Renaissance Services has awarded contracts worth more than OMR57m ($150m) for the development of the first phase of the project, permanent accommodation for contractors (PAC), in the Duqm special economic zone (SEZAD) in Oman.
The company has selected four local contractors to build the facility, which will have 16,000 beds for workers.
Design work on the PAC facility was carried-out by PWA in association with local partner, Centre Point Engineering Consultancy.
Renaissance had previously awarded contracts to Deebaj for excavation and earth works, and another contract to International Piling Experts / Geosol joint venture for piling works.
Now, the company has awarded two of the four main construction packages to Al Hajiry Trading (package 3A) and Services & Trade Company (package 3B); the work will be shared equally and is expected to be completed in two years.
The remaining construction packages for sewage treatment plant and electrical works worth OMR12m ($31.2m) will be tendered later this year.
Renaissance Services CEO Stephen Thomas said the company has run a professional, fair and transparent competitive tender process for all of the packages awarded so far.
"SEZAD has created a platform of opportunity for a private sector company like ours to make this large-scale investment in Duqm," Thomas said.
"The Duqm project shall be our largest single investment to date. With this and other investments planned, by the time the project is completed in 2016 we shall own over $2.4bn of assets. While we also continue to grow abroad, we have the full backing of the Renaissance board to invest in developing major assets in Oman."