine hotels opera-tional and another 20 under devel-

opment. Apart from the UAE, mostof these projects are located in dif-ferent parts of the Middle East in-cluding Kuwait, Saudi Arabia, Leba-non, Bahrain, Qatar and Oman.Soon we have an amazing projectcoming up in Seeb in Muscat.”

The Coral Hotel, Muscat has re-cently undergone an interestingmakeover with new facilities, reno-vated rooms and two new food out-lets with terraces. However, theproperty still retains its signaturefeatures like the beautiful façadeand the spectacular staircase whichacts as the centrepiece of the lobby.

All rooms are decorated in contem-porary, urban style with delightfullocal touches. The suites are sensa-tional too and are equipped withtop-notch amenities includingplasma/ flat TV screens. Twenty-four hour room service and a warmand welcoming staff catering to allyour needs, thus making your staytruly enjoyable.

The price rise, which has hit consumers hard, is no longer lim-

ited to food, but affected houseconstruction as well.

Oman Tribune found out that pricesof iron, cement, wood, electricalgoods and pipes have also in-creased manifold. As a result, sev-eral individuals, who planned tobuild their own houses have eithercancelled or postponed their plans.However, those whose houses areunder construction have been hithard by the sudden increase in theprices of these commodities.

Abdullah Al Habsi is one such vic-

tim. His two-storey house has beenunder construction for about a year.He says: “I used to buy a cementbag for RO1.200. Now one bag costsRO1.700.”

Aya Al Hooti said: “When I asked acontractor for an estimate for ahouse I intend to build, he told methat a square-metre would cost ap-proximately RO120. It used to beonly RO80 not very long ago.” Shehas planned to postpone it for thetime being.

Fahd Al Amri, whose house is underconstruction, said that the rise inprices of iron and cement had led toan increase in the prices of wood,

water pipes and even electricalequipment. “The cost of a woodendoor went up to RO800 fromRO400.”

Mohammad Al Siabi said: “I wasthinking of building a house, but Iwas frustrated by the increase in theprices of building material. It com-pelled me to change my mind.The government must intervene tocheck this phenomenon.”

A contractor said that the rise in theprices of building materials, such ascement, iron, wood, sand and evenlabourers’ wages caused big lossesto them as well.

Cement, wood prices upCement, wood prices upCement, wood prices upCement, wood prices upCement, wood prices upSource: Oman Tribune - 06 March 2007

MARKET REPORT 59

The Sheraton Oman Hotel hasclosed its doors as of yesterday

after a 22-year journey.

The reason for closure is for theproperty to undergo a $25 millionrenovation programme that will re-sult in a complete transformation.The scheduled date for reopening isin October 2007 in time for the Eidholidays.

The Sheraton Oman Hotel cel-ebrated this historic landmark bysaying good-bye to their last in-house guests, the Mueller(s) fromGermany, who have been visitingthe Sultanate of Oman over theChristmas and Eid holiday period.

They both commented how exciting

their trip had been and that they hadenjoyed the true and authentic Arabhospitality extended to them duringtheir stay by the people of Oman.Regarding their hotel stay they hadhigh praises for the team at theSheraton Oman who had extendedgreat service to them during theirstay and they are already lookingforward to returning to the propertyfollowing the renovation. Otherprominent departures included thecrews of Indian Airlines and BimanBangladesh Airlines. Between themthey have occupied 250,000 roomnights and consumed some 750,000meals at the hotel and have beenamongst the strongest supportersof the Sheraton Oman Hotel.

Talking to the associates of the Ho-

tel, Chandrakant Bilgi, director of fi-nance, recalls that his 21 years ofservice at the Sheraton Oman Hotelhave been absolutely wonderful.Recalling his first day of work at theSheraton Oman Hotel he said: “Thelevel of excitement on day one ofthe opening of the Sheraton OmanHotel was such an occasion that heis eagerly awaiting the unveiling ofthe renovated Sheraton Hotel laterin the year”.

While the Sheraton Ruwi will beclosing for renovation, the SheratonQurum Beach resort will remain fullyoperational, seven days a week,through out 2007. The resort hasseven bedrooms, five with seaviews and balconies; extensive gar-dens with direct access onto beach.

SheratSheratSheratSheratSheraton Oman closed fon Oman closed fon Oman closed fon Oman closed fon Oman closed for $25m renoor $25m renoor $25m renoor $25m renoor $25m renovvvvvationationationationationSource: Times of Oman - 8 January 2007

The Wave, Muscat, has awardednumerous contracts worth more

than RO100 million to constructioncompanies, a majority of themOmani. The committing of the con-tracts indicates that development onThe Wave, Muscat, Oman’s leadingtourism and beachfront residentialdevelopment, has taken a giant leapforward in the New Year.

The Wave signed on with marketleaders Carillion Alawi and Al TurkiEnterprises amongst other capablecontractors, for housing construc-tion and setting up of requisite in-frastructure and related supportstructures. Carillion Alawi LLC, anestablished Omani company respon-sible for the construction of severalillustrious Omani structures, hasbeen commissioned by The Wave tobuild 191 townhouses in the premierproject.

Other infrastructure work to be un-

dertaken by the company includesmanufacture of quay wall blocks forthe marina and manufacture of core-loc blocks for the offshore reef.

Another major local developer, AlTurki Enterprises, will be involved inthe construction of 303 villas as wellas infrastructure work which in-cludes all of the services.

Speaking about the landmark agree-ments, Abdulla bin Abbas binAhmed, chairman of the board of di-rectors of The Wave, said: “TheWave is the pride of Oman, a dis-tinct project, designed to reflect theaspiration and culture of the coun-try offering a stylish communitylifestyle. We are entirely committedto our vision of the project and weassign the finest companies in thefield to realise this vision.”

“Commissioning construction worksto Omani companies, Carillion Alawi

and Al Turki is not only a strategicmove but proves that we continueto adhere to the highest qualitystandards in our field. We are confi-dent that at this tempo, the projectwill soon join the league of the topresidential community projects inthe Middle East,” he said.

Construction contracts have alsobeen awarded to the joint venturebetween local Al Mashrikia-TravoLLC and Societe Nationaled’Enterprises from Lebanon for off-shore reef construction based ontheir extensive experience in marineworks. Furthermore, BauerSpezialtiefbau GmbH from Dubaihave grabbed the piling contract.

Phase 1 of the manufacturing of thequay wall blocks will comprise ap-proximately 3,900 blocks, rangingfrom 30 to 80 tonnes and there willalso be 20,000 core lock units manu-factured.

The WThe WThe WThe WThe Waaaaavvvvve ae ae ae ae awwwwwards Rards Rards Rards Rards RO 1O 1O 1O 1O 100m contracts00m contracts00m contracts00m contracts00m contractsSource: Times of Oman - 28 January 2007


Muscat set for a real estate boomMuscat set for a real estate boomMuscat set for a real estate boomMuscat set for a real estate boomMuscat set for a real estate boomSource: Times of Oman - 8 January 2007

A real estate boom is set toemerge in Muscat as the

economy is increasingly consideredas an attractive investment destina-tion for regional and foreign inves-tors.

Oman doesn’t support unwarrantedspeculation. Nevertheless, real es-tate development plans, in the gov-ernment and private sectors, accord-ing to official sources, are beingpursued actively. Citizens fromneighbouring countries, especiallyfrom the UAE, Saudi Arabia, Jordan,Lebanon, Egypt, Qatar and Kuwaitare keen to invest in Oman’s real es-tate sector. The prices of certainnew properties — completed andunder construction — are quoted at25-30 per cent premium.

“As long as the authorities ensure ahealthy appreciation of real estateprices, Oman will remain as an idealreal estate investment destination.Nevertheless, potential buyers,businessmen or salaried-classshould not expect real estate pricesto reach an incredulous dimension.Undoubtedly, real estate will wit-ness a reasonable increase inprices,” a real estate investmentconsultant from Dubai told theTimes of Oman. Businessmen fromPakistan and India are also keen tobuy properties in Oman.

The salaried-class, especially thehigh-income and middle-classgroups prefer buying small and me-dium-size villas and flats. Buyers,sources said, prefer investing inproperties, preferably in and aroundthe capital area rather than buyingproperties in the interior.

They also prefer buying new prop-erties rather than buying 15-20-year-old properties regardless of the lo-cation.

Most buyers judge that the Muscatregion will remain as one of the key

contributors to the nation’s con-struction and economic vitality. “Aboom in Oman’s construction, inone form or the other, is alreadythere. It is evident from the recentupsurge in the number of expatriateworkers in the construction sector.

The number of expatriates workingin Oman’s construction sectorclimbed 20 per cent to nearly 145,000in the first nine months of the cur-rent year ended September 30, 2006.Foreign labour is a vital componentof the construction sector. Moreprecisely, the construction sectorcreated nearly 25,000 fresh jobs forexpatriates in nine months since De-cember 2005,” official sources said.Consumer spending has recordedits biggest increase in December2006 on Christmas, Eid and NewYear holidays.

Inflation is on the rise, and the pre-vailing relatively moderate inflationof more than three per cent setsenough room for further growth ineconomic activity. Technically, thetotal number of Omanis and expatri-ates working in the private sectorhas witnessed almost similar growthin 2006.

The number of Omanis and expatri-ates working in the private sectorgrew by 12.2 per cent and 13.6 percent, respectively, in the first ninemonths of 2006 to about 110,600 and482,700, respectively.

More importantly, Oman’s privatesector created nearly 58,000 freshjobs for expatriates and more than12,000 jobs for nationals during thefirst nine months of 2006.

“The increase in jobs for expatriateshas resulted in an increased real es-tate and economic activity, and inthe capital area, no flats are avail-able. If available or so, landlords aredemanding unreasonable rates. Ex-patriate consumer confidence has

increased to an all-time high duringthe last quarter of 2006, which wasreflected in their overall spending.

“The year also witnessed a signifi-cant increase in number of expatriatebank accounts in Oman, spendingfor cars and electronic goods, num-ber of credit cards and other goodsand services. Those expatriates liv-ing with their families spend a largeportion of their salaries here, fuel-ling the nation’s economic activity.Those who live alone spend a lot ontelephone calls, food, travel and en-tertainment,” a businessman opined.

The government is already allowingforeign nationals to buy propertiesin selected areas. Leading banks areoffering housing loans to both na-tionals and expatriates at attractiverates. For a foreigner, buying real es-tate in Oman is more or less like aninvestment in fixed assets, in a calmand emerging world-class MiddleEast city rather than buying prop-erty in a foreign country. “The Mus-cat real estate sector is on the roadto international fame. Indeed,projects such as Blue City and TheWave will create goodwill forOman’s property market. Buyers,however, should not expect an un-warranted boom in Oman’s real es-tate sector, but of course, a reason-able boom is in sight,” a consultanttold Times.

A little push by the authorities, ac-cording to industry captains, willcreate wonders in Oman’s real estateand tourism sectors. No doubt, con-crete plans to build hotels and cor-porate offices is set to fuel the con-struction industry, in terms of activ-ity, cement production, fuel demand,employment opportunities, infra-structure, international goodwill.Many international businesses hereare exploring the scope of con-structing own offices, and a fewhave already started constructingtheir own office buildings.

MARKET REPORT 61

Al Madina Real Estate Company(SAOC) has recently launched

Tilal Al Khuwair Tourism Project,under the auspices of Dr Rajiha bintAbdulamir bin Ali, minister of tour-ism, in the presence of a number ofofficials.

Khamis bin Rashad Al Kiyomi, thecompany’s board chairman, gave aspeech in which he said the projectreflected the significant role the pri-vate sector played in the construc-tion sector in Muscat and theSultanate’s various cities.

Abdulrahman bin Awadh Barham,CEO of the company, said the ideaof the project was based on the con-cept of integrity with the mega tour-ism projects in Muscat.

“The project provides the atmo-

Al Madina Real Estate CompanyAl Madina Real Estate CompanyAl Madina Real Estate CompanyAl Madina Real Estate CompanyAl Madina Real Estate Companylaunclaunclaunclaunclaunches major thes major thes major thes major thes major tourism prourism prourism prourism prourism projectojectojectojectoject

Source: Times of Oman - 2 December 2006

The Wave, Muscat, a world-classbeachfront tourism and residen-

tial community, will launch its crucialsecond phase of sales on Dec. 16.

