Deal inked for RO 256m tourism complex in Barka

992726By Business Reporter — MUSCAT: APRIL 24 – The Ministry of Tourism (MoT) yesterday signed an agreement with the Palm’s Beach Company to develop the RO 256 million worth Al Nakheel Integrated Tourism Complex (ITC) at Barka. The development agreement was signed by Ahmed bin Nasser bin Hamad al Mehrzi, Minister of Tourism, and Hussain Jawad, Chairman of the Board of Directors of Palm’s Beach Company and of Alargan Towell Investment Company, the primary investor of the project.
The signing ceremony was held at the General Diwan of the Ministry and was attended by Eng Khaled al Mashaan, CEO and Vice Chairman of the Board of Directors of Alargan International Real Estate Company based in Kuwait, Eng Hisham Moussa, CEO of Alargan Towell Investment Company, and Mohammed bin Moosa al Abri, General Manager of Palm’s Beach Company, as well as a number of senior officials from the MoT.
992727Al Mehrzi said, “signing the agreement is a direct translation of the role the private sector is playing in the implementation of the Sultanate’s tourism strategy of 2040.”
Hussain Jawad, on the other hand said, “Al Nakheel project will become one of the most prominent tourism and real estate projects at a regional level.”
The development includes three hotels, hotel apartments, 1,436 residential units, a shopping mall, a traditional souq, an international school, restaurants, an aqua water park, and other entertainment and service facilities.
The project is characterised by its prominent position in the Wilayat of Barka as well as its waterfront location overlooking the Sea of Oman and a Crystal Lagoon which will be built at the centre of the project on an area of 51,000 square metres.