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FinancialNews
24-06-17
Damac Properties to invest USD1bln in Oman's waterfront
(MENAFN) Dubai's second-larget developer, Damac Properties said it signed an agreement with Oman to develop a port in the country's capital city Muscat as a tourism destination.
The Emirati developer confirmed it signed a memorandum of understanding (MOU) with Oman's Tourism Development Company (Omran) to develop Port Sultan Qaboos.
As Omran is planning to transform the port into a $1 billion tourism and lifestyle destination called Mina Sultan Qaboos Waterfront, which will include hotels and residential housing.
However, Mina Sultan Qaboos Waterfront is in the Muttrah area of Muscat, site of a 200-year-old marketplace that is one of Oman's most visited tourist destinations.
MENAFN2406201700450000ID1095578103
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