An integrated city at Al Rusail with 44 stores, staff housing and administrative offices with all equipment expected to be ready within 10 months, completion of the third and fourth towers in Al-Arfan neighbourhood, 128 housing units and 76 offices within the Al-Muhallab project in Al-Ansab are the projects that will come into being after the agreement were signed yesterday.
According to Dr Khalid bin Salem al Mata’ani, the Chairman of BBH, the aim is to build 2,000 units annually and shortly the students’ residences.
BBH, one of the real estate developers in the Sultanate, signed four agreements for the construction of projects in the real estate and logistics sector with an investment of about RO 40 million.
Dr Khalid bin Salem al Mata’ani, Chairman of BBH, who signed the agreements on behalf of the company, said that the projects are residential units, warehouses and offices distributed on Muscat Governorate for ownership.
The first agreement relates to the construction of an integrated logistic city along the Rusail on an area of 56 thousand square meters, including 44 warehouses, each one of them in an area of a thousand square meters, in addition to housing for workers from 166 rooms, administrative offices, a meeting room, a small market. The value of the investment in this project amounts to RO 20 million,the construction work is expected to be completed in 10 months period from the start date.
He said that the logistics city is characterised by its location at the intersection of the interior governorates and Muscat highway, where basic infrastructure will be available, including streets, electricity, water services, communications and sewage network. The prices of warehouse units are suitable for those wishing to invest in this type of projects. In the province of Muscat, especially as it will be integrated with management and employee’s offices.
The warehouse price is RO 280,000, which guarantees an annual return of about 14 per cent, making a safe investment at a low cost, in addition to 10 stores that will be ready in four months from now. Indicating the existence of two types of stores refrigerated and other without cooling.
He further added, “The project is executed by two companies to ensure speed in completion and delivery of units in quick times. There is an agreement with some commercial banks operating in the Sultanate to facilitate financing, upon demand for those wishing to purchase.”
Al Mata’ani explained that the aim of the project is to provide ready and fully equipped warehouses to store food and medical supplies in an appropriate health environment, while constructing other ones for use as industrial workshops.
The second agreement, signed by the company, relates to the second phase of the integrated residential city project, BBH, in Al-Arfan City, after the company announced the first and second towers.
The project will be completed by the third and fourth towers to provide 220 units of varying sizes with 55 units in each tower as well as the establishment of a shopping centre serving the residential units and other recreational facilities including the establishment of hanging gardens palm trees, as well as swimming pools, gym centres and kindergartens. The residential units are constructed in varying sizes on four dimensions of 75 metres, 105 metres, 115 metres and 225 metres. The investment cost of the second phase is about RO 10 million.
The third agreement is for the construction of two towers for residential units and a tower for offices in Al-Ansab area along the Muscat Highway, consisting of two residential towers and a third office tower.
The project will provide 128 housing units with 64 units in each building ranging from 44 meters to 110 meters. The office building comprises 76 offices on 9 floors. The investment in the project is estimated at RO 10 million and will be ready within 15 months.
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