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 7 November 2002
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Muriya’s twin projects unveiled
Muriya Tourism Development Company (MTDC)’s new projects will add at least eight more hotels in Oman


Dignitaries looking at the design model

Two more prestigious projects, ‘Jebel Sifah’ in the capital governorate and ‘Salalah Beach’ in the southern Dhofar region, are expected to add more lustre to Oman’s burgeoning tourism and real estate sectors. The two integrated tourism complexes, which will comprise a total of 550 villas and 1,200 apartments when the first phase is completed in five years, are taking shape as a result of a public-private sector initiative. Muriya Tourism Development Company (MTDC), the promoters, is 30 per cent owned by the government of the Sultanate and 70 per cent by Egypt’s Orascom Hotels and Development.

The projects, with a combined land bank of over 21 million sq. m. and estimated to cost around US$400 million, have evinced considerable local and foreign investor interest because of their special emphasis on the environment and the success of a similar scheme by Orascom in Egypt, named ‘El Gouna’. Besides villas and apartments, the projects will boast of over four hotels each, world-class marinas and marina towns, 18-hole PGA golf courses, restaurants, and international retail outlets.

The projects were unveiled in November at the elegantly decorated Midan Amphitheatre of Shangri-La’s Barr Al Jissah Resort and Spa at a function presided over by National Economy Minister Ahmed bin Abdulnabi Macki. Dignitaries present on the occasion included royal family members, ministers and a large gathering of prospective buyers from Oman and abroad. Live performances by Arab singing sensation Elissa and the Eftikasat jazz band added a festive note to the occasion.

“The launch takes place when Oman is celebrating its 37th National Day... We are confident the new projects will become major attractions for tourists and investors,” Dr Rajiha bint Abdulameer bin Ali, Minister of Tourism and Chairperson of the Oman Tourism Development Company, said.

Work is already underway in Salalah, while at Sifah, some 60 km south of Muscat, it is due to start at the end of next month. “The properties will provide diversity in architectural style while fully integrating with the Omani culture and adhering to local tastes and traditions,” emphasised Cyril Piaia, CEO of Muriya. “We want to create a real town with community, preserving the Omani heritage. We are not here for a short term.”

He also noted that the company would employ some 1,000 people in Salalah during the construction stage and buy equipment from local contractors. Piaia said Muriya was also finalising plans for two other ‘ambitious projects’ – one a City Complex in Muscat and an ‘Al Sodah Island’, adding that the total initial investment on the four schemes would exceed US$850 million.

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December - 2007

Cover Story

2007 in Retrospect
With its unique highs and lows, 2007 has been perhaps the most eventful year in the history of Oman. Natural disasters, economic resurgence, market liberalisation, new big-ticket projects, meteoric rise in inflation…OER’s special report captures all this, revisiting the important developments that have marked the year that is soon going to give way to 2008

Other Headlines

Stable Outlook
Oman’s stable outlook reflects good financial performance in an improving but challenging operating environment, says Moody’s Investor Service in its report ‘Oman – Banking System Outlook’

Can he do it?
Chiwon Suh, President – Middle East & Africa (MEA), Samsung Electronics want to reach sales revenue of US$10 billion by 2011 in MEA market. Akshay Bhatnagar caught up with him on his flying visit to Muscat to find out what makes him oozing with such confidence

Flying High
Oman Air is rising to the occasion as the Sultanate emerges as the most favoured tourist destination in the region

The Peacenik
Anil Wadhwa, the new Indian Ambassador to Oman, says there is a lot of synergy between the two countries and he will try to reinforce this relationship
Will freedoms translate to growth?
As 2007 draws to a close, Dr Jasim Husain Ali reviews Bahrain’s economic performance in the year gone by
Tackling the Credit Crunch
The dollar peg makes a revaluation of the GCC currencies and a tightening of monetary policy impossible, writes Matein Khalid
LG eyes commercial cooling
H Y Nho, President-Air Conditioning Division of LG Electronics on the company’s plan for Oman’s AC market
A Vote for Women
With its Deputy President, 43 per cent of its Cabinet, more than 30 per cent of its Members of Parliament and 20 of its Ambassadors women, South Africa occupies one of the top spots in world rankings as far as women representation is concerned. South African Ambassador to the Sultanate of Oman, HE Yacoob Abba Omar, explains how this was achieved and the challenges his country still faces in promoting women’s role in society
Making Life Easy
HSBC is aggressively pursuing the under served small and medium enterprise (SME) sector in Oman with its newly formed Business Banking Unit (BBU), says Qamar Saleem, Senior Manager-BBU, HSBC Bank Middle East Limited, in a talk with OER.

Four decades of technology innovation and leadership
Petroleum Development Oman (PDO) showcased its technology prowess in a special Technology Day celebration and Exhibition in November.

AIG forays into Oman
Global insurance leader AIG recently launched its new general insurance operation in Oman. Charles Bouloux, President AIG MEMSA discusses AIG Oman’s ambitious plans with OER
Muriya’s twin projects unveiled
Muriya Tourism Development Company (MTDC)’s new projects will add at least eight more hotels in Oman
Ultimacy
With the onslaught of the CVTs in B and C-Segments, we wondered how the Altima would stand up to the competition in its segment
Chasing one’s dream
Perseverance, diversification and teamwork make up the formula for his success. An MBA graduate hailing from Kerala, Ameer Ahmed, Group Managing Director of Teejan Group speaks to Jayashankar Menon
Leading Transformation
A powerful transformation story depends on the CEO’s willingness to make the transformation personal, to engage others openly and to spotlight successes as they emerge, write Carolyn B. Aiken and Scott P. Keller
An Outstanding Truth
Infoline, the leading IT and ITES (IT Enabled Service) provider, brings Robin Speculand, the master at strategy implementation, back in town, with a highly interactive and stimulating workshop on Implementing Strategy successfully
Passionate Photographer
Khalid Hamed Al Kharousi, Branding and Marketing Communication Manager for Oman Mobile Telecommunications LLC talks about his profession and passion to OER
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