Qatari Diar agrees deal
Issue 981
- 14 Nov 2014
| 1 minute read
Oman has signed an OR250m ($649m) tourism deal with Qatari Diar, which will see the Qatar Investment Authority (QIA)’s real estate company develop Ras Al-Hadd in Al-Sharqiyah South. The development stretches over 1.848m square metres. Under the terms of the deal, Qatari Diar will own 70% of the development, and the Oman Tourism Development Company the other 30%, according to Oman’s state news agency. The development will include tourist resorts, housing units and recreational facilities. The first stage, to include an 100-room five star hotel, 50 hotel villas, 150 residential villas and retail areas is due to be completed in 2018. The second stage includes another hotel, a wildlife centre and another 196 residential villas.
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