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The Ministry of Housing and Urban Planning, Oman signed 8 partnership and layout development agreements to implement projects of integrated residential neighborhoods in different governorates of Oman. The agreements have an investment value of more than RO 68 million and the projects cover an area of more than 1.7 million square metres. Four of the agreements deal with the implementation of integrated residential neighborhood projects that provide more than 1,300 housing units, equipped with modern facilities that keep pace with the requirements of modern life. These neighborhoods include commercial centres, entertainment facilities and green spaces towards the establishment of vibrant communities that meet the needs of different population groups and enhance sustainability and the quality of life. The integrated residential neighborhood projects are distributed across four wilayats. The project includes the development of an integrated residential neighbourhood in the wilayat of Sur in South A’Sharqiyah Governorate, extending over an area of ??268,000 square metres and comprising 407 residential units. Awarded to Zain Real Property Development Company, the project has an investment value of more than RO 22 million. In A’Dakhiliyah Governorate, an integrated residential neighborhood will be implemented in the Wilayat of Sumail. It covers an area of ??137,000 square metres and it provides 194 housing units, with an investment value exceeding RO 9 million. The project is being developed by Al Tamayuz Services Company. An integrated residential neighborhood will also be established in the Wilayat of Izki over an area of ??109,000 square metres and provides 182 housing units, with an investment value exceeding RO 11 million. The project is being developed by Alnama Real Estate company. In Al Buraimi Governorate, an integrated residential neighborhood is being developed in Al Buraimi Governorate. It covers an area of ??78,000 square metres and comprises 521 housing units, with an investment value exceeding RO 10 million. The project is being carried out by Bin Karam Modern Investment Company. To meet citizens’ needs for land plots within fully-equipped residential schemes, four agreements were signed to implement integrated residential layouts in a number of governorates. The layouts will provide more than 1,000 land plots, along with complete infrastructure, including road, water and electricity networks, in addition to service facilities that enhance the quality of life in these residential communities. The agreements also include the development of an integrated residential layout in the Wilayat of Liwa in North Al Batinah Governorate. The project covers an area of ??592,000 square metres and it provides 515 land plots, with an investment value of RO 5.9 million. The project will be implemented by Sohar Real Estate Development Company. In A’Dakhiliyah Governorate, an integrated housing layout will be implemented in the Wilayat of Bahla. The project overs an area of ??210,000 square metres and it provides 172 land plots. It has an investment value of more than RO 1 million and it is being developed by Alard Real Estate Development Company. In A’Dhahirah Governorate, an integrated housing layout will be implemented in the Wilayat of Ibri. The project covers an area of ??220,000 square metres and it includes 231 land plots, with an investment value of up to RO 1.4 million. The project will be undertaken by Al Iftikhar National Trading Company. In North A’Sharqiyah Governorate, an integrated residential layout is being developed in the Wilayat of Bidiya. The project covers an area of??110,000 square metres and it provides 99 land plots, with an investment value exceeding RO 5 million. The project will be carried out by Al Dhaham Real Estate Company. The signing ceremony saw the launch of four new investment opportunities to develop integrated residential neighborhoods and layouts over an area of more than 1.28 million square metres in the governorates of North Al Batinah, North A’Sharqiyah, Dhofar and South Al Batinah. The opportunities offer hope for investors wishing to contribute to the development of the real estate sector in a bid to enhance the diversification of housing projects and supports sustainable economic development, statement mentioned. |