On offer is the much-anticipatedsecond collection of homes in thescheme will be 151 properties villasand townhouses.

There are 90 villas (16 waterfront,rest are garden front) and 61 boule-vard townhouses.

Announcing this at a press confer-ence yesterday, Nick Smith, chief ex-ecutive officer of The Wave, saidthat all the properties will be givenon a first come first served basiswhen the doors of the Sales Centrein Seeb open at 9am on December16.

Keen interest from potential pur-chasers from India, UK, Nether-lands, etc., prior to this secondphase launch indicates that homesat this premier project will besnapped up fast. Around 60 proper-ties have already been booked un-der the early reservation scheme.

A non-refundable payment ofRO3,000 will be required from poten-tial home buyers. Following this, a

first payment of 10 per cent needs tobe completed within a duration of 10working days, of which the RO3,000will count towards.

The Wave is the first project, whichis offering properties on a free-holdbasis for foreigners. Attractive fi-nance options are also availablewith National Bank of Oman (NBO)and Alliance Housing Bank for buy-ers including expatriates.

Prices range between RO115,000and RO450,000 at an average priceof around RO245,000.

The launch of the second phase fol-lows the overwhelming success ofthe first phase homes, which are ex-pected to be ready by the first quar-ter of 2008 coinciding with thecompletion of the golf course.

Phase two will comprise a wide se-lection of stylish townhouses, aswell as garden and waterfront villasthat have been carefully craftedaround extensive landscaping, openparks and lakeside recreation areas.

All properties will be finished to thehighest standards, boasting stylishinteriors along with spacious privategardens and off-street parking.

John Langford, VP of sales and mar-keting said: “In the light of the phe-nomenal success of the first resi-dential release, which was worth inexcess of $100 million, as well as thetremendous interest we have re-ceived since, we expect the nextphase to be very popular.”

“The location, the quality of the de-sign, the outstanding facilities alongwith freehold ownership for foreignnationals, all combine to make ahome at The Wave an extremely at-tractive prospect,” John said.

Upon completion, The Wave will bea fully master planned communityoccupying a total area of 2,500,000square metres stretching along 6kmof natural beach and will include astring of man-made lakes and is-lands.

The development will encompass asignature 18 hole green links golfcourse designed by renownedgolfer and designer Greg Norman, a300 berth marina, four luxury hotels,retail and restaurant outlets alongwith approximately 4,000 one andtwo bedroom apartments, three andfour bedroom town houses and gar-den, waterfront and beachfront vil-las.

Second phase of The WSecond phase of The WSecond phase of The WSecond phase of The WSecond phase of The Waaaaavvvvve’s salese’s salese’s salese’s salese’s salesttttto begin on December 1o begin on December 1o begin on December 1o begin on December 1o begin on December 166666

Source: Times of Oman - 12 December 2006


Majan Gulf Properties LLC(MGP), designers and devel-

opers of the ‘Sohar Residential andCommercial Project’, the largest realestate venture in the Wilayat ofSohar, announced their first projectfinance milestone to be partnered bythe leading UAE bank, NationalBank of Abu Dhabi (NBAD) at aproject finance signing ceremonyheld in Muscat recently.

Speaking at the signing ceremony,Mohammad al Marzouqi, Chief Ex-ecutive Officer, and co-founder ofMGP remarked, “In tandem with theindustrial developments initiated bythe Government of Oman, we aim todevelop Wilayat Sohar’s residentialand commercial utilities to cope withthe influx of new residents and visi-tors.”

The signing of the project financingis for part of the first component ofthis project, ‘The Springs Com-pound’ which is spread over a totalarea of 60,000 m2 comprising 106luxury villas. The complete projectincludes the ‘Residential Villa Com-pounds’ which will encompass 570villas.

Commenting on the occasion,Ahmed al Musalmi, Head of Opera-tions and Business Development,NBAD, said, “We are extremely ex-cited about our new partnership,and are confident that Majan Gulf

Properties’ finely honed knowledgeof the national and internationalmarkets, coupled with their experi-ence and professionalism will con-tribute to the success of the luxuri-ous Spring Villas Compound. Thiswill also provide a huge impetus tothe overall development of theSohar Residential and CommercialProject.”

Jayant Krishnaswami, Manager,Credit and Marketing, NBAD added,“The immense economic and socialopportunity present in the develop-ment of this project is very tangible,and will help in bringing to theWilayat of Sohar as well as the en-tire region the prosperity andgrowth it seeks to achieve.” Thefirst phase of the Springs Com-pound construction started on Oc-tober 15 and is slated for completionby the end of 2007. “Efforts are un-der way to market the project and tosell units in this first phase, withbookings opened by end of Q12007”, added Marzouqi.

MGP has on the anvil a number ofother landmark projects including AlBustan deluxe furnished apart-ments; ‘The Pearl’, an inspiring searesort located in Mejis, Sohar; theMajan Logistics City; and theKhasab Family Resort inMusandam. “The Wilayat of Soharis distinguished by its huge poten-tial as a highly promising commer-

cial centre. These projects aim to actas a spearhead in the overall indus-trial revolution in the Wilayat ofSohar as well as to aid the initiativesof the government to increase tour-ism to the Sultanate”, explainsMarzouqi.

Set on an area of over 134,000 sq mnear the Sohar Industrial Estate,Majan Logistics City will be devel-oped to include a high end commer-cial and headquarters bay, a com-mercial and multifunctional servicebay; a light industry bay forspecialised assemblies, nutrition/pharmaceutical storage and han-dling, and so on; a bay for clean in-dustries ranging from light metalproduction down to textile, signa-ture and reproduction industry; andlabour camps and catering facilities.

A Memorandum of Understanding(MoU) on the establishment of thecomplex is under negotiation withinvestors from Saudi Arabia. ThePearl resort is envisaged as an up-scale commercial and residentialcomplex set on a 10,000 sq m plot. Itwill feature meeting halls, high-endboutiques and shops, while the up-per levels will house luxurious apart-ments. Also envisioned are a marina,sea walkways and other amenities.Detailed designs are due to be com-pleted by January, while the promot-ers finalise an MoU with an anchorinvestor from the GCC.

Finance deal signed for majorFinance deal signed for majorFinance deal signed for majorFinance deal signed for majorFinance deal signed for majorreal estate project in Soharreal estate project in Soharreal estate project in Soharreal estate project in Soharreal estate project in Sohar

Source: Oman Observer - 1 November 2006

sphere of shopping and entertain-ment and the hotel hospitality,” hesaid noting that the preliminarystudies had showed the necessityfor family entertainment facilities toserve the Gulf tourism.

The location of the project was se-lected after precise studies that tookinto consideration the direction of

the city extension and its distancefrom the airport and its connectionto the new road networks, whichprovides smooth traffic to and fromthe site, observed Al Kiyomi.

A number of technical, economicand legal studies were conducted incooperation with international com-panies working in the field. In the

management of the project, thehighest occupational criteria wereapplied, he added. In the project de-sign, the company availed itself ofthe expertise of reputed interna-tional companies working in thisfield. The project includes MuscatGrand Mall, five-star hotels and resi-dential apartments on an area of7,7000 sq.m. in Al Khuwair area.

MARKET REPORT 63

Safeer Group is building one ofthe biggest malls in the Sultan-

ate in Sohar to cater to the increas-ing shopping needs of residents inthe area.

Creating a world of its own in abuilt-up area of 36,000 squaremetres, the mall will house a majorhypermarket spread in an area of10,000 sq metres, an exclusive

amusement area of about 2,500 sqmetres and 67 outlets dealing inpopular brands, Ajith Kumar, Leas-ing Manager of Safeer Group inOman told the Observer.

SafSafSafSafSafeer Greer Greer Greer Greer Group toup toup toup toup to seo seo seo seo set up mega mall in Sohart up mega mall in Sohart up mega mall in Sohart up mega mall in Sohart up mega mall in SoharSource: Oman Observer - 18 October 2006

Whatever temporary shortagesthere may be in Oman, suc-

cess doesn’t appear to be amongthem. Near 100 per cent occupancyin local hotels has prompted a fore-cast that the market will need 1,000more rooms within the next threeyears. And real estate projects, es-pecially those directed at touristsand foreigners, are reporting highsales before the contractors evenmove out.

Although a rising and increasinglyyoung population provides the ba-sis for sustained, long-term real es-tate growth, the impetus this yearalmost all stems from the decision inthe spring to allow non-GCC nation-als to own property in designatedareas. In this move, the Sultanate isfalling in with the trend in other Gulfcountries.

The Royal Decree (12/2006) allowingnon-GCC nationals to own propertyin integrated tourist complexes wasa landmark move. It came just twoyears after restrictions on GCC own-ership to three plots of land of re-stricted size, in place since 2000,were relaxed. These moves drewGCC investors such as Al Argan In-ternational Real Estate from Kuwait,which partnered with the OmaniTowell group. Although the decreefor non-GCC ownership has yet tobe translated into law, local real es-tate projects have already startedcatering to the demand.

The Wave, an integrated real estate

tourism development 7 km north ofMuscat, began selling to foreignersin January. Wael al Lawati, DeputyCEO of The Wave, said the Ministryof National Economy had given ap-proval to sell residential units to for-eigners while the new law was beingfinalised. The first batch on sale wasvastly oversubscribed, with 221properties being acquired by inves-tors of 20 different nationalities. Thenext release of property is due inNovember.

Other projects catering to foreigndemand include the Muscat Golfand Country Club, said to have sold85 per cent of properties already, aswell as the Yiti Project, the Blue Cityand residences in Bar al Jissah. TheSultanate is meanwhile trying tokeep apace with growing demand ininfrastructural development, imple-menting widespread electrificationas well as an extensive road-build-ing scheme. Tourism is an integralpart of His Majesty the Sultan’seconomic diversification strategy,with the creation of the Ministry ofTourism just three years ago.

One side effect of the booming de-mand from the rapidly rising popula-tion, both local and expatriate, hasbeen to push prices up. Figuresfrom the Ministry of NationalEconomy show that expatriates nowrepresent 24 per cent of Oman’spopulation. To date this year thenumber of expatriate workers hasrisen by 8.9 per cent. The construc-tion sector is also by far the largest

employer of expatriates in the pri-vate sector. At the end of June thisyear, the total amounted to some132,000, almost 30 per cent of totalexpatriates in the private sector.

Local population growth — 2.2 percent in 2005 — is also having astrong impact on demand. It is esti-mated that just under a third ofOmanis are aged between 15 and 29,most of whom will be seekinghouses or apartments in the next de-cade or so.

The concerted effort to attract tour-ists, alongside the growing popula-tion, has prompted serious in-creases in both sales and rentalprices in the residential sector. Landprices can reach as high as RO 500($1,300) per sq metre in the Azaibaarea, on the outskirts of Muscat,while average rental prices were es-timated to have increased by 25 percent last year.

Sustainability of the pricing trenddepends on several factors. Whilean excess of demand over supplywill ensure a queue of buyers for awhile, it cannot be a permanent fea-ture of the market. At one point, thefrustration of unmet demand linkedwith prices similar to those in moredeveloped parts of the region couldrebound. For this reason alone —quite apart from any other consider-ation — the government’s measuredapproach to expanding tourism andOman as a haven for holiday homesis clearly the way ahead.

Oman: one brick at a timeOman: one brick at a timeOman: one brick at a timeOman: one brick at a timeOman: one brick at a timeSource: Oman Observer - 18 October 2006


Carrier Middle East Limited, awholly owned subsidiary of

Carrier Corp., a unit of United Tech-nologies Corp, has launched G3, thethird generation series of window airconditioners in Oman.

The G3 air-conditioners areequipped with a high Energy Effi-ciency Ratio (EER) of 8.2, which willresult in a 10 per cent savings in en-ergy when compared with other airconditioners in the market.

The new air-conditioner comes withlow noise, four-in-one-filter technol-ogy, four-way air distribution andwater drip-free system. Powered bythe high ambient rotary compressor,the air conditioner is capable of de-livering comfortable cooling evenwhen outside temperatures soar to55 degrees Celsius.

The four-in-one-filter technology isa powerful anti-pollutant that en-sures high indoor air quality (IAQ).According to research in Japan, the

filter technology defuses negativeions, which magnetically attractspollutants such as dust, smog, hu-man and animal dander, smoke andallergens. The newly formed par-ticles become too heavy to remain inthe air and the advanced air-cleans-ing system filters them with remark-able ease.

