Oman starts work on $208mln integrated tourism complex in Dhofar
The project is considered a landmark tourism venture due to its prime location and comprehensive facilities in tourism and hospitality.
It is being implemented in partnership with Al-Wathba Hospitality Company under a usufruct agreement signed in February this year, said the ministry.
Azzan Qasim Al Busaidi, Undersecretary of the Ministry of Heritage and Tourism, emphasized the project's importance in supporting small and medium enterprises, generating direct and indirect job opportunities, enhancing local content, and providing training and qualification programs for Omani citizens in tourism and hospitality.
The Phase I of the complex, scheduled for completion within 30 months, will see the construction of a five-star hotel with 124 guest rooms, a yacht marina (one of the largest in Oman) with restaurants and cafes as well as a beach club and health club.
Khalid Abdullah Al Abri, Director General of Heritage and Tourism in Dhofar Governorate, said the new tourism project was among the most prominent in the governorate in terms of investment volume and diversity of components.
He highlighted the efforts made by the Ministry of Heritage and Tourism in recent years to promote Dhofar as a tourist destination by opening new tourism markets and direct flight routes.- TradeArabia News Service
Copyright 2025 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Khaleej Times
2 hours ago
- Khaleej Times
Dubai's hottest property spots offer yields up to 7.4%
Dubai's residential property market continues to flourish, with six communities emerging as key hotspots for investors and first-time buyers, offering rental yields of up to 7.39 per cent. The six standout communities — Jumeirah Village Circle (JVC), Damac Island, Downtown Dubai, Dubai Marina, Meydan City, and Dubai South — are registering strong sales volumes and capital appreciation, underscoring a shift toward value-driven locations supported by master-planned development and improved connectivity, according to the latest analysis by Chestertons Mena. The study highlights a market defined by strategic urban planning, infrastructure development, and growing investor confidence — trends that are shaping the future of real estate across the emirate. JVC continues to attract younger tenants and first-time buyers with its relative affordability and strong yields. Average property prices in JVC stand at Dh1,238 per square foot, with rental returns reaching 7.39 per cent — among the highest in the city. Dubai South, a strategically positioned hub near Al Maktoum International Airport and Expo City Dubai, averages Dh1,035 per square foot and offers yields of 6.77 per cent, drawing interest from investors seeking long-term value. Damac Island, averaging Dh823 per square foot, stands out as the most affordable among the six and delivers a robust rental yield of 7.38 per cent, boosted by off-plan pricing and early investment advantages. Meanwhile, Meydan City continues to gain traction with a combination of spacious units, upgraded infrastructure, and rental yields of 7.14 per cent at an average price of Dh1,915 per square foot. More centrally located areas such as Dubai Marina and Downtown Dubai maintain their appeal, despite higher entry points. Dubai Marina properties average Dh1,757 per square foot with a yield of 6.24 per cent, while Downtown Dubai commands the highest average price at Dh2,504 per square foot and offers a consistent 6 per cent return, supported by high demand and its premium status. According to Chestertons Mena, the continued momentum in these communities reflects Dubai's evolving property landscape, where suburban master-planned zones are gaining prominence amid land constraints in core urban areas. This trend is being fuelled by the government's Dubai 2040 Urban Master Plan and the D33 economic agenda, both of which promote integrated, high-quality living environments and aim to double the city's GDP over the next decade. Mania Merrikhi, chief operating officer and managing director of Chestertons Mena, said Dubai has firmly established itself as a global investment hub. 'Initiatives like the D33 agenda are set to drive even greater economic and urban expansion over the next decade. Simultaneously, other emirates such as Abu Dhabi are also gaining prominence, offering fresh opportunities backed by major infrastructure projects.' Mohamed Mussa, executive director at Chestertons Mena, echoed the sentiment. 'Government support continues to be instrumental in shaping a vibrant and accessible real estate market. From streamlined regulations to enhanced investor protections, the UAE is attracting a new wave of international and family-oriented buyers. We expect sustained demand for full-service, lifestyle-focused communities that offer convenience, value, and long-term growth.' Supporting this transformation is a raft of buyer-friendly policies, including lower down payment thresholds, improved mortgage access, and long-term visa options tied to property ownership. These initiatives are drawing a growing cohort of international investors and end-users, particularly families and remote workers looking to settle in lifestyle-oriented communities with access to schools, healthcare, retail, and leisure. Recent data from the Dubai Land Department shows a 25.8 per cent year-on-year increase in real estate transactions in the first half of 2025, exceeding Dh180 billion. The residential segment continues to dominate, accounting for over 60 per cent of total sales, as developers roll out high-appeal projects in line with growing demand. New launches by major players such as Emaar, Sobha Realty, and Binghatti are contributing to inventory expansion in prime and emerging areas alike. The surge in off-plan sales is another indicator of investor optimism. According to CBRE's latest Dubai Residential Market Snapshot, off-plan sales accounted for 58 per cent of total residential transactions in H1 2025, with volume increasing by over 32 per cent compared to the same period last year. This is particularly evident in communities like Dubai South and Damac Island, where pricing remains competitive and the promise of long-term value is attracting new entrants. Rents have also continued their upward trajectory, with average apartment rents in Dubai rising 18.5 per cent year-on-year, according to a recent Asteco report. Villa rents surged 19.6 per cent, further underlining the value of owning income-generating assets in master-planned communities. The report also notes that while prime areas such as Downtown and Palm Jumeirah are seeing stabilisation, mid-market and emerging zones are driving rental growth as tenants seek more space and better affordability.


