Qatar’s Diar to develop three Omani leisure destinations
Developer to enter into a 70-30 partnership agreement with the Oman Ministry of Tourism
Qatar’s Diar Real Estate Investment Company has signed a Memorandum of Understanding with the Oman Ministry of Tourism to develop three international leisure destinations in the Sultanate.
Under the agreement, Diar would enter into a 70-30 partnership with the Omani Ministry of Tourism to develop three mixed-use development projects across Oman. The company had previously signed a preliminary agreement with the ministry to finance and construct a mixed-use property at Ras Al Hadd in Oman’s Sur district.
The development project consists of apartments, a five-star hotel and spa, souks, residential villas, a marina and villa plots. The second plan includes a five-star luxury resort hotel and spa as well as apartments and residential villas.
The third project boasts a yacht club, sports academy, marina, as well as three boutique hotels.
