Muscat: The Wave, Muscat yesterday signed the sale and development agreement of Kempinski The Wave, Muscat Hotel and Hotel Apartments, the first of the four hotel developments at The Wave, Muscat.
The Omani Hospitality Company (OHC) will develop Kempinski The Wave, Muscat – Muscat's newest five-star hotel.
Addressing the media to announce the agreement and development plan, Abeer Mohamed Al Abduwani, deputy chairperson of Omani Hospitality Company said Kempinski The Wave, Muscat will offer 309 hotel keys and 77 hotel apartments overlooking the beachfront.
The hotel will also offer 12 food and beverage and four retail outlets. Also, the five-star Kempinski will offer meeting facilities, swimming pools, spa options, beach club facilities, gymnasium, ballroom, kids club and a bowling facility.
Construction of the hotel will begin in the first quarter of 2013 and it is scheduled to start operation during the second half of 2015.
Three more hotels will be developed at The Wave, Muscat including two five-star hotels, the Fairmont and Marina Boutique Hotels, and the four-star Village Plaza Hotel. All these hotels will give a tourism and economic boost to Muscat and Oman.
The new hotel, which will target both business and leisure travellers, is designed in harmony with the surrounding ITC development, in a contemporary style and to the highest specifications.
The plot area is approximately 45,250 square metres and will be built to a maximum six-storey height, including a two-floor basement car park with the total development area will be 79,481 square metres. It will have access to Almouj Marina and Almouj Golf.
The agreement was signed by Michael Lenarduzzi, chief executive of The Wave, Muscat and Abeer Mohamed Al Abduwani. The signing ceremony was attended by Eng. Sultan bin Hamdoon Al Harthy, chairman of The Wave, Muscat, board members and senior officials from both companies and managing director and president of Kempinski hotel for Middle East, Africa and Indian Ocean.
Commenting on the signing of the agreement, Eng. Sultan bin Hamdoon Al Harthy, chairman of The Wave, Muscat, said: "Kempinski's outstanding track record of hospitality expertise will bring a new and distinguished addition to the Omani hospitality and tourism sector.
Kempinski is a valuable internationally-renowned addition to Muscat through their high standard facilities and quality services in hotel management. When operational, the hotel will be a remarkable landmark in the city and will significantly support the promotion of Muscat as a tourist destination and The Wave, Muscat as a pioneering integrated tourism complex in the country."
Kempinski The Wave, Muscat is in a strategic location, as the closest five-star hotel to the airport and nearby upcoming commercial district. In a prime beachfront position in the heart of The Wave and nearby Almouj Marina, the hotel is set to appeal to the residential community as well as international tourist and business travellers visiting Oman.
OHC was selected as investor to develop the Kempinski The Wave, Muscat from a list of local and regional investors who tendered for the development contract.
Abeer Mohamed Al Abduwani, who is also the chief executive of Oman Brunei Investment Company, said: "Kempinski The Wave, will be positioned clearly above the current comparable set of hotels in the market in terms of finish and design and will compete with the new supply of luxury resorts entering the market. The new hotel will be a valuable addition to The Wave, Muscat and a tourist milestone development for Muscat governorate."
Kempinski Hotels is Europe's oldest and most established luxury hotel collection, with more than 70 properties throughout Europe, the Middle East, Africa and Asia. In the Middle East, other major Kempinski properties are located in the UAE, Turkey, Qatar, and Jordan.
Formed in September 2012, OHC aims at developing hospitality related projects in Oman.
The shareholders of OHC are focused on developing projects that will support the Sultanate's objective of developing the tourism sector. It was formed by a group of Omani institutional investors including the Oman Brunei Investment Company, National Investment Funds Company, the Civil Service Employees Pension Fund, the Diwan of the Royal Court Pension Fund, the Internal Security Services Pension Fund, the Ministry of Defence Pension Fund, the Royal Oman Police Pension Fund and the Sultan's Special Forces Pension Fund.
The development of the Kempinski, The Wave Muscat, marks the first investment for the company.