Muscat: A new Ibis Hotel is one of many new projects planned for Madinat Al Irfan, which is home to the Oman Convention and Exhibition Centre.
Led by Omran, the Sultanate’s tourism development company, the new hotel is expected to have up to 282 rooms, and will be adjacent to the OCEC. In addition, a new building which will can be leased by commercial establishments will also be built. This complex is also expected to include Omran’s own head office. The net leasable area of the building would be approximately 16,000 square metres.
Salah Salim Al Ghazali, vice president of development partnerships and investment relations at Omran said: “We encourage the investment community to take advantage of this opportunity in this world-class, evolving area which enjoys a strategic location at the heart of Muscat, creating a modern urban destination for visitors, residents and businesses.”
He added, “Madinat Al Irfan East is a vibrant area that encompasses the country’s new events hub, Oman Convention and Exhibition Centre Precinct, which is linked to the new Crowne Plaza Muscat OCEC Hotel and Muscat’s first JW Marriot Hotel. This is in addition to the Business Park which is designed to house the offices of leading corporations – and currently home to the new Omantel headquarters. OMRAN is now offering investors a unique opportunity to invest in this ideal and innovative business environment.”
The minimum lot size of investment shall be decided by OMRAN based on the final number of investors. Prospective institutional investors are requested to submit their Letter of Interest by email to [email protected] latest by 31 October 2019.
OMRAN has a proven track record of delivering and managing sustainable and authentic tourism assets, lifestyle communities and destinations that are aligned with Oman’s National Tourism Strategy 2040. The company is also actively involved in strategic partnerships with renowned regional and international investors to create sustainable socio-economic benefits for the country.
A spokesman from the company said, “Omran creates sustainable and authentic tourism assets, lifestyle communities and destinations that drive economic growth and contribute to the diversification of the economy. We achieve our mandate by acting alone or as a catalyst in bringing together the strength of government with the entrepreneurship of the private sector.
He added, “We work with all stakeholders, partners, SMEs and local communities to ensure a positive physical, social, economic contribution to both the environment and people’s lives while respecting the traditional culture and environmental values of Oman. We are inspired by Oman’s beauty, peace and hospitality.”