Latest news with #RO56mn
25-05-2025
- Business
RO56mn for Wadi Shab development, ITCs in Nakhal and Khasab
Muscat – Ministry of Heritage and Tourism has signed three usufruct agreements valued at RO56mn to develop two integrated tourism complexes (ITCs) and transform Wadi Shab into a year-round destination for nature and adventure tourism. This is in line with efforts to diversify the economy and boost the tourism sector. The projects are located in three governorates. The agreements were signed by H E Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, at a ceremony on Sunday. The first agreement, signed with Omran Group worth RO2mn, is for development of Wadi Shab in Tiwi, wilayat of Sur in South Sharqiyah. The site will be transformed into an eco-tourism destination, featuring a zip line, mountain trails, suspension bridges, swimming areas and dining facilities. 'Wadi Shab is a site of exceptional natural beauty and biodiversity, known for its clear waters, caves and waterfalls,' H E Mahrouqi said. 'This project will promote environmental sustainability while offering unique recreational experiences.' The second agreement is for development of the Sandan – Pearl of Khasab tourism complex in Musandam. Built on a 43,658sqm site near Khasab Fort and Atana Musandam Hotel, it will include a 200-room four-star hotel, 450 residential units for Omanis and foreign nationals, a traditional market, shops, restaurants and leisure facilities. The third agreement is for the Halban Gardens complex in wilayat of Nakhal in South Batinah. Spread over 201,031sqm, the project will feature a four-star hotel with 156 rooms, 535 residential units including villas and apartments, a market, water park, restaurants and recreational amenities. In a statement, the ministry said the agreements reflect the government's strategy to promote sustainable tourism and attract investment to key regions. The projects support Oman Vision 2040 objectives to position tourism as a key non-oil economic sector while preserving the country's natural and cultural heritage.
15-02-2025
- Business
Oman announces plan for 3 agricultural cities worth RO3bn
Muscat – Ministry of Housing and Urban Planning (MHUP) has announced plans to develop three agricultural cities, each with an investment of RO1bn, in a move aimed at boosting food security and economic diversification. The initiative, launched by MHUP in collaboration with Ministry of Agriculture, Fisheries and Water Resources, will see the establishment of agricultural cities in Saham in North Batinah, Dhahirah and the Najd region of Dhofar. Each city will cover approximately 50sqkm, with construction on the Saham and Najd sites having begun in 2024 following finalisation of designs. The cities are expected to benefit over 43,000 people annually, contribute 2% to Oman's GDP and generate more than 10,000 jobs. As part of efforts to support economic diversification, MHUP signed 1,592 usufruct contracts in 2024 through public auctions, generating RO56mn in investments and RO9.5mn in revenues, a 2% increase from the previous year. These contracts covered key sectors such as agriculture, industry, commerce, tourism and integrated residential neighbourhoods. The ministry granted land to 19,800 beneficiaries and resolved 16,000 ownership disputes with an approval rate of 82.3%. Social housing remained a priority, with 1,242 families receiving housing assistance worth RO31mn and 200 modern housing units secured for social purposes at a cost of RO8.5mn. Urban development projects are also progressing with seven integrated residential neighbourhoods under construction – Al Naseem in Barka, Al Luban in Nakhal, Hisn al Zain in Bidbid, Al Ahd in Amerat, Al Shurooq in Salalah, Nakheel Hills in Khasab, and Majd neighbourhood in Suhar. The ministry is working on developing three more integrated residential neighbourhoods – Al Azm in Rustaq, Al Samou in Mudhaibi and Al Noor in Nizwa. These projects, valued at RO500mn, have seen 70% of Phase 1 units sold, with 25% allocated to non-Omanis to encourage foreign investment. Meanwhile, Sultan Haitham City is progressing steadily, with site preparation complete, 10% progress on five key bridges and 30% in its control centre. A central park and 2,569 housing units in Al Wafaa District have also been launched. Looking ahead, Oman is preparing for future cities in Muscat and Salalah, with structural plans underway for Muscat, Nizwa, North Batinah and Salalah to ensure planned urban expansion.