“The filter system eliminates bacte-ria, dust mites, and potentially harm-ful pollutants and chemicals. It re-moves bad odours, smoke and do-mestic smells”, said Bassam AlAwar, general manager, CarrierMiddle East Limited.

One of the salient features of the G3is its water drip-free system thatsprays the condensate water on tothe condenser coil, improving theperformance of the unit. This sys-tem can prevent water from drippingin ambient conditions of up to 70per cent relative humidity.

The air conditioner’s special design

and mounting for the rotating com-ponents delivers a super quiet op-eration. “The low noise air flow sys-tem, which consists of a large diam-eter cross flow fan, can greatly re-duce the indoor unit’s noise level bylowering the fan speed. PreviouslyCarrier WRAC’s have earned theirreputation based on superior cool-ing power. But with the new featuresof low noise airflow and air filtrationsystems Carrier is now offering thebest value among all window air-conditioners in the market, ” addedAl Awar.

The new G3 systems are easy tomaintain with the slide-out chassisand the easy access filter. The frontpanel is effortlessly removable forperiodic cleaning. It com three mod-els and is available in 1.0 tonne, 1.5tonne and 2.0 tonne capacities tosuit individual needs at very com-petitive prices. Carrier air-condition-ers are available at Bahwan TradingCompany outlets and with air condi-tioning retailers in Oman.

Carrier launches super quiet air-conditionerCarrier launches super quiet air-conditionerCarrier launches super quiet air-conditionerCarrier launches super quiet air-conditionerCarrier launches super quiet air-conditionerSource: Times of Oman - 03 October 2006

He said the mall would cater to theshopping requirements of differentsegments — Omani nationals andexpatriates from Europe and Indiansub-continent. “We are bringing thebest brands in the world,” he noted.As several large industrial projectsare being built in Sohar simulta-neously, there has been a phenom-enal growth in people taking up em-ployment there.

“We expect a growth in Europeanexpatriate population in Sohar,” hesaid, adding: “They prefer to usethe brands they were using in theirhomeland. The mall is slated to openby the first quarter of 2007,” henoted.

Located close to the highway be-tween Globe Roundabout and SalamRoundabout, it is the only mall in an

area of 200 kilometres.

Now, people in Sohar go to far offplaces like Muscat or Dubai for theirmajor shopping. Besides the majorhypermarket, Safeer mall spread on aland area of 40,000 square metreswill house a wide range of tenantoutlets like fast food joints in an ex-clusive food court, ready-made gar-ment shops selling premium brands,footwear, furniture, perfumes andjewelleries.

The ground floor will have thehypermarket and amusement area,while the first floor will house a foodcourt and tenant outlets for a widevariety of renowned brands. Thefood court will have eight outlets,which include MacDonald, PizzaHut, Shemiana (an Indian specialityrestaurant) and Majic Wok (a Chi-

nese speciality restaurant). Safeermall will also be home to severalother tenant outlets like Damas,Mikaji & Niyomi, Rasasi, Ajmal, GulfOasis, Jovial Watches, MuscatPharmacy, Lakoos and Cell Com.Bahrain-based Jawad group isbringing Costa Coffee, PumpkinPatch, Hush Puppies andAccessorizes.

On the present status of the mall, hesaid the structure has already comeup and flooring and interior worksare to be done. Safeer Group has sixoutlets in the Sultanate, which in-clude a hypermarket at Azaiba. Thepremier retail chain, which is ownedby a UAE-based business house,has around 50 to 60 outlets in theGulf region. The company’s opera-tions in Oman are headed by an ex-ecutive director — Mohan Sippy.

MARKET REPORT 65

Oasis Living GrOasis Living GrOasis Living GrOasis Living GrOasis Living Group toup toup toup toup to cash ino cash ino cash ino cash ino cash inon home decoron home decoron home decoron home decoron home decor, furniture mar, furniture mar, furniture mar, furniture mar, furniture markkkkkeeeeettttt

Source: Times of Oman - 13 September 2006

The Oasis Living group, thehome décor solution provider in

Oman, hopes to cash in on the rap-idly growing home décor and furni-ture market in Oman.

The home decorations and furnituresegment is an important ancillary tothe real estate sector which haspicked up pace in line with the eco-nomic growth witnessed by the Sul-tanate.

Kim Jepsen, general manager of Oa-sis Lifestyle, dwelling on thegroup’s future plans, its effects onthe industry and lifestyle, said thatOasis has planned to not only gleanthe retail market but is also lookingto tap the institutional segment.

“From the amount of interest wesee, there seems to be a lot ofprojects coming up like The Waveand Blue City. I have to say that

from our point of view, we hope togain as much as 15 per cent of ourturnover from such projects,” saysKim.

“As Oman’s leading furniture store,Oasis Lifestyle persists as thecountry’s principal ‘trend centre’,reflecting modern-day tendencieswhich come to life in a number offashionable brands including Zone,IDdesign, and Bodum,” Kim said.

The construction of a major portand dry dock complex at Duqm

on the Wusta coast is set to get un-der way in earnest, with the govern-ment launching the competitive bid-ding process for a contract coveringthe first phase development of theambitious project.

In the first phase, a contractor willbe appointed to undertake the mari-time works package entailing theconstruction of breakwaters andquay walls, as well carrying outdredging and reclamation works.Landside and infrastructure facilitieswill be established under a separatecontract to be awarded in the sec-ond phase, while a ship repair facil-ity — the centrepiece of the DuqmPort complex — will be constructedin the third phase.

Duqm Port will be established at RasDuqm, some 7km from Duqm town.The site includes the imposingheadland of Ras Duqm, a smallerheadland some 2km northwest ofRas Duqm and the seabed withinthe bay in between. Duqm is beingconceived as a main maritime gate-way that will serve an ambitious in-

dustrial and commercial hub envi-sioned in the Duqm area and its hin-terland. When completed, the facil-ity will stimulate development in thisremote part of the Sultanate, as wellas bring employment opportunitiesto this area. Eleven firms and theirjoint venture partners have so farcollected tender documents for thefirst phase maritime works contract.

Royal Haskoning, in associationwith Khatib and Alawi, are consult-ants for the project, which is beingoverseen by the Ministry of Trans-port and Communications. In thefray are well-known contractingfirms such as Larsen & Toubro(Oman) with Dredging International;Hani Archirodon; Galfar Engineeringand Contracting; Hyundai; VanOord; Consolidated Contracting Coand Sezai Turkes — Feyzi Akkaya(STFA); Boskalis WestminsterMiddle East; Great Lakes Dredgeand Dock Company with CarillionAlawi; and Six Construct Companywith Hindustan Construction.

The selected contractor will be re-quired to construct two breakwatersof a total length of around 5

kilometres. A pair of quays will alsobe constructed — a 700-metre-longquay for container, general cargoand dry bulk vessels, and a 330-metre quay for government vessels.Berths for tug and pilot boats andother craft will be built as well. Inaddition, dredging will be carriedout to provide for the entrancechannel, harbour basin, construc-tion pockets and turning circle, withdeeper dredged pockets created atthe berths and floating docks.

Also as part of the maritime workspackage, reclamation will be under-taken behind the breakwaters, quaywalls and inshore areas. Allowancemust also be made within the com-mercial quay for the potential futureinstallation of electrically operatedrail-mounted quayside cranes. Atthe heart of the port complex is aplan for a ship repair facility whichwill rank among the biggest in theGulf region. In June last year, thegovernment signed an agreementwith South Korea’s Daewoo Ship-building and Marine EngineeringCompany, which is the second larg-est shipbuilder in the world, for thedesign of the shipyard.

DeDeDeDeDevvvvvelopment of Duqm Pelopment of Duqm Pelopment of Duqm Pelopment of Duqm Pelopment of Duqm Pororororortttttand drand drand drand drand drydocydocydocydocydock sek sek sek sek set tt tt tt tt to kico kico kico kico kick ofk ofk ofk ofk offffff



Oman has received singularpraise from a top Japanese

business head for hosting a condu-cive climate for businesses to thrivein.

Stressing that Oman in general of-fered a fantastic climate for a prod-uct boom, Junichi Sato, managingdirector of Daikin Industries Ltd, Ja-pan Global Operations’ division,also revealed that Oman was a fastgrowing market for Daikinairconditioners in a brief meetingwith the press yesterday.

The reason was the thriving busi-ness climate in Oman and the ex-traordinary growth the country hasmade over the years, he noted.

Muscat Electronics LLC., its dis-tributor in Oman, has commissionedthe largest number of Daikin’s pres-tigious VRV A/C system (variablerefrigerant volume) in the MiddleEast. Sato, was accompanied byToshitaka Tsubouchi, general man-ager, Daikin Europe NV and threesenior managers from Daikin.

Varghese Samuel, deputy generalmanager, AC division, Muscat Elec-tronics, received an award for high

performance of sales of the VRVsystems in the Middle East duringthe fiscal year 2005 to 2006.

Sato noted that he was particularlyhappy about Muscat Electronics’performance in this regard andopenly commended them for their“exceptionally good customer care”.He noted that they were proud oftheir design, execution and service,which “enabled them to excel intheir sales performances”.

Daikin Industries Ltd., which hasbeen established in Japan, morethan 80 years ago, are the pioneersin the AC industry.

Daikin is not only numero uno in theAC industry in Japan but also sec-ond overall in the world, Sato noted.“Daikin is the inventor of the VRVsystems, which is the most energy-efficient AC system for the middle tolarge scale buildings and houses.”

Sato noted that with the acquisitionof the OYL/Maquay, Daikin isslowly emerging as the top globalAC manufacturer in both name andreality.

Daikin is mainly into the AC and re-

frigerant chemicals and manufactur-ers of all types of AC and compres-sor factories spread all over theglobe maintaining highest standardsof quality and reliability. “We haveopened a new Daikin representativeoffice in Dubai to give strong sup-port for the Middle East countries,”Tsubouchi noted. Saidja Geirnaertand Akihiro Okumura, have been ap-pointed as the general manager andsales manager, respectively, at theDubai Daikin office.

“We are extremely proud to be asso-ciated with Daikin, the world leadersin air conditioning. We have com-pleted 19 prestigious VRV projectsamounting to approximately 4000tonnes during the last four years,”noted Varghese Samuel. Heemphasised that all Daikin VRV sys-tems, commissioned by MuscatElectronics, crossed several sum-mers without any problems.

“Efficient customer care (ECC),voice of customers (VOC) and zeropart waiting ration (PWR) is ourstrength. We are at the customer’spremises within 24 hours of a call.We also provide 24 hours’ service toall customers on demand,” Samuelsaid.

Oman fastest growing marketOman fastest growing marketOman fastest growing marketOman fastest growing marketOman fastest growing marketfffffor Daikin airor Daikin airor Daikin airor Daikin airor Daikin airconditionerconditionerconditionerconditionerconditioners: Sats: Sats: Sats: Sats: Satooooo


“Oasis is all about creating experi-ences. They come here to experi-ence the quality, the service and theproduct that they find. We wantpeople to be inspired and go out ofthe door with hopefully somethingthat they can use in their home,”Kim said.

According to Kim, Oasis accommo-dates aesthetic solutions, makingroom for individual choice of designand design with the basic philoso-phy of giving the customer an excit-ing shopping experience filled with

colorful inspiration at affordableprices.

The Oasis store located in MarkazAl Bahja has a product range whichincludes everything from furnitureand carpets to lighting and accesso-ries with the primary focus on living,dining, sleeping, outdoor, home, of-fice, accessories, carpets, gallery,kitchen and lighting. As part of itsexpansion initiatives, Oasis teamedup with LG Electronics, global leaderin consumer electronics, in creatinga first-of-its-kind home solutions

universe in Oman.

The result is the new store, ‘OasisLiving’, which presents an innova-tive combination of trendy furnituredesign and electronics, creating anew venue for stylish furnishing so-lutions. Another exciting feature atOasis is a design studio known asFlexar, where you can design yourhome decor and the furniture thatyou want fitted in. You can orderdifferent parts and have them as-sembled to suit your needs andtastes.

MARKET REPORT 67

Muscat City Centre’s (MCC)grand, RO23 million, expan-

sion plan will include Oman’s first-ever multistoried car park.

