Oman's Azaiba beachfront project to be launched in October

Muscat: A multimillion dollar luxury housing project on the Azaiba beachfront will be launched in October this year, according to officials.
The $100 million-project will have 67 villas in different locations across Muscat, which will be equipped with modern amenities; including swimming pools and a boutique shopping mall in phase one, and cater to nationals looking for luxury residential units.
The announcement came during signing of a Memorandum of Understanding (MoU) to collaborate on the unique $100 million project portfolio with high-end residential, commercial and retail components.
“Our partnership with the Khalili group will enable us to deliver the high-end project. We are inspired by the tremendous possibilities of this collaboration, our first build-to-sell venture. The magnitude of the multi-faceted portfolio we have created with Tibiaan, real-estate specialists of the highest standing, is a sign of our confidence in the real-estate market’s unlocked potential, its strong prospects for growth, and of course Oman’s immense appeal as an investment destination.
“With a vision of creating value for the Sultanate as it transforms its economic base, the Al Khalili Group will leverage its construction experience to deliver properties and real-estate projects of distinction and unsurpassed value, built on an uncompromising dedication to quality and with an unrivalled design aesthetic,” Fahad Al Ismaili, chief executive officer of Tibiaan properties said.
The Al Athaiba beach villas and trailing projects in the first phase of the $100 million development undertaking will be available for off-plan purchase later this year.
Demand is expected to be intense. Options to buy and lease further elite residential, tourism and commercial properties will be made available shortly thereafter.
The project is also expected to drive jobs for Omanis and encourage Omanisation practises, said Al Ismaili.
“There will be several companies, which will be sub-contractors and this would encourage the job market for Omanis in the country. Subsequent phases of the project will see the development of other leisure and lifestyle assets.