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PPP pact signing today for mixed-use development at Taqah fishery harbour

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Conrad Prabhu -
MuscaT, JAN 23 -
Oman’s Ministry of Agriculture and Fisheries will sign today a landmark Public-Private-Partnership (PPP) pact with a leading Omani real estate developer that will result in the partial transformation of the Taqah fish harbour in Dhofar Governorate into a tourism and leisure destination as well.
Under the agreement, the Ministry will lease part of the waterfront overlooking the fish harbour to Al Madina Taqah, a wholly owned project company of Al Madina Real Estate Company — a well-established developer of prestigious shopping, retail, hospitality and tourism projects — for its development into a mixed-used property.
The lease agreement will be signed against the backdrop of the ‘Agriculture, Fisheries and Food Investment Forum’ which concludes at the Oman Convention & Exhibition Centre today, Thursday.
Speaking to the Observer, Eng Abdulrehman Awadh Barham (pictured), CEO — Al Madina Real Estate Company, said Al Madina Taqah project is set to be the latest addition to the company’s expanding portfolio of real estate developments in the Sultanate.
“As Master Developer, Al Madina will develop this site at Taqah into a mixed-use property.
We will add some tourist elements to the fish harbour by developing, for example, a marina for leisure boats, among other tourism related facilities.
There will be restaurants and a boulevard to attract crowds to enjoy fresh local food, as well as the waterfront ambience.”
Also envisioned are investments in integrated fisheries related activities and support services, including fuel bunkering, ice-making, fresh fish marketing, and so on, said the CEO. “In addition to a commercial complex, there will be fisheries industrial zone anchored by an outstanding fishing boat manufacturing factory designed in line with the Ministry’s strategy to develop traditional fishing.
Waste from fish processing plants on site will be converted into feed, and so on.” Investor interest in the proposed mixed-use development has been positive, said the CEO, noting that the scheme is expected to pull in investments to the tune of around $100 million over the first 10 years.
For its part, Al Madina will invest in an administrative building and other facilities which will be provided to the Ministry of Agriculture and Fisheries in line with terms of the PPP model underpinning the lease agreements. Additionally, the master developer will provide an ice factory, fish market and other facilities in the first phase of the project’s implementation.
Located just 20 km from Salalah City, the Al Madina Taqah project will also exploit its proximity to the sprawling Salalah Beach Integrated Tourism Complex located next door, according to the CEO. “We believe that the project is a natural expansion of Salalah into this area,” he remarked.



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