Gulf Construction Online - Asyad floats tenders for mixed-use project

Real Estate

Asyad floats tenders for mixed-use project

01 May 2020

Oman Global Logistics Group (Asyad Group) has invited bids from top firms for the development of a prime land owned by Mwasalat, the sultanate’s public transport services company, in the Azaiba area of the capital Muscat.

Asyad manages a diverse portfolio that includes port management, transportation, shipping, freight forwarding businesses and public services.

One of its key subsidaries is Mwasalat, which is focused on providing public service and investing heavily in strengthening its fleet of buses, taxis and associated infrastructure to modernise public transportation in Oman.

“Asyad (as project promoter) on behalf of Mwasalat (project employer) seeks proposals to select a developer to invest and develop Mwasalat’s Project Site A-1 which is 54,104 sq m prime land in Azaiba,” states the company in its tender notification.

As per the notification, interested parties can submit a proposal to develop a residential, commercial or a mixed-use project on the prime land in the capital.

The project may include retail shops, offices, mall, hypermarket, apartments, hotel, or any other commercial facility, it states.

The contractual agreement with a potential investor and developer will include a design, build, finance, operate and transfer development model.

As per the tender notification, the developer may also lease-out, sub-let or operate the facilities to recover its cost and earn profit over the period of the agreement. The developer may assign the individual facilities to different operators to operate and/or maintain, it says.

According to Asyad, this will also include masterplanning, operation and maintenance of the facility for a four-year term and transfer all the assets to Mwasalat, at the end of the contract term. The deadine for submitting the bids is August 17.