Oman calls for financial advisors on Seeb seafront project
01 July 2003
Oman has invited proposals from firms to act as financial and marketing advisor on its plans to develop the Seeb seafront in Muscat into a tourism and commercial area.
The project is expected to cost up to $1 billion. The government is setting up a holding company - named the Oman Tourism Development Company - to enter into a joint venture with a private firm or consortium to develop the area.
The advisor is expected to develop a strategy to manage the bidding process that will select the private partner. The scope of work includes preparation and evaluation of tender documents and completion of final project agreements.
The government says it has already carried out a pre-feasibility study on the project.
The area occupies more than 3 million sq m on a 7 sq km stretch of the Muscat coast. It envisages a seaside town resort with a golf course, hotels, a beach with bungalows, a water park and spas, a choice of residential units ranging from apartments to exclusive villas, a shopping centre, a business district, public parks, piazzas, a world bazaar with country pavilions, and a large marina forming the leisure and urban focus of the town.
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