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October 8, 2014

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

Revpar in London hotels grew by 20.9% in the week ending 29 April, according to figures from hotel benchmarking service The Bench. Revpar rose to £125.80, and compares with £104.06 during the equivalent week last year. Occupancy rose to 90.1% by 1.7% while average room rate increased by

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
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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.

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Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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