SUS­TAIN­ABLE DE­VEL­OP­MENT

Oil and Gas - - EDITOR’S NOTE -

The Ras Al Hamra res­i­den­tial de­vel­op­ment project (RAHDP) in Mus­cat is very unique and one can con­sider it as a high-end real es­tate de­vel­op­ment. The RAH res­i­den­tial de­vel­op­ment lo­cated in Qu­rum Val­ley, is set to pro­vide ac­com­mo­da­tion for 1,067 Pe­tro­leum De­vel­op­ment Oman (PDO) staff from 70 dif­fer­ent na­tion­al­i­ties by 2022. The 281-hectare RAHDP mas­ter­plan has been di­vided into five phases. Phase 1 res­i­den­tial and in­fra­struc­ture pack­age that in­cluded 280 res­i­den­tial units, an in­ter­na­tional school, mosque and a golf course, was com­pleted in 2015.

What’s note­wor­thy about the project is the pri­or­ity be­ing ac­corded to In-Coun­try Value (ICV). All con­struc­tion con­tracts have been awarded to lo­cal con­trac­tors and SMEs, and the ma­jor­ity of ma­te­ri­als used in the project are lo­cal prod­ucts. The project has be­gun to at­tract a num­ber of oil and gas firms, who have come for­ward to repli­cate the RAH res­i­den­tial de­vel­op­ment model in their coun­tries.

Mean­while, the im­prove­ment in the oil price en­vi­ron­ment should trans­late into pos­i­tive over­all eco­nomic ac­tiv­i­ties, thereby lend­ing some sup­port to oil de­mand in 2018. Trans­porta­tion fu­els, mainly gaso­line and diesel oil, are an­tic­i­pated to be the prod­ucts lead­ing oil de­mand growth.

En­joy read­ing the is­sue!

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