$1bn Oman resort projects revealed

HOTEL PLANS: for Muscat and the southern Oman region have been revealed. (Getty Images)

Oman's Muriya, a subsidiary of Egyptian tourism group Orascom Development Holding, has signed initial agreements with international chains to build hotels in the Gulf state, its chief executive said on Tuesday.

"We signed letters of intent to build hotels in our resorts with Rotana Hotels, Germany's Movenpick, Club Med of France and Four Seasons," Cyril Piaia, the CEO of Muriya Tourism Development told Reuters. "We are also talking to Radisson Group."

The company is building three resorts in Oman at a cost of about $1 billion.

The projects in the capital and the southern region including two golf courses and a property which would be offered to foreign investors.

Oman attracted about 650,000 tourists in 2007, 12 percent more than a year earlier, according to tourism ministry statistics. (Reuters)

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