Damac to break ground on $2bn Mina Al Sultan Qaboos project in November
Over 100 companies show interest in the various key construction and installation packages
Developer Damac plans to break ground on the Mina Al Sultan Qaboos waterfront project in Oman in November of this year. The $2bn project is being developed through a joint venture (JV) with the Oman Tourism Development Company (Omran).
The redevelopment of the area will see the rise of a mixed-use integrated tourist port and lifestyle development that features residences, hotels, dining, retail and leisure offerings.
The project’s masterplan was approved by the Ministry of Tourism and Ministry of Housing in Oman.
According to Omran, several preparatory activities have already been undertaken; the prequalification for the main construction packages has been completed and companies have been shortlisted to carry out various aspects of the project. The first package is to be tendered later this month and construction is scheduled to begin in November.
Several studies have been conducted in the areas surrounding the project to ensure that the development is sustainable, Damac said. The developer notes that the MoU and Shareholders Agreement for the project have been signed and final discussions with concerned ministries regarding the Project Development Agreement are underway.
Construction work on the Discovery Centre located at the Al Inshirah plot of the Muttrah corniche, is nearing completion and will be opened to the public in the third quarter of 2019, the statement said.
Damac states that as the project is a redevelopment of an existing port, the project teams coordinated with 22 existing tenants, and following discussions, six were identified and relocated from the project site to other suitable locations.
The project site has already been cleared while services and utilities such as electricity, water and telecoms have been rerouted away from the development path, the developer said.