The three-tier, state-of-the-art park-ing structure, set to accommodateanywhere between 2,100 to 2,250parking stalls in a span of 87,000square metres (on three levels), willbe one of the main highlights of theexpansion for this shopping centre,which also offers Oman’s largestrange of fashion and lifestyle retail.Work is currently being done onthis multi-level parking deck, andthe first stage (it will be done in twostages) is expected to be completedby the end of this year, top MCC of-ficials said.

The MCC, a part of the Majid AlFuttaim (MAF) Group, already of-fers one of the biggest parkingspaces in the mall scene here, andfrom the current 1,250 parkingspaces to 2,250, it may not be an ex-

act double, but most definitely ahuge leap, Wayne Scherger, assetmanager, MAF Shopping Malls,Oman, said, in recent comments.

According to him, the mall will beextended out into the parking areawith double-storey East and Westwings. The flyover from the SultanQaboos Highway will give custom-ers direct access to the car park.

Shaded parking area, more space forcustomers, designs of internationalstandard, will all serve in making itan exciting parking structure,Scherger enthused.

“I mean, it will not be another con-crete structure, but a well planned,spacious and well lit architecture. Itwill not offer the usual dungeon-likearea, but more of a high-tech struc-ture.”

Thanks to an electronic traffic-man-agement system, customers will be

directed to available parking spaceson the first, second and groundfloors.

“In addition to that, there are 10 in-ternal ramps, which will give cus-tomers convenient access to eachcar park level,” Scherger said.

Also, access to all levels of parkingis gained by travolators, escalatorsand elevators located in the ex-panded mall and car park, he said.

He was of the opinion that thisthree-tier car park would bring downusual customer complaints againstparking. “Most of the times, the big-gest complaints from customers,with regards to parking, is on get-ting out of the parking lot. But, here,the car park is designed in such amanner, it will be quite easier for thecustomer to leave the parking area,”he explained, adding that propercare has been taken to ensure easyflow for customers from the parking

MCC tMCC tMCC tMCC tMCC to build fo build fo build fo build fo build fiririririrst-est-est-est-est-evvvvver multi-ster multi-ster multi-ster multi-ster multi-storied car paroried car paroried car paroried car paroried car parkkkkkSource: Times of Oman - 16 August 2006

Physical activity on the Blue City(Al Madina Al Zarqa) mega

mixed-use urban project will begin inNovember this year.

This was disclosed by AhmedAbubaker Janahi, chairman andchief executive officer of AAJ Hold-ings, yesterday on the sidelines ofthe first Business Roundtable withgovernment of Oman, organised byEconomist Conferences.

The $20 billion Blue City project,which hopes to complement Muscatcity, in many respects, is a master-planned, mixed-use urban develop-

ment project of a very large scale.

It has the potential of growing tobecome one of the largest economicand real estate developmentprojects of the whole Arabian Gulfregion.

Upon completion, Blue City is ex-pected to be home to more than200,000 permanent residents and be-come a tourism and business desti-nation of national, regional and in-ternational relevance.

Ahmed Abubaker Janahi told theTimes of Oman that Blue City would

become a hub of services which in-cludes education, entertainment,tourism, sports, technology andother economic activities generatingthousands of employment opportu-nities both direct and indirect.

The Blue City project is a visionary,ambitious joint effort of local, re-gional and international private sec-tor investors and developers andthe government of the Sultanate ofOman. In a balanced win-win part-nership it is intended to maximiseand align sustained returns on in-vestments with the economic andsocial benefits for the country.

Physical activity of Blue City projectPhysical activity of Blue City projectPhysical activity of Blue City projectPhysical activity of Blue City projectPhysical activity of Blue City projectttttto begin in Noo begin in Noo begin in Noo begin in Noo begin in Novvvvvemberemberemberemberember



Plans are afoot to expand thecountry’s two main airports —

Seeb International Airport andSalalah — as modern airports in theregion, Ahmed bin AbdulnabiMacki, minister of national economyand deputy chairman of the Finan-cial Affairs and Energy ResourcesCouncil has told the Times of Oman.

This is part of the government’s on-going seventh five-year plan, headded.

Developing Salalah airport and thegovernment’s plan to develop a freetrade zone in Salalah will serve the

growing tourism activities in the re-gion, the minister stressed. By theend of December 2005, the SixthFive-Year Plan had been fully imple-mented, and from the beginning ofthis year, the Seventh Five-Year De-velopment Plan (2006-2010) hasbeen approved and implemented. Asa continuation to the various diver-sification programmes, new projectscame into being, whether on gas-based industries, tourism or otherproduction and services sectors.

The government announced earlythis year that it will have three newairports, one each at Sohar, Duqum

and Ras Al Hadd.

Duqum airport is part of a larger de-velopment plan to establish a mod-ern port and other facilities, while anairport in Ras Al Hadd will help tour-ists. Sohar airport will help Sohar,which is the Gulf’s fastest develop-ing industrial zone.

Other mega industries in Sohar in-clude: aluminium, power, refinery,Oman Formaldehyde Chemicals,Oman Petrochemical Industries,Oman Polypropylene, Shadeed Ironand Steal, International Urea andChemical Industry. Some of these

Development in overdriveDevelopment in overdriveDevelopment in overdriveDevelopment in overdriveDevelopment in overdriveSource: Times of Oman - 02 August 2006

Oasis Lifestyle LLC, a leadingfurniture store in Oman, teams

up with LG Electronics, in creatinghome solutions in Oman. The newstore, Oasis Living, was opened onAugust 3, in the presence of guestsand local media representatives atMarkaz Al Bahja. The internationalfurniture store, known for itsminimalist, Scandinavian style, hasjoined forces with LG Electronics topresent an innovative combinationof trendy furniture design and elec-tronics, creating a new venue for ex-citing shopping experiences andstylish furnishing solutions.

According to Kim Jepsen, GeneralManager at Oasis Lifestyle, thethought behind the furniture-frontrow entertainment fusion is to allowcustomers to create their own com-plete home solutions, with apersonalised look, feel and function-ality. “Our products are carefully se-lected with functionality and flexibil-ity in mind, Jepsen explains. “Theyaccommodate aesthetic solutions,making room for individual choice ofdesign and style. With the additionof the LG product range, we havefound an exciting approach to pro-viding exactly those core elements

of our business.

It’s a new way for us to meet ourcustomers’ desire for great designand innovation. With the combina-tion of furniture and electronics,they can create their own completehome universe, just the way theywant it,” he added. According toJepsen, the opening marks a newpath for Oasis Lifestyle, yet it is stillan opportunity for the store to liveup to the company aim of providingexciting shopping experiences filledwith colourful inspiration at afford-able prices.

Oasis Lifestyle opens new shopOasis Lifestyle opens new shopOasis Lifestyle opens new shopOasis Lifestyle opens new shopOasis Lifestyle opens new shopSource: Times of Oman - 06 August 2006

lot to the shopping centre. Therewill direct access to the new mallground floor and first floor.

“It will be very easy for the custom-ers to go from the first to other lev-els, with their shopping trolleys,baby trams etc.,” Scherger noted.

Designated pedestrian walkways

would easily separate customersfrom vehicle traffic.

The total expansion will see theMCC, which will turn five this Octo-ber, extending the current centre byover 31,000 square metres, whichwill not only double its current sizeand add over 60 new outlets to themalls existing 80 shops. Most of the

new stores will be regional and in-ternational brands, not presentlyrepresented in Oman.

Earlier reports noted that the maincontractor of the development,Carillion Alawi, is committed to de-liver the project in two phases, andis on target to be fully completed bymid-2007

MARKET REPORT 69

Petroleum Development Oman(PDO) has awarded two major

contracts worth $70 million to GalfarEngineering and Contracting for ma-jor construction projects that willhelp greatly enhance transportationlinks between key interior locations.

“The first contract involves buildingof airports with paved runways atFahud, Qarn Alam and Marmul, andthe other involves the laying of anew blacktop road linking Fahudwith Lekhwair,” PDO said here yes-terday.

The airport contract, valued atnearly $20 million, calls for a majorupgrade to PDO’s existing unpavedairstrips at Qarn Alam and Marmul.In the case of Fahud, the contractedwork involves the upgrading of theexisting paved runway there.

The plan is to develop these sitesinto hard-topped airports that arecapable of handling aircraft largerthan the turbo-prop aeroplanes thatthey are currently handling. Eachupgraded airport will feature 2,440

metres of paved runway — enoughfor the take-off and landing of jetaircraft such as the Boeing 737.Each of the upgraded airports willalso have a taxiway and apronasphalted to the standards set outby the International Civil AviationOrganisation.

Furthermore, small terminal build-ings will be constructed with facili-ties for check-in, baggage handling,and control-room operations; sepa-rate buildings will additionallyhouse the fire and rescue unit aswell as rest areas for aircrews. Allthree upgraded airports will be op-erational by the end of 2007. “Thiscontract will create a network ofmodern paved airports within PDO’sconcession area, thus greatly facili-tating the safe, convenient andspeedy movement of company per-sonnel between Muscat and our in-terior sites,” commented Dr AbdullaAl Lamki, deputy managing directorof PDO.

“With the growth of our operations,we have been reviewing our internal

air-transport services with a view tomaking commuting a comfortable ex-perience for our staff and contractorpersonnel. The new airports will beserved by jet aircraft with a capacityof a hundred or so passengers,which is far greater than the capaci-ties now available. There are clearefficiencies and economies of scaleto be gained if we rely on popularcommercial jet aircraft and fewer butbigger airports for our air-transportneeds.”

The road-building contract, valuedat around $50 million, calls for a new125-kilometre-long blacktop to belaid from Fahud to Lekhwair.Lekhwair is presently served by agraded road that can no longer besuitably maintained.

The deteriorating road condition,compounded by an increase inthird-party traffic, has necessitateda major overhaul of this road. Theroad project is due for completionby 2008.

“With this investment, Lekhwair will

Galfar bags two major contracts from PDOGalfar bags two major contracts from PDOGalfar bags two major contracts from PDOGalfar bags two major contracts from PDOGalfar bags two major contracts from PDOSource: Times of Oman - 24 July 2006

projects are at an advanced stage ofcommissioning, while others are indifferent stages of implementation,the minister said.

Macki noted that the governmenthad signed an agreement to pur-chase five ferry boats for coastaltransport so as to serve the popula-tion of the remote coastal regions innorthern Oman, and supply themwith services and activating localtrade, tourism and strengthening so-cial relations.

He also noted that the 5” and 6”LNG vessels (Ibri and Ibra) hadbeen launched and would join the

fleet of Oman Shipping Company(OSC) soon.

Oman has also signed an agreementwith Mitsui OSK Lines to purchasea crude oil carrier, a liquefied petro-leum gas carrier and two producttankers, which is in line with Oman’sefforts to give new impetus to thegovernment’s economic diversifica-tion drive and to add value to the oiland gas sector.

“By 2009 the OSC fleet will havegrown to 12 vessels, hence develop-ing oil, gas and marine transportprojects, which will reflect theOman’s successful investment poli-

cies,” the minister revealed.

Macki said that the construction ofSohar Refinery was in its final stage.“It is worth mentioning that theSohar Refinery will produce propy-lene which will be a major input tobe used by the Oman PolypropyleneCompany, as well as other petro-chemicals and aromatics companies.“Also, the third train project of liq-uefied natural gas has already beenopened in Qalhat, with a productioncapacity reaching 3.3 million tonnesper year. Its construction had taken30 months only, and the first ship-ment had already been exported lastDecember.”


A key player with dominant market presence spanning over 20

years in the Sultanate says the con-struction boom in Oman, the regionand beyond offers excellent oppor-tunities for companies of repute.

“The construction sector, spurredby new infrastructure projects, isgaining further momentum in Omanand the wider Gulf region. Againstthis backdrop, International Equip-ment and Contracting Company(IECC), a division of Bahwan Build-ing Materials, is not only looking forstrong business opportunities inOman, but also the GCC region andbeyond in India and African coun-tries,” G V Rao, General Manager ofBahwan Building Materials, said.

