Oman tourism to boost real estate sector
Integrated Tourism Projects expected to attract investments into real estate
Jumeirah Group will manage two upcoming hotels in Oman
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Oman’s real estate market is expected to receive a boost following the development of the country’s first Integrated Tourism Complex (ITC).
Jumeirah Group will manage two beachfront luxury hotels at the complex, which will also contain five residential zones of high-end housing on the 2.2sqkm site of Saraya Bandar Jissah.
The demand for ITC properties is increasing in Oman, according to Marianne Helme, residential manager at Cluttons. However, she added that the pace of construction in the country needs to be increased to match this demand.
“They should start building more quickly,” said Helme, as per a report by local daily Times of Oman. “Many people are coming from Dubai and buying in Muscat. Also people are coming from the Gulf.”
Local developer Muscat Hills also recently announced the construction of its new 270-room five-star InterContinental Hotel & Golf Clubhouse, due to open its door in 2016, said the report.
Big Project ME has extensively covered Oman’s tourism market in its upcoming April 2014 issue, with special focus on the Kempinski Hotel in the country, due for opening in 2015.
