OMR250 million Oman resort agreement signed

Oman Monday 24/April/2017 20:25 PM
By: Times News Service
OMR250 million Oman resort agreement signed

Muscat: An agreement has been signed by the Ministry of Tourism in Oman and the Palm Beach Company for the Al Nakheel ITC (Integrated Tourism Complex) development in Barka.
The OMR256 million-development will include three hotels, hotel apartments, 1,436 residential units, a shopping mall, a traditional souk, an international school, restaurants, an aqua water park, and other entertainment and service facilities.
Commenting on the launch of the development, Ahmed bin Nasser al Mahrizi, minister of Tourism in Oman said the agreement is a direct translation of the role the private sector is playing in the implementation of the Sultanate’s tourism strategy for 2040.
“Over the past few weeks, we have witnessed the signing of a number of agreements with various private sector companies to develop new ITCs, each of which will provide a variety of modern accommodation and tourism facilities for both tourists and locals.
“Today, we have signed yet another agreement, this time to develop the Nakheel project in the Wilayat of Barka, which is directly in line with our objective of having the private sector play a greater role in the implementation of the Sultanate’s tourism strategy of 2040.”
The development agreement was signed by Minister Al Mahrizi and Hussain Jawad, chairman of the Board of Directors of Palm’s Beach Company and the Alargan Towell Investment Company, the primary investor in the project.
The Al Nakheel project (ITC), which will span a total area of 500,000 square metres, is located in Al Rumais in the Wilayat of Barka.
Notable features of the project are an 830-metre waterfront overlooking the Sea of Oman and at the heart of the development will be a Crystal Lagoon and promenade covering an area of 51,000 square metres, which will become the recreational and entertainment hub of the new urban area.
The project will be developed in three phases over the course of 10 to 15 years, based on market requirements. Construction work for the first phase of the development is expected to begin in 2018.
It will include the project’s infrastructure, the Crystal Lagoon, a 4-star hotel with a capacity of 125 rooms, 185 hotel apartments, a traditional souk, and 582 units of apartments and villas.
As the area in which the project is located lacks the necessary basic infrastructure services, the company will install electricity and water supplies, and will also build a bridge and road connecting the new Al Batinah Coastal Road with the project that will also serve the needs of all the residents living in the area.