IECC meets the varied hi-tech equip-ment requirements of the construc-tion industry, representing a numberof leading brands that have a strongpresence among medium and lightconstruction equipment in Oman.The extensive product range in-cludes steel rebar machines, con-crete mixers and dumpers, rockbreakers, plate and roller compac-tors, vibrators, light towers,gensets, trowels, screeds, surveyequipment (auto levels, theodolites,total solutions and GPS), laboratorytest equipment, power tools, woodworking machinery, industrial equip-ment, forklift trucks, personnel lifts,scaffolding, chain pulley blockhoists, EOT cranes, warehouse

equipment (pallet trolleys, stackers,reach trucks, VNA), side loaders,mobile cranes and storage systems.

“The construction sector is experi-encing a major boom in the Sultan-ate as new mega industries andmanufacturing companies are pro-gressing in different parts ofOman.The infrastructure develop-ment is a very good and positivesign for the construction sector inOman. Investment, both foreign anddomestic, is flowing into infrastruc-ture development in Oman, espe-cially in Sohar and Salalah. This iswell reflected in a lot of queries wereceive from major companies for awide range of construction equip-ment. We definitely perceive a hugescope for the construction industryin the next 10 years,” Rao said.

IECC’s growth in 2005 was wellabove 30 per cent. “Definitely, thiswill begin to taper in the comingyears, but we hope to maintainstrong growth figures in the comingyears. Year-on-year growth projec-tion for IECC will be in the region of10 to 15 per cent in the comingyears. We are looking beyond Omanto expand our horizon of activities,especially focusing on opportuni-ties available in the GCC region. TheIndian market is also promising as itis a huge market offering adequateroom for several players.

The Indian market can easily absorb

new players as the volume is verylarge. We are in a position to pro-vide the entire range of medium con-struction equipment and have beenin some way or the other linked toall major infrastructure projects inOman,” Rao noted. IECC’s primarystrength lies in representing leadingbrands, offering quality service andreliable parts back-up. The companyhas a 250-strong workforce led byprofessionals with multi-skills. IECChas a wide reach in Oman with eightbranches in Muscat, Seeb, Ibra,Buraimi, Sohar, Barka, Nizwa, Salalahand Sur.

The company also has strong busi-ness in Syria, Yemen, the UAE,Saudi Arabia and Qatar. Summing upIECC’s future growth vision, Raosaid “the whole world is yours andsky is the limit. We are aiming forconsolidation in Oman and lookingbeyond for establishing ourselvesas a leading company in the regionand beyond.” IECC representsSimpedil brand from Italy, which is amarket leader in steel bar bendingand cutting equipment. Wacker fromGermany is another market leader invibration and compaction equip-ment segment. Wacker is also aleading player in light towers,gensets, trowels and screeds.

Silla concrete mixers and dumpersfrom Italy have a strong presence inOman. Topcon from Japan belong-ing to Toshiba and Trimble from

IECC wIECC wIECC wIECC wIECC well-positioned tell-positioned tell-positioned tell-positioned tell-positioned to tap construction boomo tap construction boomo tap construction boomo tap construction boomo tap construction boomin Oman and Gulf regionin Oman and Gulf regionin Oman and Gulf regionin Oman and Gulf regionin Oman and Gulf region


finally be linked to PDO’s paved-road network. This project stemsprimarily from PDO’s desire to en-sure safe motoring conditions for allpeople driving to Lekhwair — notonly PDO staff and contractors butalso local residents and third-partyusers.

PDO is keen to maintain uninter-rupted access to Lekhwair, where amajor increase in activities is envis-aged over the coming years.”

Salim Hamed Al Fannah Al Araimi,chairman of Galfar, said: “Thesecontracts are just the latest develop-

ments in our long association withPDO in building the nation’s infra-structure.

“We look forward to delivering thenew airports and asphalted roadfrom which PDO — and Oman ingeneral — will benefit.”

MARKET REPORT 71

Mirbat tMirbat tMirbat tMirbat tMirbat tourism resorourism resorourism resorourism resorourism resort tt tt tt tt to open in early 200o open in early 200o open in early 200o open in early 200o open in early 20077777Source: Oman Observer - 25 July 2006

A new deluxe resort is scheduledto open early next year at

Mirbat on Dhofar’s southeasterncoast under the auspices of thewell-known Golden Tulip brand. TheGolden Tulip Resort and Spa —Mirbat will boast around 170 rooms,70 chalets, a spa, banquet roomsand meeting halls, and offer a widespread of water-based leisure andrecreation activities. The waterfrontresort is set on a picturesque stretchat Hino village, overlookingMirbat’s splendid bay. The plannedlaunch of the property under theGolden Tulip label underscores aphase of rapid growth for the Eu-rope-based hotel managementgroup in the Sultanate. Under a con-tract signed with Dhofar TourismCompany, which owns the multi-mil-lion riyal resort at Mirbat, GoldenTulip will operate the property.

Speaking to the Observer, GoldenTulip’s General Manager and Direc-tor of Operations, Paul Z Diab, saidthe company has made significantinroads into the Omani hospitalitysector. Golden Tulip is also lookingto grow the portfolio of propertiesunder its management, he added.“As an operating company, we arelooking at a number of possible lo-cations around Oman to establish aGolden Tulip property. One area weare seriously looking at is Sohar,which urgently needs new hotelsand facilities to match developmentson the industrial and economicfronts,” Diab said.

“We are also talking to investors inThe Blue City and The Wave Mus-cat projects. We are in negotiation

with certain people about the pros-pect of setting up Golden Tulipproperties within these projects,” hestated. A new addition to its portfo-lio is the Golden Tulip Resort Dibain Musandam Governorate, which isdue to open in October. Built by theMinistry of Tourism, the new hotelboasts around 54 rooms and all theamenities of a beachfront resort. It iscurrently the only deluxe hotel inDiba wilayat, and will complementproperties in Khasab in the north ofthe Governorate.

The Golden Tulip Resort Khasab isalready a major draw with domesticand UAE based tourists, says Diab.“Khasab is an attractive getaway fortravellers from around Oman andfrom the UAE, which is just a shortdrive away. People come here for thebeaches, boat cruises, sight-seeing,diving, snorkeling and other pur-suits. Dolphin watching is a popularpastime as well. In fact, many com-panies make use of the Khasab re-sort to conduct their annual meet-ings for their executives, while tak-ing the opportunity to give staff andtheir families the chance of a relax-ing holiday in Khasab.”

With the scheduled opening of theDiba resort later this year, both ex-tremes of the Musandam peninsulawill now have fine hotels, says Diab.“The Khasab and Diba resorts willcover all of the Governorate in termsof catering to tourists and travellers.A blacktop links Khasab with Diba,allowing tourists to drive south toexplore some nice beaches or tryhiking, off-road driving, paraglidingor other adventures of this sort.” Oflate, Golden Tulip has been looking

to forge a strong partnership withthe Ministry of Tourism by offeringits expertise in operating coffeeshops established by the Ministryin key tourist areas. Recently, thecompany signed a deal with theMinistry to operate eateries atNizwa Fort and Jabrin Castle.

Envisaged at Nizwa Fort is an up-scale cafeteria serving snacks, andhot and cold beverages. The facility,which can seat up to 80 guests, willopen by the end of this month.Slated for launch shortly thereafteris a full service restaurant plannedat Jabrin Castle. “We are happy tosupport the Ministry in operatingthese facilities, which are designedto enhance the appeal of historicallandmarks to tourists. These coffeeshops are part of the Ministry’s ef-forts to provide a range of amenitiesat key attractions for the conve-nience of tourists,” Diab com-mented.

Significantly, Golden Tulip’s re-gional arm Flamingo Hotel Manage-ment will also assume operation oftwo other government-owned prop-erties — the Youth Hostels at AlAshkarah in the wilayat of JaalanBani Bu Ali, and at Sahanout in thewilayat of Salalah. Both propertieswere launched in 2004 as part of aneffort to provide youngsters andfamilies with accommodation at rea-sonable prices in a drive to encour-age domestic tourism. While theSalalah facility was reopened at thestart of the khareef festival after anoverhaul, the Al Ashkarah propertywill be relaunched within a fortnight,said Diab.

Sweden are also market leaders insurvey equipment, including digitaland auto level theodolites and totalsolutions. IR-Montabert rock break-

ers from France belonging toIngersoll Rand in the US features apatented design for automatic blowcontrol technology. The life cycle

for this equipment is much higherthan its competitors. BT warehouseequipment from Sweden is anotherleading brand represented by IECC.


Sheikh Abdullah bin Salim binA’mer Al Rowas, minister of re-

gional municipalities, environmentand water resources, has signed 11agreements worth around RO11.5million for developmental works invarious parts of the Sultanate.

The signing of the agreements is inline with the 36th Renaissance Dayanniversary celebrations. The agree-ments signed with different con-tracting companies include six forupgradation and building of new in-terior roads, two for souqs, and oneeach for construction of seweragenetwork and sewage treatment plant(STP) in Sur; a pedestrian sus-pended bridge; and laying of under-ground cables.

The road projects have been com-missioned in different wilayats in

the regions of Batinah, Dakhiliyah,Sharqiyah and Dahirah and willmostly be single carriageways.

A 100-m-long suspended pedestrianbridge will be built on the Khoor AlBatah valley near Sur to connectnearby villages and it will be com-pleted in 18 months. The souqs willcome up in Masirah Island andDuqm.

According to Abdul Hakeem AlZadjali, director-general of technicalaffairs at the Ministry of RegionalMunicipalities, Environment andWater Resources, all these projectsare aimed at improving the well-be-ing of the people of the Sultanate.

For example, the development of theentrance of Mahout will ease thetraffic congestion and enable

smooth movement of vehicles.

Similarly, the construction of thesewage treatment plant and sewagenetwork in Sur will improve the qual-ity of life and civic amenities in thattown.

All these projects are part of thecommunity service initiatives andadd to the building of a modernOman, which is the main aim of HisMajesty Sultan Qaboos bin Said,the officials of the ministry said.These projects will in turn will im-prove the social structure, and in-crease the economic activity in theregions. The upgradation and build-ing of new asphalted roads in thedifferent wilayats are expected tocontribute to the growth of tourismbecause many of these roads arepart of the tourism locations.

DeDeDeDeDevvvvvelopment drivelopment drivelopment drivelopment drivelopment drive in Oman hits te in Oman hits te in Oman hits te in Oman hits te in Oman hits top gearop gearop gearop gearop gearSource: Times of Oman - 25 July 2006

Six Omani construction firms arecompeting for a contract to

build a major fishing harbour inSeeb wilayat in Muscat Governor-ate. In the race for the multi-million-riyal contract are Oman ShapoorjiConstruction Co, Al Adrak Trading& Contracting, Galfar Engineering &Contracting, Modern Construction,Consolidated Contractors Company(CCC), and Larsen & Toubro(Oman). The six firms submitted firmoffers in bids that opened earlierthis week.

The Ministry of Agriculture andFisheries is financing the develop-ment of the harbour, which will comeas a major boost to the wilayat’sthriving fishing community. The fa-cility will be built to accommodate avariety of fishing vessels of differ-ent capacities. According to offi-

cials, the Seeb harbour will beequipped to provide safe berthingand mooring facilities for around 200small boats (skiffs) and 10 multi-pur-pose vessels. Envisioned in the sec-ond phase is an expansion of theharbour capacity to cater to an addi-tional 50 skiffs, 10 multipurpose ves-sels and 200 bigger boats.

This phase will primarily cater to theYouth Vessels planned by the minis-try — an ambitious public-private-partnership (PPP) designed to createa new modern fleet of fishing ves-sels, owned and operated by young,trained Omani fishermen. The con-tract calls for the construction oftwo breakwaters, the dredging ofthe harbour basin, and the construc-tion of an entrance channel. Alsoplanned as part of the harbour infra-structure are two pontoons in the

first phase, and a fixed berth for theYouth Vessels in the second phase.

In addition a land area of eight hect-ares will be reclaimed to providespace for the construction ofharbour buildings, approach roads,vehicle and boat parking and otherutility structures. The onshore infra-structure also includes fish auctionhalls, ice plants and cold storage fa-cilities.

Development of the Seeb fishharbour is part of the government’sTen-Year Fisheries Sector Develop-ment Plan (TYFSDP), a comprehen-sive fishery harbour developmentprogramme for the entire country.The objective of the TYFSDP is todevelop a modern fishery industrybacked by a network of harbours,processing and market facilities.

