Omagine

Company has signed a Development Agreement with the Government of the Sultanate of Oman. Omagine Owns 60%; Sultanate Owns 25%; Consolidated Contractors Owns 15%. Project to be developed on 245 acres of beach front land on Gulf of Oman. The estimated cost approximately $2.5 Billion. BNP Paribas To Lead Construction Financing Syndicate.

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Re: Curious

Omagine

about 10 years ago

in response to qwerty1029's message

Dear qwerty1029,

The Company responded by saying that the Wave project was first begun some time in 2004/2005 and before there was a Ministry of Tourism in Oman. It was 100% owned by Muscat Municipality until late 2006 when Muscat Municipality entered into a j.v. with a Dubai based real estate developer – Majid Al-Futtaim. Other than these historical data on the Wave project, management has no further comment.

Regards,

AGORACOM