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Mon 9 Jul 2012 07:06 PM

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Qatari Diar inks deal for Oman tourism projects

Property developer plans to build luxury hotels, souks, marinas, yacht club, residential units

Qatari Diar inks deal for Oman tourism projects
Oman is keen to grow its tourism sector. (Photo for illustrative purposes only)

Qatari Diar, the property arm of Qatar's sovereign wealth fund, said on Monday it has signed a memorandum of understanding (MoU) with Oman's Ministry of Tourism to develop three mixed-use developments in the sultanate.

The Ras Al Hadd development in the Sur district, which forms part of the latest agreement, will feature a five-star hotel and spa, residential villas, apartments, souks, a marina and villa plots.

The second project will include a five-star luxury resort hotel and spa as well as residential villas and apartments.

The third project will consist of a yacht club and marina, a sports academy, and three boutique hotels, the developer said in a statement.

The deal also establishes a partnership of 70/30 between Qatari Diar and Omani Ministry of Tourism on the three projects, it added.

Qatari Diar Group CEO Mohammed bin Ali Al-Hedfa said: "We are extremely thrilled with the signing of this MoU, which signifies our commitment to investing in the tourism sector of the brotherly state of Oman.

"It is an important country to us, and one full of promises," he added.

Qatari Diar is currently developing or planning 49 projects in 29 countries around the world.

The property firm, whose worldwide portfolio includes 49 projects valued at over $39bn, pushed aggressively into Europe last year, buying the athletes' village in London's Olympic park for $906m along with UK developer Delancey Estates.

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bluemarlin 8 years ago

what's the point of putting up all these hotels and luxuries if there's nothing to see in Oman except for their colored rocks and bald mountains?

Don't they think they should further improve their tourism sector first before putting up all these investments?

I am a frequent traveler and why would i visit or stay in a starred hotel if i will only eat dust?

Qatari 8 years ago

Then stay where ever you stay in your frequent travels.

debbie 8 years ago

this is old news from qatari diar..
oman projects were on hold for years when they first announced it.
old news has been resent as a new press release.

one of the joes 8 years ago

Oman is pretty much the only Arab country in the Gulf where hospitality exists with the people, and not only as a paid for service in a star-ed hotel. And they actually have something to offer in terms of nature that would go beyond a sandy beach.

A few examples, Mussandam, Salalah, the Haja mountains, the Indian ocean, fjords, plus truly nice people that you can meet outside clubs, lounges, hotels, ...

Oman is a place where you can spend a good vacation if you have more needs than shopping malls, luxury hotels and night life. I just hope that Oman is not falling for the style of tourism that consists only of city - hotels enhanced with beach visits.