Oman signs deal with Omagine for $2.5bn mixed-use development

8 October 2014 (Last Updated October 8th, 2014 18:30)

The Government of the Sultanate of Oman has signed a deal with Omagine for the development of a $2.5bn Omagine project in the sultanate,which would serve as a tourism and real-estate development.

Oman_Project

The Government of the Sultanate of Oman has signed a deal with Omagine for the development of a $2.5bn Omagine project in the sultanate,which would serve as a tourism and real-estate development.

Omagine president Frank J Drohan said: "We are tremendously pleased with today's signing of the development agreement and are anxious to now begin the development of the Omagine project."

"Our mission is to develop, own and operate innovative tourism projects [with] culturally aware, historically faithful and scientifically accurate entertainment."

To be built on one million m² of beachfront land, the Omagine project will include hotels, commercial buildings, retail establishments and more than two thousand residences.

The most important design feature of the project will be a chain of seven pearl-shaped buildings that will run along the promenade and be used to house exhibitions, performances, arts and crafts displays, and learning centres.

"Our mission is to develop, own and operate innovative tourism projects with components that are thematically imbued with culturally aware, historically faithful and scientifically accurate entertainment experiences.

"We design the tourism elements to provide modern, stylish and entertaining experiences while highlighting the world's great cultures, art, music, heritage, science and philosophy. We expect the Omagine project to be the archetype for our future projects in the Middle East and North Africa."


Image: An artist's impression of the Omagine project at the Seeb beachfront in Oman. Photo: courtesy of Omagine.