Qatari Diar to develop three mixed-use projects in Oman

9 July 2012 (Last Updated July 9th, 2012 18:30)

Qatari Diar Real Estate Investment Company has signed a memorandum of understanding (MoU) with the Omani Ministry of Tourism to develop three mixed-use projects in the country.

Qatari Diar Real Estate Investment Company has signed a memorandum of understanding (MoU) with the Omani Ministry of Tourism to develop three mixed-use projects in the country.

Under the deal the company will finance and construct a mixed-use property at Ras Al Hadd in Oman’s Sur district which will feature a hotel and spa, residential villas, apartments, souks, a marina and villa plots.

The 2 million m² development will also feature holiday chalets, a coastal entertainment and sports club, restaurants and cafes, a yacht club, fisherman’s wharf, ferry terminal, and waterfront amphitheatre.

Previously, Qatari Diar had signed a preliminary agreement with Omani Ministry of Tourism to finance and construct a mixed-use property at Ras Al Hadd in the Sur district.

"The MoU establishes a 70/30 partnership between Qatari Diar and Omani Ministry of Tourism on the three projects."

The second development will include a luxury resort hotel and spa as well as residential villas and apartments.

The third project will feature a yacht club and marina, a sports academy, and three boutique hotels.

Qatari Diar said that the MoU also establishes a 70/30 partnership between the firm and Omani Ministry of Tourism on the three projects.

Currently, Qatari Diar is developing or planning 49 projects in 29 countries around the world valued at more than $39bn.