Six Omani firms vie forSix Omani firms vie forSix Omani firms vie forSix Omani firms vie forSix Omani firms vie forSeeb fish harbour contractSeeb fish harbour contractSeeb fish harbour contractSeeb fish harbour contractSeeb fish harbour contract


MARKET REPORT 73

Beautifying the capitalBeautifying the capitalBeautifying the capitalBeautifying the capitalBeautifying the capitalSource: Times of Oman - 23 July 2006

Muscat Municipality has mademany enviable achievements

during the past one year. Many newprojects were implemented andmany were taken up. Seeb airportflyover and bridge project is oneamong them.

The municipality began prepara-tions for execution of this project bya company specialised in construc-tion of main road projects. Theproject is designed according to theinternational standards and specifi-cations applicable in this field. Thisis regarded as one of the vitalprojects, through which the munici-pality aims to lessen traffic jams forsmooth flow.

The project works include construc-tion of three lanes along SultanQaboos Street at the site of the air-port roundabout, construction of aflyover as well as construction ofroads for the surrounding road net-works such as the airport road. Theproject also includes constructionof extra parking lots, landscapingworks and lighting works.

The Seeb International Airportroundabout is regarded as vital inMuscat Governorate, which makesthe said project of great significancefor smooth traffic flow, particularlyafter the completion of Al Mawalehand Al Khoudh flyovers andbridges.

The project will be constructed incompliance with the most advancedtraffic engineering criteria for main-taining the optimum traffic flow.

Construction work is going on inthe southern and central highways,which link Muscat Governorate withthe other governorates and regions.The Southern Highway will becomethe first alternative for SultanQaboos Street as it links the resi-dential and industrial areas.

The central road project, which willlink the South Al Ghubrah with AlKhuwair, Madinat Sultan Qaboosand Qurum 29, includes construc-tion of a number of bridges andflyovers.

Work is also going on in Al Amerat/Bausher road, which is expected tobe asphalted at the beginning of2007. Currently, work is going on inPhase II of the project, which com-prises 6km. Refilling and levellingworks have already completed bythe municipality in the 3-km Phase Iof the project.

The project will shorten the distancebetween Al Amerat and Bausher andwould ease traffic jams in additionto activation of tourism as it crossesmountainous areas and would pro-vide a marvellous aerial view ofMuscat city.

The construction works in AlAmerat/Quriyat dual road will beginin August through a tender to beawarded to one of the companiesspecialised in construction of suchprojects. The project constructionworks extend for 70km, which startsfrom Al Amerat Police Stationroundabout to Quriyat-Sur road.

Work is also going on in the con-struction of Wadi Al Lawami dualroad in the wilayat of Seeb, expectedto be completed next November.The project aims at improvement ofthe eastern entrance of Seeb Souqarea, which the project links to AlMawaleh flyover and bridge.

The dual road begins from AlKhoudh flyover and bridge to theWadi Al Lawami Souq and includesconstruction of a roundabout. Thecoastal road will be linked to AlKhoudh flyover and bridge throughconstruction of this dual road.

The municipality has completed

preparation of designs and draw-ings of the coastal road (North AlGhubrah/Azaiba). The project willbe completed within the celebra-tions of the 36th National Day. Theroad extends from the area adjacentto Chedi Hotel in North Al Ghubrato Al Mansouriyah and crossesKhur Al Azaiba to end at Al Naejeelgarden in Azaiba, where it joins thecoastal road. The projects includecar parkings along the roadside andother separate parking for the mo-torists as well as road lightingworks.

Work is going on in Phase II ofMuttrah coastal road after comple-tion of Phase I of the project, lastyear. The project includes landscap-ing and beautification works at thecoastal road in the wilayat ofMuttrah.

Phase II of the project includes re-moval of the upper part wharf to bereplaced with granite, which resistsweather conditions and seawater im-pacts. The project also includes ex-pansion of the car parks at the wa-terfalls and Al Inshirah restaurantareas.

The project comes within themunicipality’s keenness to keepabreast of the latest developmentsin the field of tourism. For this, theproject comprises construction oftourism facilities in addition tomodernisation of other facilities andimprovement of infrastructure andlandscaping projects.

The project works will be completedwithin the celebrations of the 36thNational Day. Work is also going onfor the Al Sahwah Park project in thewilayat of Seeb, which includes en-tertainment facilities and car parks atan area of over 250,000 squaremetres.

The project includes integrated ad-


The Health Ministry will be con-structing five health centres in

the north Batinah region at a totalcost of RO2.5 million. The healthcentres will provide healthcare ser-vices for residential villages and ar-eas in the wilayats of Sohar, AlSuwaiq, Al Khabourah, Saham andLiwa.

Al Owainat health centre in wilayatof Sohar is under construction at acost of RO426,000. It will serve sixvillages. The centre is expected toprovide health services to 16,454people.

Al Sharisah health centre in thewilayat of Al Suwaiq will be con-

structed at a cost of RO410,000 andis expected to serve 15 villages andprovide health services for a popu-lation of 22,891.

Al Qasabiyah health centre will beconstructed in Al Khabourah at acost of RO400,000, and expected toprovide health services for five vil-

Health prHealth prHealth prHealth prHealth projects in norojects in norojects in norojects in norojects in north Batinahth Batinahth Batinahth Batinahth BatinahSource: Times of Oman - 20 July 2006

vanced facilities, six gardens and anumber of water fountains yard. Italso includes rose gardens in attrac-tive geometrical deigns, a mosque,coffee shops, internal transportmeans among other facilities.

The municipality has completed thefacilities required for a park in thewilayat of Quriyat between the vil-lages of Dhabab and Bima andalong the Quriyat-Sur road currentlyunder construction.

The municipality has started con-struction of the facilities of thisproject since 18 months at an area ofover 160,000 square metres.

The services recently completed atthe said park include electricity andwater supply and planting of shadeand palm trees. The park now beganreceiving visitors.

The municipality has completed aproject of a public park in MadinatAl I’alam in Qurm. The park includesdifferent entertainment facilities,basketball and football grounds.The park includes a number of en-tertainment facilities, a fast food cof-fee shop, closed air-conditionedfamily areas as well as open-air fam-ily area among other facilities andservices.

The municipality has carried out in-novation works for a traditionalsouq and a tourism coffee shop inold Muscat city, which embraces

tourism and cultural landmarks suchas Al Jalali and Al Mirani forts andthe tourism facility of Al Bustan Pal-ace Hotel.

The traditional souq displays silverworks, antiques, pottery products,coffee shops and public facilities.

The project is designed similar tothe pattern of the traditional archi-tectural designs of the buildings ofold Muscat.

Work on the renovation and reha-bilitation of the fish market in thewilayat of Seeb will begin soon.

The project includes removal andreplacement of the current roof ofthe fish market building, replace-ment of the front side of the build-ing, demolition of the current fishsale outlets, to be built according toadvanced specifications, establish-ment of platforms for fish slicing for12 workers, exchange of the currentsewage system, identification of fishwholesale areas, a coffee shop andhealth inspection office.

The project comes within themunicipality’s efforts to cope withthe rapid construction and popula-tion growth in Muscat Governorateand to meet the requirement of thetrade movement witnessed in fishmarket in the wilayat of Seeb.

Work is also going on in Phase II ofimprovement of construction envi-

ronment project for Muscat. Thisproject includes construction ofnew residential units with new archi-tectural designs in Mayabeen andAl Dalalil areas.

Phase II of the project includes con-struction of 10 residential units eachat an area of 120 sq.metres

Work is also going on in Phase II ofthe social houses in the wilayat ofAl Amirat for construction of 37houses. Over 90 per cent of the con-struction works of the social houseshave completed and shortly wouldbe handed over to the owners.

The municipality is currently work-ing for execution of Bait Al BarandaHistory Museum in the wilayat ofMuttrah in cooperation with theMinistry of Heritage and Culture.The museum represents a culturaland tourism centre and heritagelandmark, which showcases thedeep-rooted history of Muscat byusing advanced technology in thefield of demonstration and display.

The museum will play a significantrole in attracting tourists and re-searchers from within and outsidethe Sultanate.

The museum will focus on a numberof aspects with regard to Muscatincluding its natural history, historyof man, Muscat and the sea, heri-tage, modern Muscat and preserva-tion of environment.

MARKET REPORT 75

Emirates Building Systems LLC(EBS), a subsidiary of Dubai In-

vestments Industries, the industryarm of Dubai Investments, has an-nounced the appointment ofCEMEC Trading & Services to mar-ket its range of construction and en-gineering products in the Sultanateof Oman. A distributor agreement tothis effect was signed recently be-tween Fouad Arwadi, sales generalmanager, EBS; and Adil Salim AlHooquani, chairman, CEMEC.

With this partnership, EmiratesBuilding Systems will further extendits role in Oman’s booming con-struction and real estate industry.The company had recently signed aprestigious contract in Oman withCarillion Alawi to engineer, fabricateand deliver 2,300 metric tonnes ofsteel, as part of the Phase II expan-sion of Muscat City Centre.

“By appointing CEMEC as our dis-tributor in Oman, we will be betterpositioned to strengthen our market

presence in the Sultanate, which iswitnessing significant develop-ments in the construction sector.

“Over the years we have been in-volved in the construction of sev-eral landmark projects across theMiddle East, and now we are glad toincrease the availability of our high-quality pre-engineered metal andsteel building structures in Omanthrough CEMEC,” said FouadArwadi.

EBS targets construction projects in OmanEBS targets construction projects in OmanEBS targets construction projects in OmanEBS targets construction projects in OmanEBS targets construction projects in OmanSource: Times of Oman - 16 July 2006

lages and a population of 19,539.

Hafeet health centre is under con-struction in the wilayat of Saham ata cost of RO400,000. The centre isexpected to provide health servicesfor six villages and a population of

14,808.

Nabar health centre in the wilayat ofLiwa is under construction at a costof RO398,000. The centre is ex-pected to provide health servicesfor six villages and a population of

9,636.

As per Ministry of Health statistics,the number of patients expected tobenefit from the prime medical ser-vices is estimated at 80,000. —Oman News Agency (ONA)

Hassan bin Ali Salman, chairmanof Al Hassan Group, has inau-

gurated the fifth showroom of AlHassan Electricals Co. LLC in AlKhoudh.

Al Hassan Electricals already has itsshowrooms in Honda, Hamriya,Seeb and Ghubra. With the openingof the fifth showroom, Al Hassanexpects to target the dealer andother business segments in andaround Al Khoudh.

Al Hassan Electricals is known inthe market as the one-stop destina-tion for all electrical products. With‘customer focus’ and ‘project-basedselling’ as its buzzwords, it has beenregistering phenomenal growthsince its inception in 1976, success-fully meeting challenges on the way.

With five showrooms at strategiclocations and a 160-strong dealernetwork spread over the country,supported by an experienced inte-rior sales team and efficient ware-housing/ inventory facilities, thecompany offers premium productsat unbeatable prices.

Constant innovations, research anddevelopment in sourcing enable thecompany to offer the latest productsto its clients. It holds exclusive dis-tributorship rights from well-knownmanufacturers the world over. Theproduct spectrum encompassespower and distribution transformers,medium and high-voltage cables,overhead line conductors, 11kV/33kV switchgears, power/control/instrumentation cables, heat shrink-able cable accessories, switches, in-

door decorative light fittings/chan-deliers, ceiling/exhaust fans, PVCconduits, building wires, energymeters, MCCBs and MCBs, earthleakage circuit-breakers, PG clamps,bimetallic lugs and LV/MVswitchgear panels, power tools,pumps, water heaters and muchmore.

Al Hassan Electricals is part of theAl Hassan Group, a multi-million,multinational, 30-year-old profes-sionally-managed diversified group,having business interest in con-tracting of EPC projects in oil, gas,power, water and petrochemical sec-tors; trading of power, oil, gas, waterand petrochemical-based equipmentand services, and manufacturing oflow and medium voltage switchgearpanels, lighting systems and paints.

Al Hassan Electricals opens new showroomAl Hassan Electricals opens new showroomAl Hassan Electricals opens new showroomAl Hassan Electricals opens new showroomAl Hassan Electricals opens new showroomSource: Times of Oman - 24 June 2006


Plans for the establishment of in-tegrated tourism resorts at Yiti in

Muscat Governorate, and Shinas onthe Batinah coast, are making goodheadway, according to officialsworking with the project’s promot-ers. Both resort properties are beingpromoted by Dubai Holding’s inter-national property development arm,Dubai International Properties,which was recently rebranded as‘Sama Dubai’.

