Muscat: Sayyid Khalid bin Hilal bin Saud al Busaidi, Minister of the Diwan of Royal Court, will laid the foundation stone for the development of the smart city Madinat al Irfan, the upcoming smart city of Oman.
It may be noted that Oman Tourism Development Company (Omran) and Majid al Futtaim recently announced a strategic partnership to develop the western area of
Madinat al Irfan.
The joint venture will see the development of a vibrant mixed-use community that will serve as the new urban centre for Muscat.
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Madinat al Irfan is the Sultanate’s largest urban development project and is set to contribute to Oman Vision 2040.The eastern area currently being developed by Omran sits alongside Wadi Park just minutes from the newly opened Muscat International Airport. It is a multi-use district adjoining the Oman Convention & Exhibition Centre (OCEC), a world- class venue for international conferences, trade shows and concerts.
The new mixed-use community is located at the western area of Madinat Al Irfan and spans over 4.5 million sqm. The joint venture project investment value is estimated at RO5 billion over a period of 20 years and is anticipated to create more than 30,000 direct and indirect jobs in the country.
Centrally located in Muscat’s urban corridor, the development will become the gateway to Oman; creating a modern downtown for residents, businesses and visitors.
Madinat al Irfan is poised to be a catalyst for change in Oman, and once completed, will set new benchmarks in sustainability and urban design. Majid Al Futtaim will be responsible for managing the development of all assets as part of the western area of Madinat Al Irfan, cementing its position as a leading community developer in the Sultanate, and unlocking further investment and expansion opportunities. The first phase of the project, scheduled for completion by 2023, will see investment in land infrastructure that will enable the development of mixed-use components.
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