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Fri 26 Sep 2014 10:13 AM

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Oman mega project fast-tracks home sales amid strong demand

Saraya Bandar Jissah says reassessing goals for remainder of 2014 after successful first release of residential units

Oman mega project fast-tracks home sales amid strong demand

Saraya Bandar Jissah, the company developing Oman's newest Integrated Tourism Complex, has offered more residential units for sale ahead of schedule following a positive response from investors to the first release of homes last week.

Located on the outskirts of Muscat, nestled between the Al Hajar Mountains, the Saraya Bandar Jissah development is a joint venture between Saraya Oman and the Government of the Sultanate of Oman's tourism development and investment company, Omran.

Sheikh Hamood bin Sultan Al Hosni, CEO of Saraya Bandar Jissah, said he had been "pleasantly surprised by the huge demand for properties and interest in the project".

"In fact we have reassessed our goals for the remainder of 2014 and immediately released more stock to the market," he added in a statement.

"Properties have already been snapped up by owners and investors due to the desirable characteristics, idyllic location and investment potential offered by the development," he said.

The first residential zone to enter the market - Zaha - offers a mix of three and four bedroom villas, three bedroom duplexes and two bedroom apartments.

The Saraya Bandar Jissah development comprises 398 villas, townhouses, duplexes and apartments which are spread across five residential zones - Safa, Na'eem, Zaha, Nameer and Wajd.

The destination is being built on 2.2mn sq m of land with an expansive beachfront and a high point of 250m above sea level.

Scheduled for a grand opening in 2017, two hotels form the major leisure components of Saraya Bandar Jissah.

Earlier this month, Saraya Bandar Jissah announced that it has awarded the construction contract for the Zaha zone.

The appointment of Towell Construction & Co for the construction of Zaha marks the next development phase of the project following the awarding of the infrastructure and two hotel contracts.

A total of 169 properties are planned to be ready for occupation by 2016.

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