To develop three world-class leisure destinations in the Sultanate, Ministry of Tourism Sultanate of Oman has signed a memorandum of understanding (MoU) with Qatari Diar Real Estate Investment Company.
The MoU aims to create three mixed-use developments throughout the Sultanate. It also establishes a partnership of 70/30 between Qatari Diar and Omani Ministry of Tourism on the three projects respectively.
Qatari Diar has been associated with the Omani market since a long period. The company previously signed a preliminary agreement with Omani Ministry of Tourism to finance and construct a mixed-use property at Ras Al Hadd in the Sur district.
The latest MoU includes a clause called ‘The Ras Al Hadd development’, features a 5-star hotel and spa, residential villas, apartments, souks, a marina and villa plots. While the second of the three developments boasts a 5-star luxury resort hotel and spa as well as residential villas and apartments. The third project brings to life a yacht club and marina, a sports academy, and three boutique hotels.
It is noteworthy that the Oman tourism ministry has been playing an active role in promoting Oman as an exclusive luxury destination. Earlier last week, the ministry conducted a campaign, ‘Now’, over the summer and until the end of September to boost travel within the country.
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