The National
2 hours ago
- The National
UAE-backed GlobalFoundries expands partnership with Apple
US-based semiconductor manufacturer GlobalFoundries, owned by Abu Dhabi's sovereign fund Mubadala Investment Company, and Apple have deepened their partnership as part of the global tech giant's pledge to invest in US manufacturing. The announcement comes after Apple on Wednesday said it intends to invest an additional $100 billion in the US, bringing its total investment commitment to $600 billion in the next four years. In its pledge, Apple also announced the American Manufacturing Programme to boost its supply chain and help move advanced manufacturing to the US. GlobalFoundries is among the first partners in the programme that also include Texas Instruments, Samsung and Broadcom. 'This is part of our $600 billion commitment to the US over the next four years, and we couldn't be more excited about the future of American innovation,' Apple chief operating officer Sabih Khan said in a statement. Apple's investment announcement came after President Donald Trump had threatened to impose tariffs on the company for manufacturing its flagship iPhones outside the US. During a call with analysts after reporting earnings last week, Apple chief executive Tim Cook said a 'vast majority' of its iPhones are made in India. Mr Trump doubled India's tariff rate to 50 per cent earlier on Wednesday. GlobalFoundries investments GlobalFoundries said its partnership with Apple will allow it to speed up investment at its facility in Malta, New York state. 'This is a testament to GF's technology differentiation, coupled with our unique secure and onshore capabilities, and the trust Apple has placed in GF to deliver and build the advanced chips that power its next-generation smart mobile technologies,' GlobalFoundries chief executive Tim Breen said in a statement. The UAE-backed company in June also teamed up with Apple, SpaceX, AMD, Qualcomm, NXP and General Motors as part of its plans to invest $16 billion to expand its semiconductor manufacturing and advanced packaging in New York and Vermont. GlobalFoundries said that investment commitment, which came after the US President's visit to the UAE, was the result of collaboration with the Trump administration and support from leading technology companies. The company on Wednesday said its partnership with Apple, as well as its $16 billion planned investment, is supported by the Trump administration's efforts to prioritise US leadership in artificial intelligence, including manufacturing semiconductors domestically.


Arabian Business
3 hours ago
- Arabian Business
UAE's Mira Developments expands into Oman with Salalah real estate project
UAE-based real estate firm Mira Developments has announced its entry into the Omani market with a new master development in Salalah. The announcement was made during a three-day retreat hosted by the company in Salalah, attended by over 100 real estate professionals, including brokers, architects and lifestyle brand representatives. The event focused on Mira's regional expansion strategy, with Salalah positioned as a key growth area. View this post on Instagram A post shared by Mira Developments (@ The company did not disclose the size, cost, or timeline of the Salalah development, but said the project would fall under a broader pipeline that includes upcoming ventures such as Mira Coral Bay. 'Our strategic expansion into Oman is an epitome of Mira Developments' unwavering vision to pioneering luxury real estate across the GCC,' said Tamara Getigezheva, Co-Founder of Mira Developments. Known for developing fully furnished and branded residences in the UAE, Mira has partnered with global fashion and design labels including Dolce & Gabbana Casa, ELIE SAAB, and Bentley Home. Its entry into Oman comes as developers across the Gulf look to new markets amid a growing appetite for high-end real estate offerings beyond traditional hubs. The company said its focus in Salalah would include sustainability and integration with the local climate, without providing further project-specific details.