Monday 29 / April / 2024
Muscat: With an estimated cost of OMR12mn, the Phase 1 (A) of the Al Nakheel Integrated Tourism Complex was launched under the patronage of Salim Mohammed Al Mahrouqi, Minister of Heritage and Tourism at the W Hotel Muscat on Sunday.
The three phases of the project are expected to cost over OMR250mn and help find jobs for about 3,000 Omanis in the tourism, hotel, entertainment, retail and services sectors, said Mohammed Moosa Al Abri, CEO of Al Nakheel project.
Al Nakheel ITC project, which spans a total area of 500,000 square metres of usufruct land, is located in Al Rumais which links Muscat Governorate with the Wilayat of Barka. The project features development of 830-metre waterfront overlooking the Sea of Oman. But at the core of the project is the Crystal Lagoon covering an area of 51,000 square metres and the promenade which will become a recreational and entertainment zone of the new urban area.
The event was attended by senior officials from the Ministry as well as representatives of the investors.
Murtadha Ahmed Sultan, Member of the Board of Directors of Towell Group, partner in ALARGAN Towell Investment Company and primary investor in the project; Eng. Khaled Al-Mashaan, CEO and Vice Chairman of the Board of Directors of ALARGAN International Real Estate Company based in Kuwait; and Mohammed Moosa Al Abri, CEO of Al Nakheel project were also present on the occasion.
Diversified tourism sector
Al Mahrouqi stressed the importance of this project, which aligns with the Ministry’s plan to build a diversified tourism sector that meets the needs and requirements of the domestic and regional tourism industry.
He noted that this project enhances the competitive capabilities of the Sultanate of Oman, combining natural, historical, cultural, historical and social elements that are unique to the Gulf region. He also lauded those at the helm of this project and praised the investment model that brings together partners from inside and outside the Sultanate.
He added that the ministry is working at various levels to accomplish similar projects in a number of governorates, thanks to the approved directives and policies to build an economy based on diversified revenue streams that enhance the labour market and local content.
Murtadha Ahmed Sultan noted, “The project aims to strengthen the infrastructure of the tourism sector, increase the number of hotel rooms, create rewarding employment opportunities for Omanis and achieve other goals that are related to the development of the tourism sector in the Sultanate of Oman in line with Oman Tourism Strategy 2040. We are confident that the project will be a valuable addition to the Wilayat of Barka as well as the surrounding areas, including the nearby capital city of Muscat.”
Meanwhile, Eng. Khaled Al-Mashaan noted, “The attractiveness of the Sultanate of Oman as a leading tourist destination in the region and the government’s plans to develop the tourism sector, have encouraged investors to enter this promising sector, which we expect to become one of the most prominent economic sectors in the country in the next few years.
“We, at ALARGAN International, are among the first investors in the real estate sector in Oman. Our decision at ALARGAN Towell to invest in the field of integrated tourism complexes providing a market leading design that will harness the natural beauty of the area to develop outstanding tourist attractions in the Wilayat of Barka, is a continuation of the success stories achieved by the company across the Sultanate, which are represented by distinctive projects that add value to the communities around them.”
The development includes three hotels and hotel apartments with a total capacity of 670 keys, 1,436 residential apartments, villas and town houses that will be available for ownership by Oman citizens and people of other nationalities. It will also include a shopping mall, a traditional souk, an international school, various restaurants, an aqua park and other entertainment and service facilities. The project will be developed in three phases over the course of 10 to 15 years.
During this year, construction works will start in Phase 1 (A) of the project, which includes internal roads and infrastructure, the Crystal Lagoon with its recreational facilities, a four-star hotel with 188 keys, a traditional souk, apartments and residential villas.
Mohammed Moosa Al Abri said, “The project is characterised by a natural and calm location on the beach of Al-Rumais, which is close to the Governorate of Muscat, the City Center of Barka and other urban centres. The project aims to create a tourist destination in the Wilayat of Barka that is attractive to citizens, residents and tourists coming to Oman.”
“In addition to the Crystal Lagoon and other design characteristics, Al Nakheel ITC project will be distinguished from other ITC projects by the reasonable prices of residential units which will be within the reach of citizens and residents alike. We expect the project to attract local and foreign investments across various components of the project, create added value and contribute to the GDP of the Sultanate,” he added.
