New project worth more than OMR8mn to be distinctive investment destination in Salalah

Business Monday 20/March/2023 17:02 PM
By: Times News Service
New project worth more than OMR8mn to be distinctive investment destination in Salalah

Muscat: Tibiaan Properties and Al Tamman Real Estate Company, a subsidiary of Muscat Overseas Group, have signed a contract to develop and market the first commercial development of its kind exceeding an investment amount of OMR8 million in the Dhofar Governorate in the Al Saada area, Salalah.

'Ajwaa' project will include commercial units dedicated to various activities such as office spaces, retail spaces, restaurants, cafes, etc.

This cooperation comes into place to deliver premium projects in Dhofar Governorate, where demand is rising for quality real estate projects. The project name 'Ajwaa' is an Arabic word that refers to the beautiful weather Salalah is enjoying throughout the year, thus reflecting the opportunities this project offers to investors in both corporate and individual capacities.

The project location was carefully selected within one of the most active areas in Salalah directly on Sultan Taimur Street in Al Saada, with an easily accessible route to all parts of Salalah.

Ajwaa will represent a distinctive investment destination, as it will allow individuals and institutions the opportunity to own a commercial space for their own business or to rent it and obtain returns from it. It will be designed on a land area of more than 20,000 square metres and includes more than 220 various commercial spaces making it an integrated commercial destination for work and leisure alike.

Himansu Mohapatra, General Manager of Al Tamman Real Estate, mentioned, “Al Tamman Real Estate is a major real estate developer in Oman, and we announce our new project in Salalah – Ajwaa – which comes to enrich the market with quality and innovation which meets the demand expectations.”

Speaking about the location and design Himansu added: “What distinguishes the project, in addition to its strategic location, is its distinctive design that comes following the highest technical and aesthetic specifications, in addition to designing smooth exits and entrances for the audience.”

Younis Al Harrasi, CEO of Tibiaan Properties, said, “We are pleased to announce the cooperation of our first project in the Wilayat of Salalah with Al Tamman Real Estate Company, where we have studied the project importance and value addition to the Governorate of Dhofar starting from identifying the land location to creating the best mix of commercial units which will serve the community.”

"This project comes in line with our direction to expand our presence all over the Sultanate to deliver real estate solutions and a wider range of investment opportunities after a journey that extends to over 20 years of real estate services in Oman. We are proud to work alongside a well-known real estate developer who has a proven record of distinguished projects of high quality and delivery standards,” Al Harrasi added.