Gateway to opportunity

Just last week, the great and the good of Muscat society gathered at a glitzy relaunch party for one of the Gulf's most exclusive perfumes. As fireworks painted the night sky high above the five-star Shangri-La Hotel, the evening could not have acted as a better advert for Oman's resurgence.

"We think of our perfume as an exquisitely bottled roving ambassador for Oman," says David Crickmore, the chief executive of Amouage, the country's premier luxury brand.

That night marked the re-emergence of a niche high-end product with a large and loyal following in the Arab world, taking its first tentative steps into the international market. And as a symbol of the country itself, the analogy is not lost on the man tasked to take it there.

"It's a niche brand and in a way Oman is almost a niche brand," he continues. "It's small and beautifully put together, as an expression of the spirit of Oman.

"We are a national treasure, and the only national brand."

Although there are no public figures available for the private company, backed by the Omani royal family, it is thought to have doubled its turnover last year, and by 2012 aims to be turning over something in the region of US$40m a year. The luxury goods sector is thriving, alongside many other elements within Oman's business community. Take a look at plans for major new property developments, for example, and it is clear that expectations are high. It may not compare with the construction explosion currently taking place in neighbouring Dubai, but in a country with a population of 3,204,897 (including 577,293 non-nationals) it is significant and an indication of a bright future, as investors clearly perceive Oman as a growth area.

The sales campaign for the US$20bn Blue City development begins in earnest this month - 32 sq km of real estate designed to create homes for 250,000 people. Al Sawadi Investment and Tourism (ASIT) announced plans for the sale of freehold property in September, supported by legislation recognising inheritance laws from the purchasers' country of origin. All these moves are part of the country's drive to attract foreign investment and tourism.

Construction on the Blue City project - also known as Al Madina A'Zarqa - the largest development in Oman, has already begun. Its importance to the country's development is hugely significant, according to ASIT chairman Anees Issa Al Zadjali.

"Oman is a country of outstanding natural and cultural beauty and Omani culture continues to be well preserved within the sultanate. Al Madina A'Zarqa is not just another resort or development, but will be a self-sustaining city designed to be sensitive to the culture and traditions of Oman and the needs of its people," he says. "We are creating a city which will take Oman into the next century. The project will serve as a growth engine for the sultanate, supporting Oman's drive to diversify its economy and attract non-traditional business, commerce and tourism to the Gulf state.

"The dynamics of the project and its importance to Oman cannot be overestimated," he continues. "Extensive research has been undertaken to find organisations and entities that share the vision of creating a harmonious community on one of the most beautiful natural coastlines in the region. Our master-planning and architectural designs have been focused on delivering a modern essence of Arabia which builds on our strong Omani heritage and history, but does not compromise on modernity and quality," adds Al Zadjali.

"Together these factors will distinguish the project and provide a unique set of highly appealing characteristics which we believe will be very attractive to buyers from across the world, as well as from Oman and the Middle East itself. It is being designed as a fully integrated live-in community and has a wider role as an important part of Oman's aims to be the pre-eminent tourism destination for the Middle East," he concludes. "We are creating a city which will take Oman into the next century, providing not just homes, but new jobs, new industries and a legacy for the future." The Wave, a US$805m project combining upscale living with a luxury tourist resort, is further proof of the Omani government's commitment to the development of the real estate sector.

The sultanate itself contributed the land and part of the equity for the project, which it hopes will become a major attraction. A five-star, 200-room spa and hotel, an 18-hole golf course designed by Greg Norman, 505 premium villas, 850 apartments plus restaurants and shops are just part of ambitious plans for the development.