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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 |
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Cover Story |
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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 |
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Other Headlines |
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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 |
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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. |
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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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Regulars |
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