SUSTAINABLE VALUE

The Sultanate’s first sustainable residential development project at Ras Al Hamra (RAH) is entering a significant stage with all future phases of construction proceeding at a frenetic pace. In a span of one year, two phases have been completed while four construction phases have been awarded totalling more than 700 units.

As the national oil and gas company in Oman and one of the country’s largest companies, PDO has been determined to provide state-of-the-art accommodation and facilities for its people while making a lasting statement about the importance of sustainable living. The RAHDP masterplan has been divided into five phases to provide high-quality, low-density homes and amenities in an environmentally sustainable community. An additional Phase 6 retail development is also being pursued as part of a plan to make it an integrated community township development. Once complete in 2022, the multimillion dollar RAH residential development project will boast 1,067 residential units, including apartments, villas and townhouses for PDO employees and their families from 70 different nationalities.

Meanwhile, oil demand for the Middle East region in 2H19 is anticipated to improve over 1H19 levels, driven by improvements in Saudi Arabian oil demand data in July and August. Moreover, in 2020, assumptions are focused on healthier demand for transportation and industrial fuels, compared with 2019, according to OPEC Monthly Oil Market Report.

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