OMRAN board members visit projects in Muscat
MUSCAT: The Board of Directors of OMRAN, the Sultanate’s executive arm for tourism development, toured several projects and development partnerships in Muscat.
Mohammed bin Salim al Busaidy, Chairman of the Board of Directors, accompanied by the board members visited Mina Al Sultan Qaboos Waterfront, the flagship project, which is currently being reassessed by the Oman Investment Authority and OMRAN.
The Board of Directors were briefed on the project plans under review and the various assets associated with it under Muttrah Tourism Development Company LLC (MTDC), which was established to redevelop Port Sultan Qaboos into a mixeduse tourism and residential community.
The process of restructuring the ownership of shares between the partners in the project was completed recently by transferring all the shares to OMRAN.
The Board members then visited the Jebel Sifah project, a joint venture between OMRAN Group (30 per cent) and Orascom Development Holding (70 per cent), and the Muscat Bay project, which is an equal partnership between OMRAN and Eagle
Hills.
Touring both integrated tourism projects, OMRAN officials were briefed on the status of the construction phases, completed facilities and further examined the various operational and administrative aspects, as well as the sales and marketing programmes.
Al Busaidy said, “OMRAN possesses a large development and investment portfolio that supports the tourism sector’s infrastructure and attracts foreign direct investments. Through the various residential, tourist, leisure and commercial facilities, these integrated tourism complexes play a fundamental role in steadily growing this vital sector and boosting the in-country value and domestic spending, which consequently contribute to developing the local businesses and creating more opportunities for SMES”.
The Jebel Sifah is a 6.2 million sqm Integrated Tourism Complex (ITC) venture developed by Muriya, a joint venture between OMRAN Group and Orascom Development Holding (ODH). The project encompasses a wide range of residential units, hospitality facilities, restaurants and various recreational facilities.