Village Square is hub of the project

“We have almost completed phase one that constitutes 80 per cent of the project,” he said. “It has 260 units which are almost ready, many of which have been sold; we have about 30 families living there. By next month, we are expecting to hand over the rest of the sold units. Phase one also consists of two hotels with 280 five star rooms and all the facilities such as a spa, ballroom, restaurants, coffee shops and much more”.

Talking about additional facilities that are included in phase one of the project, Al Hosni said it would consist of a leisure area with various activities for the residents of Muscat Bay.

“We have a large park which will have lot of facilities for the people living here including swimming pools for the children and adults, tennis court, playground, multi-purpose court and green areas,” he explained. “This park will further be linked to the Village Square which is the commercial hub of the project , consisting of coffee shops, supermarkets and restaurants.”

He added that the project also provided staff housing and full facilities for up to 460 hotel employees. “We are almost there in terms of finishing one of the hotels and expect the opening by the fourth quarter of this year,” added Al Hosni. “Phase two will consist of an additional 250 residential units, targeted to begin in 2020 and completed by 2022.”

The CEO also announced the launch of a five-year payment plan with zero percent interest to both nationals and foreigners interested in purchasing property within Muscat Bay.

“The payment plan allows for potential homeowners to purchase select residences by paying a deposit of 40 per cent of the cost of the home,” revealed Al Hosni. “They can move in right away and the remaining 60 per cent of the cost can be repaid, interest free, over a period of five years . They can easily plan to settle the amount on a monthly, quarterly, half-yearly or yearly basis according to their personal financial situation.

“When selecting a property to purchase, homeowners are either attracted to the location, the development, or the price. The uniqueness of the Muscat Bay project is that we are able to satisfy our customers by meeting all three qualities in our residences,” he added. “With 90 percent of Phase 1 of the Muscat Bay project now complete, we are proud to reveal our five-year payment plan. This opens up new opportunities for a larger number of residents to join the Muscat Bay community and to move into their completed dream home. I am confident that the new payment plan will appeal to potential homeowners looking to invest in the limited real estate at one of the most exclusive ITCs in the region.” Muscat Bay includes the exclusive 22 villas that make up part of the Wajd properties, which are situated on a private hill area, and the 33 Nameer villas, which are surrounded by one of the largest man-made lagoons in the country. In addition, the Zaha residences include 200 residences ranging from one to two bedroom apartments, three bedroom penthouses and duplexes with swimming pools.

Commenting on the Muscat Bay properties, Vice President of Sales and Marketing, Robert Bselis, said, “Muscat Bay is different from most ITCs in Oman and in the region due to the exclusivity of the limited residences. Our luxury estates are located alongside two five-star resorts, which are also a part of the project. Muscat Bay enjoys a balance in its location, by being in close proximity to the centre of the city, yet offering the quiet and privacy brought by the surrounding Hajar Mountains. The location takes in sites of the unique rock formation from the mountains, as well as a panoramic view of the clear blue Gulf of Oman.

“I believe that the project offers an exceptional kind of exclusivity and privacy that cannot be found in other ITC projects in the region,” Bselis added. “With the launch of the interest-free, five-year plan, Muscat Bay is the destination for new homeowners of all nationalities to commit to their dream home. It is also an opportunity for potential investors looking for a stable long-term investment in real estate, and seeking the security of their returns in the short and long term.”