MUSCAT, APRIL 7
A prime parcel of real estate that once housed the erstwhile Oman International Exhibition Centre alongside the Golden Tulip Hotel Muscat – landmarks of the capital city’s recent past – is being prepped to house the iconic Oman Business Gateway project.
Earlier this week, authorities overseeing the procurement of the landmark project via the Public Private Partnership (PPP) route announced a 3-week-long extension in the deadline for the submission of documents from interested developers seeking to prequalify for the competitive procurement process. The submission date has now been deferred to April 22, 2024, as opposed to the previous deadline of April 1, 2024.
The successful proponent will receive usufruct rights to a 215,000 m2 plot for the development of a new mixed-used, commercially-focused precinct, suitably dubbed the ‘Oman Business Gateway’. At the heart of the development is the new headquarters of the Ministry of Commerce, Industry and Investment Promotion (MoCIIP). Other elements envisaged for inclusion in the complex are a hotel, and apartment block with office and retail elements.
As with all PPP-based projects, the Ministry of Finance is overseeing the procurement process governing the Business Gateway project, in collaboration with the MoCIIP.
The competitive process will lead to the award of a mandate to the successful proponent for the design, financing, development and operation of a world-class precinct. The developer will also own and operate the entire hub for the duration of the usufruct agreement expected to span a 50 – 99 year timeframe.
One of the first tasks of the successful developer is to clear the site of all existing structures that once dominated the surrounding area long before Airport Heights was established as an upscale district of the capital city. The most notable is a cavernous hall that served as the epicenter of events and exhibitions in the city before the sumptuous Oman Convention & Exhibition Centre (OCEC) was created as a new flagship for MICE business tourism at nearby Madinat Al Irfan. Besides, an adjoining multi-level structure that hosted a wholly government-owned four-star property is also set to be demolished.
Assisting the Ministry of Finance and MoCIIP during the initial RfQ and RfP stages of the evaluation process will be a technical team comprising both architects and engineers. The technical team will advise MoCIIP and MoF on the suitability and buildability of the proposed designs. Post the RFP stage, MoCIIP will be responsible for the approval of the detailed design, and may retain advisors as it sees fit.
As part of the project due diligence, a number of detailed financial and feasibility studies have been developed, details of which will be shared to the shortlisted proponents during the RfP stage, according to the project advisors.
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