MOCI Launches a Number of its Lands for Investment and Real Estate Development
An official source at the Ministry of Commerce and Industry announces that as part of the government's approach to promote partnership between the public and the private sectors in Oman in order to achieve the economic development goals in the country, especially in commercial, tourism and real estate sectors. Ministry of Commerce and Industry,under the agreement and coordination with the Ministry of Finance, has conducted an inventory to all government owned lands registered in its name in all governorates of the Sultanate aiming to offer them for investment to the private sector in accordance with the long-term usufruct agreement after conducting the necessary preliminary study for these lands to determine the nature and the components of the projects suitable for Economic, planning, and social development. In this regard as a first step and after the coordination with the relevant authorities, Ministry of Commerce and Industry will announce officially an invitation to all investment and real estate developers companies in order to attract them to invest in the development of the three sites (locations), namely the land of Oman International Exhibition Center at airport heights in the wilayat of Busher in Muscat governorate with an area of (127224 square meters), and the second land in Al-Khuwair area, in the wilayat of Busher in Muscat governorate, with an area of (14588 square meters), and finally the land at Ghala heights in the wilayat of Busher in Muscat governorate with an area of (13267 square meters) at the beginning of April 2018.
In this regards the Ministry has almost completed the preliminary studies of the three mentioned locations (lands), as well as the preparation of the preliminary plans for the nature and components of the projects. Where the components of the first land located in the airport heights will consists of four-star hotel and hotel apartments, series of office / residential buildings (12 buildings), health club with a baby daycare center (kindergarten), medium-sized independent building for conferences, commercial complex (mall), housing units for the Ministry of Commerce and Industry and the headquarter building of the Ministry which will be developed by the investor and at his expense without any financial implications for the government in return for the utilization of the investor for the rest of the land to implement and develop the component in accordance with long-term usufruct agreement. The design and selection of the components included a 600-meter-long shaded walkway, interspersed with office / residential buildings, and over looked by restaurants and cafes located on the ground floor of the residential and office buildings, aiming to provide an upscale environment and a unique experience for business, shopping and entertainment.
The components of the other two locations and sites (Al Khuwair and Ghala) will be mixed use between residential, commercial and office.
It should be noted that the studies carried out by the Ministry of the three sites includes traffic and soil test studies, and the designs of the buildings of the three projects and sites will be modern and innovative according to the standards of green and energy-saving buildings, because of the use of solar panels and environmentally friendly building materials, hoping it becomes a reference model for the new buildings to be built in the Governorate of Muscat in particular and the Sultanate in general.