Oman: Omagine

Developer Omagine has signed a deal with the government to design, develop, own and operate a $2.5bn tourism and real estate project on the outskirts of Muscat, according to a company statement. Omagine LLC is 60% owned by New York-based Omagine Inc, with the remainder owned by the office of Royal Court Affairs (25%) and two subsidiaries of Consolidated Contractors Company (10% CCC-Panama and 5% CCC-Oman). The project will include a “high-culture theme park containing seven pearl-shaped buildings”, exhibition buildings, a boardwalk, an open-air amphitheatre, a canal, a marina area, shops and restaurants, hotels, office buildings and around 2,000 residences.