Agreements worth OMR150 million signed for real estate development and integrated service stations

Muscat: The Ministry of Housing and Urban Planning signed eight agreements worth more than OMR150 million to implement projects in the fields of real estate development and integrated service stations in the governorates of Muscat, North Al Batinah and South Al Batinah.

The agreements include the construction of an integrated city in the Wilayat of Al Amerat comprising full urban facilities, on an area of more than 445,000 sqm. The city will provide 1,050 housing units valued at OMR60 million.

As part of the projects, a similar city will come up in the area of Halban, Governorate of South Al Batinah, on an area of more than 637,000 sqm - to provide 1,350 housing units valued at OMR100 million.

The agreements also provide for the expansion of integrated service stations, based on usufructuary contracts to lease lands for residential, commercial and tourism purposes. To this effect, agreements were signed to set up two integrated service stations in the wilayats of Liwa and Saham, Governorate of North Al Batinah, on a total area of 45,000 sqm at an investment cost of OMR4.6 million.

In the Wilayat of Barka, South Al Batinah Governorate, two integrated service stations will be set up on a total area of 60,000 sqm (for both stations) for OMR3 million.
The agreements include a usufruct contract for the expansion of Oman LNG facilities at the Airport Heights in the Governorate of Muscat on a total area of 2,194 sqm for OMR1 million.

The ministry also signed a memorandum of understanding (MoU) for the introduction of an electronic real estate service (“Aqari” Platform), by using blockchain technology, alongside Frontech company (ITHCA Group), to provide a smart, electronic method to sell and purchase lands and properties through the use of digital mediums.
The agreements were signed by Dr Khalfan Said Al Shu’aili, Minister of Housing and Urban Planning, and the representatives of private sector firms concerned.