RO 82 million investment in development projects
Published: 02:10 PM,Oct 08,2024 | EDITED : 06:10 PM,Oct 08,2024
Six key projects were highlighted, representing diverse sectors from tourism to residential development, reflecting the government's commitment to balanced regional growth.
MUSCAT: The Urban October conference, hosted by the Ministry of Housing and Urban Planning at the Oman Convention and Exhibition Centre, entered its second day with an Investment Forum that reviewed projects from the Governorates Development Competition. The forum, held under the auspices of HH Sayyid Marwan bin Turki al Said, Governor of Dhofar, highlighted a range of investment opportunities in winning projects from the first and second editions of the competition (2023-2024), with total investments surpassing RO 82 million.
The forum focused on promoting development across Oman’s governorates, showcasing a series of high-impact projects that aim to drive economic growth, enhance tourism, and improve infrastructure. Six key projects were highlighted, representing diverse sectors from tourism to residential development, reflecting the government's commitment to balanced regional growth.
Leading the investment portfolio is Al-Razzaz Boulevard in Salalah, Dhofar Governorate, a large-scale mixed-use development covering 470,000 square meters. With an estimated investment value of RO 40 million, this project is set to transform the urban landscape of Salalah, providing a hub for retail, residential, and leisure activities. In Musandam Governorate, the Ames Bay development project in Khasab was another major highlight, covering 68,700 square meters with an investment value exceeding RO 7 million. Another significant initiative is the Ramal Park project in Nakhal, South Al Batinah Governorate, which covers an area of 225,000 square meters and has an investment exceeding RO 7 million. The Al-Durra project in Al-Khabourah, North Al Batinah, spans more than 60,000 square meters and carries an investment value of over RO 9.8 million. Focused on enhancing local tourism, Al-Durra will feature environmentally conscious development designed to attract both domestic and international tourists.
In Al Hamra, the Jebel Shams “Grand Canyon” facade project covers an area of 148,000 square meters and boasts an investment of more than RO 7.7 million. Finally, the Ibri View project in Al Dhahirah Governorate covers over two million square meters, with an investment value exceeding RO 10.8 million. Residential Projects and Investment Opportunities In addition to the key projects, the forum announced eight new investment opportunities in integrated residential plans and neighborhoods. Five of these opportunities are designated for residential projects in Al Hamra, Bahla, Bidiya, Jalan Bani Bu Ali, and Liwa, covering a total area of more than 1.3 million square meters. Meanwhile, three integrated residential neighborhoods will be developed in Izki, Samail, and Al Buraimi, covering a combined area of 379,000 square meters. These developments are expected to provide housing for over 9,000 families, addressing the growing demand for affordable, modern living spaces in Oman’s governorates.
A key focus of the forum was youth empowerment and the promotion of small and medium enterprises (SMEs). As part of the Basmat Competition, young Omanis are being invited to contribute ideas to the Sultan Haitham City project across various fields, including architecture, environment, technology, and social development. This initiative aims to encourage youth participation in shaping the city’s future, ensuring that it reflects the aspirations of Oman’s younger generation.
A major milestone of the conference was the signing of 77 usufruct agreements, covering more than one million square meters and attracting over RO 20 million in investment. These agreements span various sectors, including commercial, residential-commercial, and industrial developments. Notably, 14 contracts were signed in the commercial sector, covering 83,000 square meters with investments exceeding RO 6.6 million. Additionally, 16 contracts were signed for mixed-use residential-commercial projects, with a total investment of RO 5.4 million. The industrial sector saw the signing of 47 contracts, covering 972,000 square meters, with investments exceeding RO 8 million.
The forum also saw agreements for the purchase of 200 housing units from integrated residential neighborhood projects, valued at over RO 8.5 million. These units will be allocated to social housing beneficiaries, ensuring modern, fully serviced housing for eligible families across several governorates, including Salalah, Sohar, Halban, Rustaq, and Nizwa.
The forum focused on promoting development across Oman’s governorates, showcasing a series of high-impact projects that aim to drive economic growth, enhance tourism, and improve infrastructure. Six key projects were highlighted, representing diverse sectors from tourism to residential development, reflecting the government's commitment to balanced regional growth.
Leading the investment portfolio is Al-Razzaz Boulevard in Salalah, Dhofar Governorate, a large-scale mixed-use development covering 470,000 square meters. With an estimated investment value of RO 40 million, this project is set to transform the urban landscape of Salalah, providing a hub for retail, residential, and leisure activities. In Musandam Governorate, the Ames Bay development project in Khasab was another major highlight, covering 68,700 square meters with an investment value exceeding RO 7 million. Another significant initiative is the Ramal Park project in Nakhal, South Al Batinah Governorate, which covers an area of 225,000 square meters and has an investment exceeding RO 7 million. The Al-Durra project in Al-Khabourah, North Al Batinah, spans more than 60,000 square meters and carries an investment value of over RO 9.8 million. Focused on enhancing local tourism, Al-Durra will feature environmentally conscious development designed to attract both domestic and international tourists.
In Al Hamra, the Jebel Shams “Grand Canyon” facade project covers an area of 148,000 square meters and boasts an investment of more than RO 7.7 million. Finally, the Ibri View project in Al Dhahirah Governorate covers over two million square meters, with an investment value exceeding RO 10.8 million. Residential Projects and Investment Opportunities In addition to the key projects, the forum announced eight new investment opportunities in integrated residential plans and neighborhoods. Five of these opportunities are designated for residential projects in Al Hamra, Bahla, Bidiya, Jalan Bani Bu Ali, and Liwa, covering a total area of more than 1.3 million square meters. Meanwhile, three integrated residential neighborhoods will be developed in Izki, Samail, and Al Buraimi, covering a combined area of 379,000 square meters. These developments are expected to provide housing for over 9,000 families, addressing the growing demand for affordable, modern living spaces in Oman’s governorates.
A key focus of the forum was youth empowerment and the promotion of small and medium enterprises (SMEs). As part of the Basmat Competition, young Omanis are being invited to contribute ideas to the Sultan Haitham City project across various fields, including architecture, environment, technology, and social development. This initiative aims to encourage youth participation in shaping the city’s future, ensuring that it reflects the aspirations of Oman’s younger generation.
A major milestone of the conference was the signing of 77 usufruct agreements, covering more than one million square meters and attracting over RO 20 million in investment. These agreements span various sectors, including commercial, residential-commercial, and industrial developments. Notably, 14 contracts were signed in the commercial sector, covering 83,000 square meters with investments exceeding RO 6.6 million. Additionally, 16 contracts were signed for mixed-use residential-commercial projects, with a total investment of RO 5.4 million. The industrial sector saw the signing of 47 contracts, covering 972,000 square meters, with investments exceeding RO 8 million.
The forum also saw agreements for the purchase of 200 housing units from integrated residential neighborhood projects, valued at over RO 8.5 million. These units will be allocated to social housing beneficiaries, ensuring modern, fully serviced housing for eligible families across several governorates, including Salalah, Sohar, Halban, Rustaq, and Nizwa.