Gulf Construction Online - $2bn Omani waterfront project to break ground

Real Estate

Mina Al Sultan Qaboos Waterfront will be developed into an integrated tourist port and lifestyle destination.

$2bn Omani waterfront project to break ground

01 August 2019

Leading UAE developer Damac will break ground in November on Mina Al Sultan Qaboos, a $2-billion modern waterfront destination being developed in a joint venture with Oman Tourism Development Company (Omran).

Omran, the government’s investment, growth and development arm, says the move comes following the completion of several preparatory activities. The prequalification for the main construction packages has been completed and companies have been shortlisted to carry out various aspects of the project.

More than 100 companies have shown interest in the various key construction and installation packages. The first package was expected to be tendered last month (July) and construction activities on the project site are set to begin in November.

A number of studies have been conducted in the areas surrounding the project to ensure that the development is sustainable.

The Damac-Omran joint venture has the mandate to redevelop Mina Al Sultan Qaboos Waterfront into an integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail and leisure offering.

The transformation of the historical Mina Al Sultan Qaboos waterfront area is progressing rapidly in accordance with the masterplan that has been approved by the Ministry of Tourism and Ministry of Housing in Oman.

The Dubai developer says the MoU and shareholders agreement for the project have been signed, and final discussions with concerned ministries regarding the project development agreement are under way.

Meanwhile, work on the Discovery Centre located at the Al Inshirah plot of the Muttrah corniche, is nearing completion and will be opened to the public in the third quarter of 2019.

Along with exceptional views of the Muttrah Corniche and Gulf of Oman, the centre will have an Omani art gallery as a tribute to the rich cultural influences of this historically significant location. The centre will also feature a popular Omani seafood restaurant.

An experienced Omani firm has been appointed for the management and maintenance of the Discovery Centre, wherein visitors will be able to see the project masterplan and get a sense of the residential developments through the show flats that will be on display.

Since the project involves regeneration of an existing port, the project teams coordinated with 22 existing tenants (both government and private entities), and following discussion, six of them were identified and relocated from the project site to other suitable places, says Damac.

Work has been completed on the clearing of the site, and rerouting of services and utilities away from the development path, it adds.