Total investment in the two ven-tures, which are currently in themaster planning stage, is estimatedat $1 billion. Conceived as uniquelifestyle resorts with an Arabianflavour, the Yiti and Shinas projectswill bear Sama Dubai’s new globalbrand name for its planned chain ofinternational tourism and leisureproperties ‘Salam Resort & Spa’.Both developments, covering anarea of around 48 million squarefeet, will feature a number of 4- and5-star beachfront hotels suitably de-signed to offer a combination ofmountain, golf, spa and beach resortexperiences.

In addition to golf courses, theproperties will also be equipped tocater for a range of water sports andoutdoor pursuits, including diving,sailing, and so on. Also envisionedare around 2,100 low-rise residentialunits comprising 1, 2, 3 and 4-bed-room apartments and villas, in addi-tion to some 500 hillsidetownhouses.

Elements of Oman’s rich culture andheritage will be incorporated in thedesign of these homes. A number oftraditional-style souqs are alsoplanned as part of these properties.

The multi-use resort and leisure de-velopments stem from an agreementsigned in April last year betweenDubai International Properties andOman’s Ministry of Tourism, outlin-ing plans for an integrated tourismresort at Yiti. In May this year,Currie & Brown, the leading interna-tional construction and managementconsultancy, announced that it wasappointed as Cost Manager forSama Dubai on behalf of the presti-gious beach resorts. Currie & Brown

will provide cost, risk and valuemanagement services to link to-gether all elements of the project.

Established in 1876, Currie & Brownis a global leader in constructioncost, project, and risk managementoperating in over 50 countries. Thecompany acquired Barker Barton &Lawson Ltd in June 2003 and is nowone of the largest constructionconsultancies of its kind operatingin the Middle East. The regionalhead office is in Dubai and in addi-tion the company has offices inMuscat, Abu Dhabi and Doha.

Over the past year, Sama Dubai hasunveiled a clutch of major propertydevelopment and tourism projectsthat will place it in the big league ofinternational-scale real estate devel-opers. It includes Dubai TowersDoha, a commercial, residential andretail high-rise complex in the Qataricapital; Amwaj and Marina deCasablanca ambitious projects inMorocco; the Salam Beach Resort &Spa in Bahrain, and ‘The Lagoons’in Dubai.

Plans for $1 billion Yiti andPlans for $1 billion Yiti andPlans for $1 billion Yiti andPlans for $1 billion Yiti andPlans for $1 billion Yiti andShinas resorShinas resorShinas resorShinas resorShinas resorts fts fts fts fts firming upirming upirming upirming upirming up


French engineering and infra-structure specialist Airport de

Paris Ingenierie (ADPi) has won aRO7.7 million ($20 million) contractto provide project managementconsultancy services linked to thedevelopment of the Seeb andSalalah airports.

Envisaged at Seeb is a new passen-ger terminal designed to cater to 12million passengers per year in thefirst phase up from a present capac-ity of around three million passen-gers.

In Salalah, a new passenger terminalof a capacity of around two millionpassengers per year is proposed,along with a new cargo terminal andassociated infrastructure.

A joint venture of Cowi and LarsenArchitects and Consulting Engi-neers has already commenced workon the design of the new airportsunder a contract worth RO 18.3 mil-lion awarded in May last year.

According to officials, Cowi andLarsen will work closely with the

new project management consult-ants ADPi to finalise detailed designplans for the new terminals at Seeband Salalah. Construction of thenew terminals is expected to beshortly put to tender, with a contrac-tor likely to be selected before theend of this year.

With its selection as project man-agement consultant, ADPi will bringto the project its vast experience inthe design and development of air-port platforms and major infrastruc-tures around the world.

ADPi bags Seeb and Salalah airADPi bags Seeb and Salalah airADPi bags Seeb and Salalah airADPi bags Seeb and Salalah airADPi bags Seeb and Salalah airporporporporport contractst contractst contractst contractst contractsSource: Times of Oman - 06 July 2006

MARKET REPORT 77

The ‘Sohar Residential and Com-mercial Project’, a RO56 million

real estate venture in Sohar, was an-nounced yesterday with a signingceremony between Majan Gulf Prop-erties (MGP), and International GulfDevelopment and Contracting Com-pany (IGDC).

The signing ceremony for the onemillion sq mts project was held un-der the patronage of Dr Rajiha bintAbdulamir bin Ali, minister of tour-

ism at Shangri-La’s Barr Al JissahResort and Spa.

These projects are designed and willbe developed by Majan Gulf Proper-ties and represent the first majorventure of its kind comprising ofcommercial, industrial and residen-tial components in Sohar. Work onthe projects will begin in Septemberand will be completed in three years.

The announcement of this real es-

tate project also means that Sohar,once a staid coastal town has beenrecognised as the fastest growingindustrial hub in the region.

“The two-part Sohar Residential andCommercial Project comprises ‘AlBustan furnished Deluxe ApartmentComplex’ and the ‘Residential VillaCompou-nds’ to be built at an esti-mated cost of RO16 million andRO40 million,” said Mohammed S.Al Marzouqi, CEO of Majan Gulf

Majan Gulf, IGDC ink RO56 millionMajan Gulf, IGDC ink RO56 millionMajan Gulf, IGDC ink RO56 millionMajan Gulf, IGDC ink RO56 millionMajan Gulf, IGDC ink RO56 millionreal estate project dealreal estate project dealreal estate project dealreal estate project dealreal estate project deal


Sheikh Mohammed bin Ali AlQatabi, minister of state and

governor of Dhofar, said the Sultan-ate, under the wise leadership of HisMajesty Sultan Qaboos bin Said,had managed to achieve stabilitywhich is a prerequisite for attractingdomestic as well as foreign invest-ments.

The Sultanate has also envisaged tocontribute considerably towards thediversification of the economy andachieving welfare of the Sultanate,he said.

Qatabi said Dhofar governorate hasbecome a destination for the attrac-tion of capital, due to its natural andtourism potentials and diversifiedclimate in addition to security andstability in the Sultanate, andprogress witnessed in variousspheres.

He said various tourism projects willbe carried out and envisaged to beof benefit for the peoples in Dhofar,

thanks to the efforts of governmentand private sector officials.

In a statement to Oman NewsAgency (ONA), Qatabi added thattourism projects planned in the gov-ernorate of Dhofar include a tourismresort project at Shaa area, on thesea shore, a commercial complexproject, hotel apartments in Salalah(to be constructed in 2007-2008).

Qatabi said that tourism villageproject in Hino area at the wilayat ofMirbat will be completed by nextyear. He said development project ofHasik and Hafa areas are major de-velopmental projects to be carried inthe governorate.

As for service and infrastructureprojects currently under construc-tion and in the future in the gover-norate, Qatabi said last year and thisyear the government constructedand initiated various service devel-opment projects, including roadconstruction, lighting, beautification

and landscaping, construction ofmarkets and development of publicutilities.

He added that currently the govern-ment is providing financial supportand soft loans for a number of pri-vate sector projects to set up hotelsand tourism resorts.

Qatabi highlighted the role beingplayed by the authorities in attract-ing various tourism investments inthe governorate. To this effect, anumber of package tours wereorganised to Dhofar governorate asfrom September 2005.

The minister said preparations forKhareef Salalah 2006 had com-menced by end of last year’sKhareef, in construction and ser-vices activities and other logistics.The Sultanate participated in vari-ous AGCC exhibitions to promoteKhareef Salalah 2006, by distribu-tion of manuals and pamphletsabout it.

Qatabi lists neQatabi lists neQatabi lists neQatabi lists neQatabi lists new tw tw tw tw tourism prourism prourism prourism prourism projectsojectsojectsojectsojectsfor Dhofar governoratefor Dhofar governoratefor Dhofar governoratefor Dhofar governoratefor Dhofar governorate



A historic agreement worth RO43million was signed yesterday to

build the Wadi Dayqah Dam, thefirst and biggest of its kind in theSultanate of Oman.

The signing of this agreement hasset in motion a strategic water sup-ply scheme designed to quench thethirst of the capital area of Muscatas well as Quriyat in four years’time.

The agreement for the first phaseproject was signed by SheikhAbdullah bin Salim Al Rowas, minis-ter of regional municipalities, envi-ronment and water resources;Ahmed bin Abdulnabi Macki, minis-ter of national economy and deputychairman of the Financial Affairsand Energy Resources Council; andrepresentatives of ConsolidatedContractors Company Oman (CCC)and Vinci Construction of France.

In the first phase of this joint ven-ture project, a dam will be built

across Wadi Dayqah at Al Mazara ata height of 74 metres and width of400 metres. A secondary dam, 48metres high and 370 metres wide,will also be built a few hundredmetres from the main dam.

With these two dams, a reservoirwith a capacity of around 100 millioncubic metres of water will be createdto supply water.

In the second phase, elaborate fa-cilities will be built for pumping,storing, treating, and piping the wa-ter to residents of Quriyat and Mus-cat for domestic and agriculturalpurposes.

Speaking to the Times of Oman inan exclusive chat after the signingceremony, Ahmed bin AbdulnabiMacki, minister of national economyand deputy chairman of the Finan-cial Affairs and Energy ResourcesCouncil, said that the building ofthis dam falls within the strategy ofwater resources conservation in the

country and mainly it will feed theQuriyat and Muscat areas.

“The amount of water which will beconserved is about 100 million cubicmetres which is enough to feed thecapital area and Quriyat for threeyears,” disclosed Macki.

Speaking about the strategic studyfor drinking water resources in theSultanate, Ahmed said the govern-ment has accelerated the pace of en-hancing the water resources avail-ability.

“The government’s plan is to investabout RO1.2 billion from now until2020. Out of that we have alreadyspent about RO600 million on waterresources availability and I believethis demonstrates the concern ofthe government and His Majesty’svision to provide clean drinking wa-ter to the citizens,” Macki pointedout.

Meanwhile, Abdullah bin Nasser Al

Deal for RO43-million dam signedDeal for RO43-million dam signedDeal for RO43-million dam signedDeal for RO43-million dam signedDeal for RO43-million dam signedSource: Times of Oman - 07 June 2006

Properties (MGP) who signed theagreement along with YoussefWehbe, general manager, IGDC.

Commenting on the strategic loca-tion of Sohar for their first endeav-our, Mohammed Al Marzougi, CEO,MGP, said: “Sohar occupies a strate-gic 45km open sea gate on the Gulfof Oman and was chosen by thegovernment to be developed into amain industrial bay with 200sqkm ofindustrial city unique by its diversi-fied industry, refineries, petrochemi-cals, metal and aluminium. MGP iscontributing to this ‘industrial revo-lution’ led by the government bycreating residential and commercialagglomeration that fits the needs ofthe industrial growth.”

Majan Gulf Properties has joinedtheir efforts with different

consultancy firms and contractingpartners for the creation of the cur-rent and the future projects in Soharas well as their upcoming projects inKhasab.

MGP has, on the anvil, a number ofother stunning projects includingThe Pearl in Sohar, an inspiring searesort located in Mejis; the134,000sqmt Majan Logistic Cityfacing the reputed Sohar industrialzone; and the Khasab Family Resortin the Musandam peninsula.

MGP was established in Oman in2004 with its headquarters in Sohar.Founded by Nayef Al Rifai fromBahrain and Mohammed AlMarzouqi from the United ArabEmirates (UAE); the company hassales representatives in Kuwait,Bahrain, the UAE, Cairo (Egypt) and

soon in Saudi Arabia.

With the aim of becoming the pio-neer in real estate development andinvestment in Oman, MGP will con-tribute to the development of com-mercial and residential sectors in theSultanate.

International Gulf Development andConstruction Company (IGDC) isthe construction company estab-lished by Majan Gulf Properties andthe Lebanese Infrastructure Con-struction Company (ICC), member ofDoumit Group, for the developmentand execution of the works.

Marzouqi and Associates is aproject management, design, andsupervision consultancy firm with arich history of prestigious projectachievements and master plans.

MARKET REPORT 79

State-owned Oman Tourism De-velopment Company (OTDC)

and Saraya, one of the leading realestate development and asset man-agement companies in the region,yesterday signed a memorandum ofunderstanding to set up a megatourism joint venture in Muscat.

