Muscat: Al Sedrah Real Estate has unveiled its latest residential project, Lotus Complex - first project of the company to be executed at Ras al Hamra in Qurm.
Sheikh Salim bin Ahmad al Ghazali, chairman of Golden Group of Companies, said the real estate venture is one of the group’s ambitious projects to support the luxury residential projects segment that will offer all aspects of modern life and comfort.
Lotus, which is a luxury residential project in Al Qurm, is the first contribution made by Al Sedrah Real Estate in the real estate development sector in Oman. The high-end customised project is situated in one of the most attractive and strategic locations. It has 110 apartments - 40 one-bedroom apartments, 65 two-bedroom apartments, and five three-bedroom apartments. The residential complex is a five-floor project, in which the ground floor will host many restaurants, shopping centres and a mini mall. There will be an underground two-floor parking for tenants and visitors.
Based on that permanent doctrine, Lotus Project is expected to be an architectural masterpiece in Oman; as it is located at one of the most strategic places at Al Qurm Heights, surrounded by many shopping centres and the famous Qurm Park.
According to Ahmed al Hamedi, general manager of Al Sedrah Real Estate, the project is offered for sale based a separate-unit system, to optimise opportunities for those who wish to buy their dream residential units. There is a package for potential buyers, including easy installments. The buyer will hand over 10 percent of total value on booking and the remaining amount will be paid through quarterly installments of 15 percent of the total value. To make more funding options available, Al Sedrah has signed a number of agreements with local banks to provide the loans for the buyers. The company will continue supervision on the project after delivering units to ensure the highest level of comfortability for all owners.
The new project is an addition to the group’s list of achievements in 2016, which included the Al Yasmin residential and commercial complex at al Khuwair, Oasis Mall Complex at Madinat Sultan Qaboos, a logistics complex at Barka and the InterCity Hotel at Salalah.
The residential complex will be delivered within two years as the construction on the project has already started a couple of months ago, noted Al Humaidi. The work flows will be according to plans executed by reputed companies. The new project is an initiative by Al Sedrah, which has a long history and record of great projects, such as Inter City Hotel at Salalah; and other big projects in Muscat and other regions all over Oman. The future projects including the Mercure Hotel in al Khuwair, Rotana Hotel in Salalah and Marina al Duqm. Al Sedrah Real Estate has a vision of offering solid contributions to the economic development in the Sultanate of Oman.
Recently, the group announced a number of tourism projects that will add more than 2,500 hotel rooms to the local market and support the plans of the Ministry of Tourism. The promising tourism projects include the Shaza Muscat Hotel, which is a five-star hotel consisting of 250 rooms, 150 hotel apartments and many international restaurants.
Sheikh Salim bin Ahmad al Ghazali,chairman of Golden Group, has highlighted that the expansion plans are according to some well thought out and per strategic plans. Today, the group operates in many fields, including as construction, real estate development, properties management, hospitality, furniture, oil and gas, investment, tourism and travel, logistics, and contributing to the establishment of a number of banks and financial establishments in Oman and GCC.
The achievements due to the group’s philosophy of building the most attractive and cooperative work environment with attention paid to delivering projects characterised by innovation and creativity through services that match the changing needs of clients and local communities.