‘Mina Sultan Qaboos Waterfront’ is being redeveloped into a US$1bn integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail, leisure and community facilities that is set to make it amongst the top waterfront destinations in the region.
A memorandum of understanding was signed in the presence of H E Dr Ali bin Masoud bin Ali al Sunaidy, Minister of Commerce and Industry and chairman of Omran, Hussain Sajwani, chairman of Damac, H E Dr Ahmed bin Mohammed bin Salim al Futaisi, Minister of Transport and Communications and Omran board member, as well as other key dignitaries.
H E Dr Sunaidy said, “Mina Sultan Qaboos is based in the 200-year-old historical centre of commerce in Muscat and is the most visited tourist destination in Oman. The redevelopment of the port by Omran will build renewed interest and focus to the area, while creating a strong investment proposition for the tourism, real estate and leisure industries.”
H E Dr Futaisi added, “The transformation of Mina Sultan Qaboos into a thriving economic and tourist hub stems from His Majesty Sultan Qaboos bin Said’s vision to move the port’s commercial activity to Port Sohar, paving the way for its redevelopment into an integrated tourist hub.”
During the ceremony, Sajwani commented, “This historic agreement reflects the vision of His Majesty the Sultan to transform Oman into a world-class tourism and investment destination. As the second largest developer in the region and with a strong record of international experience, Damac is ideally positioned as the development partner of Omran. As part of its commitment to the project, Damac will contribute to the local road infrastructure, improving opportunities for local SMEs and Omani nationals, as well as enhancing the economic and social standing of the community as a whole.”