The master plan for this megaproject is yet to be developed. De-tails on the cost of the project andother parameters are in the processof discussions. Both the parties areexpected to reach a consensussoon.

Dr Rajiha bint Abdul Amir bin Ali,minister of tourism, and AliKolaghassi, vice-chairman and CEOof Saraya, signed the memorandumof understanding during the Omani-Lebanese business forum, atShangri-La’s Barr Al Jissah Resort.

Sheikh Saad Rafic Hariri, presidentof Future Parliamentary bloc, Leba-nese parliament, is the chairman ofSaraya.

In line with the MoU signed, OTDCand Saraya will develop a world-class tourism project in Muscat. Theproject will offer residential and en-tertainment facilities for tourists.

“Our strategy is to develop Oman asan internationally acclaimed touristcentre, and increase the pace ofOman’s economic development.

This project, we believe will supportour strategies of reinventing Omanas one of the major tourism destina-tions in the Middle East,” Dr Rajihabint Abdul Amir bin Ali, minister oftourism, told Times Business.

“We will utilize Oman’s diverse tour-ism potential and endeavour to cre-ate job opportunities and good re-turns for our investors. This projectwill be a model, in terms of planning,implementation and management,”Ali Kolaghassi, vice-chairman andCEO of Saraya told newspersons.

“Saraya is committed to developingall its projects in an environmental-

friendly and cultural-consciousmanner. Tourism will not only stimu-late economies but also provide thelocal communities with enormousbenefits, such as job opportunities,”a Saraya official said.

Saraya, headquartered in Ammanand the UAE, has invested in anumber of projects in Jordan andthe UAE. Its first investment isSaraya Aqaba, a $800 millionbeachfront travel destination on theRed Sea built around a man-madelagoon, spanning nearly 610,000square metres in the centre ofAqaba, adding approximately 1.5kmof beachfront right in the heart ofAqaba.

Saraya has invested in Ras AlKhaimah, the first of a series of pre-mium projects in the UAE. The $1.2billion Saraya Islands will be spreadover 1.2 million square metres, witha range of five-star hotels, familyand all-senses roots, privatebeaches, a water theme park, andcultural and commercial venues.

OOOOOTDC, SaraTDC, SaraTDC, SaraTDC, SaraTDC, Sarayyyyya ta ta ta ta to seo seo seo seo set up mega tt up mega tt up mega tt up mega tt up mega tourism vourism vourism vourism vourism ventureentureentureentureentureSource: Times of Oman - 04 June 2006

Bakri, undersecretary for water re-sources affairs at the Ministry ofRegional Municipalities, Environ-ment and Water Resources, speak-ing to this reporter said: “I would tolike the congratulate the wilayat ofQuriyat and Muscat governorate forthis project. This is the biggestproject in Oman in terms of storagedams. And that will provide waterfor domestic use.” Abdullah dis-closed that the target date forcompletion of this project is by endof 2009 or beginning of 2010.

“Once completed the dam, annually,will provide 20 million cubic metresof water to Muscat, 5 million cubicmetres to Quriyat and 10 million cu-bic metres for agricultural pur-poses,” Abdullah said. Located in

the Eastern Hajjar mountain ranges,Wadi Dayqah links the wilayat ofDima wal Tayeen in the Sharqiyahregion with Quriyat in Muscat gov-ernorate before reaching the sea atDaghmar.

It is also one of the largest perennialstreams on the Arabian peninsulawith a year round flow fed by acatchment area encompassing some1,900 square kilometres.

Studies show that only a fraction ofthe wadi’s prolific capacity is cur-rently channeled for useful pur-poses downstream. Annually, some10 million cubic metres of water isused by a system of aflaj servingthree downstream villages – AlMazara, Hayl Al Ghaf and Daghmar.

The remaining 50 million cubicmetres is either lost as runoff duringmajor flooding, infiltrates the wadibed and enters the groundwatersystem downstream or is lost to thesea via springs.

The projects main objective is totrap the floodwaters and after suit-able treatment to supply potable wa-ter to areas of the capital region inthe next stage of development.

The dam project and associated wa-ter supply network will help supportagricultural development,strengthen potable water supplies,augment groundwater reserves, andstimulate tourism and other alliedactivities in the Al Amerat, Quriyatareas of the Muscat governorate.


The Wave, Oman’s leading tour-ism and beachfront residential

development, has announced thatits first residential release hasevoked an unprecedented responsewith sales touching over $100 mil-lion.

Half of the units in the first residen-tial release, covering 221 town-houses and villas and due to becompleted in early 2008, werebought by Omanis with the remain-ing bought by the expatriates

mostly based in the Sultanate, ac-cording to company officials. Thedemand to the project can begauged from the fact that the firstrelease witnessed buyers from 24different nationalities.

The Wave, Muscat is the first mixeduse development granted the rightto sell freehold property rights to allbuyers, including foreigners.

Speaking on the phenomenal re-sponse to the first release, Eng.

Abdullah bin Abbas bin Ahmed,president of Muscat Municipalityand chairman of The Wave, Muscatsaid: “The unprecedented demandfor the first release underpins theuniqueness of our development.While we were always confidentabout the success and the interest itwould generate, to exceed sales of$100 million reflects the faith every-one has in our project and its iconicnature. The development is destinedto become a landmark destination,which will attract tourists, residents

The WThe WThe WThe WThe Waaaaavvvvve fe fe fe fe fiririririrst sales release nest sales release nest sales release nest sales release nest sales release nets ots ots ots ots ovvvvver $1er $1er $1er $1er $100m00m00m00m00mSource: Times of Oman - 28 May 2006

Sohar Aluminium has signed anagreement with Dawood Con-

tracting to lease 160 residential unitsto be built in the wilayat of Sohar.

In line with the arrangement, the de-veloper will build and own the prop-erties, and Sohar Aluminum hascommitted to a long-term lease.

Dawood Al Futaisi, a young entre-preneur from the Batinah, ownsDawood Contracting. Dawood alsoruns a profitable family business incontracting and furnishing.

On signing the agreement withSohar Aluminium, Dawood com-mented: “We are proud to have wonthe tender for building the residen-tial units for Sohar Aluminium. Wehave worked very hard over the lastcouple of years to compete for vari-ous projects in Muscat and Sohar,and being associated with the SoharAluminium Company will add to ourtrack record of success.”

Dawood Contracting has been in-volved in the design and construc-tion of various buildings in the CBDarea, residential complexes in Mus-cat and Sohar and the implementa-tion of various government projectswith both the Municipality and Min-istry of Defence.

Tony Kinsman, CEO of Sohar Alu-minium, said: “We are pleased thatafter going through a transparentand fair evaluation process DawoodContracting was awarded this leasecontract.

“The fact that the Dawood Con-tracting is owned by a young busi-nessman from the Batinah area isvery much in line with our objec-tives of providing opportunities tothe business community in thearea.”

Kalat Al Bulooshi, HR general man-ager, added: “This housingdevelopement is based on an ar-

rangement where the developer willbe building and owning the proper-ties and SA is committing to a longterm lease.

The housing units committed withDawood represent only a small partof the total housing requirement forSohar Aluminium staff in the comingthree years and the balance of therequirements are expected to besupplied by the local market and byindividuals around the smelterarea.”

Sohar Aluminum’s shareholders are:Oman Oil Company; Abu Dhabi Wa-ter and Electricity Authority; andAlcan Canada.

The company was established inSeptember 2004 to construct andoperate a single AP35 potline alu-minium smelter with an associatedpower plant. The smelter is targetedto start its first production of hotmetal in 2008.

Sohar Aluminium, Dawood ContractingSohar Aluminium, Dawood ContractingSohar Aluminium, Dawood ContractingSohar Aluminium, Dawood ContractingSohar Aluminium, Dawood Contractingsign agreementsign agreementsign agreementsign agreementsign agreementSource: Times of Oman - 03 June 2006

MARKET REPORT 81

Oman and Egypt has joinedhands to set up a major world-

class tourism project.

Government-owned Oman TourismDevelopment Company (OTDC) andEgypt’s Orascom unveiled the mas-ter plan for the prestigious $600 mil-lion joint venture — Muriya — hereon Wednesday.

On behalf of the government, OTDChas picked a 30 per cent stake in thenew tourism venture and Egypt’sOrascom 70 per cent. Besides Oman,Orascom has a large number of am-bitious projects in Egypt, Jordan,the UAE, Switzerland and Mauritius.

Oman’s leading asset managementcompany Fincorp is the financial ad-viser for this project. Muriya willcreate a tourist destination, en-dowed with the flavour of Oman’sdiversified nature and culture. Themaster plan includes developmentof Wadi Al Qurum, Salalah, Sifahand Al Soda Island.

“We are committed to fully exploitthe Sultanate’s tourism potential,which will help stimulate long-termeconomic development,” Dr Rajihabint Abdul Amir bin Ali, tourismminister, told the Times of Oman.

Ahmed bin Abdulnabi Macki, minis-ter of national economy and deputychairman of the Financial Affairs

and Energy Resources Council; HisHighness Sayyid Haitham bin TariqAl Said, minister of heritage and cul-ture; Maqbool bin Ali Sultan, minis-ter of commerce and industry; andseveral royal family members andindustry captains attended the un-veiling ceremony at the Grand HyattMuscat.

“We endeavour to promote tourismin a big way, that could generatemore job opportunities for nationals.We are confident that projects suchas Muriya will give a big boost tothe domestic tourism industry,” saidRajiha, who is also the chairpersonof OTDC.

“Promotion of hygiene and healthhas always been a priority for Oman,and development of world-classtourism infrastructure plays a crucialrole in economic growth,” shepointed out.

“Muriya is fully committed to pre-serving the natural treasures ofOman. The long-term plan is to de-velop unique resorts at four selectlocations including Wadi Al Qurum,Salalah, Sifah and Al Soda Island,”said Orascom chief Samih Sawiris.

Muriya proposes to transformQurum into a classy township byupgrading its status as the hub ofthe city, involving an elegant 250-room six-star hotel; an old Omani

souq, linked to a 35,000 squaremetres shopping mall; a 35,000square metres office building tohouse the most reputable local andforeign companies; and a retail pe-destrian street — promenade —packed with exclusive brand outlets,cafes and restaurants, a six-screencinema theatre, under ground park-ing garage, to name a few. There willbe two bridges crossing the wadi.

Oman’s capital city, Muscat hasbeen a major destination for busi-ness and leisure travellers for thelast 10 years or so. In fact, Oman,the second largest country in theArabian Peninsula offers a uniqueopportunity for business and leisuretravellers to experience the Arabianhospitality at its best.

In Salalah, Muriya proposes five ho-tels having the status of 4-6 stars.The area will have inland marina andmarina towns, comprising luxuriousreal estate apartments. An 18-holegolf course and water sports andtracks for horse and camel riding willalso be developed in the area.

In Sifah, the company plans to buildfour hotels having 4-6 star grades.An 18-hole golf course and watersports and tracks for horse andcamel riding will also be developedin the area. In Al Soda Island, a luxu-rious boutique resort with seven-star facilities will be developed.

Oman, Egypt tOman, Egypt tOman, Egypt tOman, Egypt tOman, Egypt to seo seo seo seo set up $600 m tt up $600 m tt up $600 m tt up $600 m tt up $600 m tourism vourism vourism vourism vourism ventureentureentureentureentureSource: Times of Oman - 27 May 2006

and business, creating a place likenowhere else.”

He added: “From the very begin-ning, the team focused on the pro-cess and paid attention to the vari-ous details throughout the stages ofthe development. As we cross an-other important milestone in creat-ing our landmark destination, we are

on course to deliver on our coremission to offer unparalleled invest-ment and lifestyle opportunities inthe centre of Muscat.”

Subsequent to the issuance ofRoyal Decree 12/2006, interestedbuyers from UK, India, Dubai,Bahrain, Kuwait and other countriesmade a beeline to The Wave, Mus-

cat to lap up the opportunities onoffer. The first residential release in-cluded waterfront villas, garden vil-las and townhouses.

The construction of units in the firstrelease will coincide with thecompletion of the Oman’s first seafacing golf course to be designedby renowned golfer, Greg Norman.

Documents

Interior &Buildex 2009 Market Report