ArabianBusiness.com - Middle East Business News
Wednesday, 03 December 2008 04:57 UAE time

YOUR DIRECTORY /

Print this page Print this page | Email this to a friend Email this to a friend | Discuss this article (0 Comments) |

ETA Star plans $1bn Muscat project

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Monday, 08 September 2008
JOINT VENTURE: ETA Star is teaming up with Oman Holding International to build a $1 billion project in Muscat (pictured). (Getty Images)

Dubai-based ETA Star Properties plans to build a 400 million rial ($1.04 billion) development in Muscat in a joint venture with a local firm, a project official said on Monday.

"It is going to be a 50-50 percent joint venture with Oman Holding International to build the properties. The flats and villas for sale will be sold to both local and international investors," Maqbool Hameed alSaleh, OHI chairman, told newswire Reuters.

The 1,000 unit project including residential, office and retail space, would take 30 months to complete and is located in the centre of the Omani capital, he added.

Story continues below
advertisement

ETA Star Property is currently developing over 30 million square feet of property around the Middle East and Asia, including in the United Arab Emirates, India, Sri Lanka, Pakistan and Turkey. (Reuters)

Print Print | Email Email | Discuss this article |


READERS' COMMENTS



Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Security Code * Code


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

more » MIDDLE EAST MARKETS DATA

OHII.MSM

Last Price:

0.29

0.000.00%

19 Nov 2008 08:12 GMT
(Market Closed)

CURRENCY CONVERTOR

RELATED LINKS

  1. ETA Star Property Developers L.L.C.»

 EMAIL ALERTS

  1. ETA Star Property Developers L.L.C.

  2. Oman Holding International

  3. Real Estate



EMIRATES ID DOWNLOAD

READER COMMENTS

  1. Nakheel mulls $15bn IPO move - reports 2
    02 Dec ' 08 at 11:25
    In my view, this about-turn is really making things worse. First they're not affected. Woohoo we're building the world's tallest...  More »
  2. Negative equity, defaults 'now a Dubai reality' 1
    02 Dec ' 08 at 12:02
    I have purchased off plan villas and now I am in negative equity. But I dont need to run. I just refused to pay developer any further...  More »
Read all user comments >

BUSINESS FEATURES

The Russia route

Rajiv Shah went along to find out if the nation looks set to become the next big arena for property investors.

Caught in the trap

With repossessions looming large on the horizon, Alex Delmar-Morgan reports on what the banks need to do.

Prestige properties

Get ready for major communities dedicated to well-being as the region steps on the pampering pedal.

BUSINESS INTERVIEWS

Strength in numbers

Property prices are declining but Mark Stott, CEO of Select Property, is still feeling confident in his company.

Real estate industry at the crossroads

The regional head of the world's largest property services firm on the outlook for local property markets.

Berth boom

Michael Horrigan of IGY Middle East and Europe explains why it's plain sailing for marina developments.

MORE FROM ARABIANBUSINESS.COM