Construction

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

RELATED ARTICLES: Arabtec to set up five new subsidiaries | KSA, UAE lead GCC construction market | South Korean consortium leads Oman Rail bid

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.

0 0 votes
Article Rating

Comments

Most Popular

To Top
0
Would love your thoughts, please comment.x
()
x