Six Agreements Inked to Develop Residential Neighbourhoods in Different Parts of Oman

Muscat: The “Third Real Estate Development Conference”, held in conjunction with the “18th edition of the Design and Construction Week”, began at Oman Convention and Exhibition Centre today.

The joint event, which will last several days, is being organized by the Ministry of Housing and Urban Planning in cooperation with Oman Real Estate Association. It is a global event attended by real estate developers and those interested in the field of real estate development.

The opening ceremony was held under the auspices of Abdulsalam Mohammed Al Murshidi, Chairman of Oman Investment Authority (OIA).

During the conference, 6 partnership and development agreements were signed within the “Integrated Residential Plans and Neighborhoods Project”. The projects occupy a total area of 3.3 million square metres and they have an investment value of RO 333 million. They provide more than 5,000 residential units, as follows:

“Al-Luban Neighborhood” project, in the Wilayat of Nakhal, Governorate of South Al Batinah; the “Majd Neighborhood” project in the Wilayat of Sohar, Governorate of North Al Batinah; the “Husn Al Zain” project in the Wilayat of Bidbid, Governorate of A’Dakhiliyah; the “Al Ahd Neighborhood” project in the Wilayat of Al Amerat, Muscat Governorate, the “Tilal Al Nakheel” Project in the Wilayat of Khasab, Musandam Governorate and the “A’shurooq Neighborhood” project the Wilayat of Salalah, Dhofar Governorate.

The event also included the signing of agreements to award integrated residential layouts for units that occupy a total area of 1.3 million square metres and cost RO 5.7 million. These include Al Rustaq layout in South Al Batinah Governorate, Nizwa layout in A’Dakhiliyah Governorate and the North A’Sharqiyah layout in Wilayat of Al Mudhaibi.

Seven investment sites were floated for electronic bidding via the “Tatweer” platform. The online bidding initiative reflects the Ministry’s keenness to keep pace with digital transition updates.

The event also saw the opening of an associated exhibition showcasing the products of more than 150 exhibitors and comprising 10 international pavilions.The exhibits include prominent future development projects like the Sultan Haitham City, “Ayda” project, Al Jabal Al Akhdhar destination project, Oman Waterfront at Al Khuwair Downtown, the Future City in at Oman Tourism Front in Salalah, Sohar Future City and the masterplan of Greater Muscat.

The conference is an opportunity for investors from different countries to meet. Agreements were also signed for the development of projects and the launch of sales at Sultan Haitham City.