Deal inked for $1bn waterfront project

Staff Reporter –
MUSCAT, June 21 –
Oman Tourism Development Company (Omran) has partnered with Dubai-based DAMAC International for the redevelopment of the historic Port Sultan Qaboos into a world-class, waterfront mix use destination.
‘Mina Sultan Qaboos Waterfront’ is being redeveloped into a $1 billion integrated tourist port and lifestyle destination that includes hotels, residences, as well as a dining, retail, leisure and community facilities that is set to make it amongst the
top waterfront destinations in the region.
A memorandum of understanding was signed in the presence of Dr Ali bin Masoud al Sunaidy, Chairman of Omran and other dignitaries.
Dr Al Sunaidy said, “Mina Sultan Qaboos is based in the 200-year-old historical centre of commerce in Muscat and is the most visited tourist destination in Oman. The redevelopment of the port by Omran will build renewed interest and focus to the area, while creating a strong investment proposition for the tourism, real estate and leisure industries.”
The transformation of Mina Sultan Qaboos into a thriving economic and tourist hub stems from His Majesty’s vision to move the port’s commercial activity to Port Suhar, paving the way for the redevelopment of the port into an integrated tourist hub.