Omagine

MUSCAT — The Ministry of Tourism and Omagine — a US-Omani joint stock company — signed an agreement on the development, design, operation and possession of a development, tourist entertainment and real estate project named as Omagine Project on an area of one million square meters in the Governorate of Muscat, in the framework of the government’s efforts to develop the tourism sector in the Sultanate and the provision of accommodation and specialized recreational facilities to keep pace with the increasing growth in tourist traffic to the Sultanate.

The project is a major investment tourism projects that will be implemented by investment partnership between investors from within and outside the Sultanate, in the belief of the importance of attracting investment in the tourism sector, especially in the value-added projects, as the project reflects the tourism, heritage, recreational and residential dimensions , including the building of international hotels, shopping malls and retail shops, in addition to residential units that will be built and put up for sale.
The project included, along with residential units, the construction of a 5-star hotel and another 4-star, and the open theatre, apartments, villas, a small marina, restaurants and other associated services.

Journey Of Light Company in the United States contributes to Omagine Company with 60 percent of the project’s shares, the Royal Court Affairs with 25 percent, and two subsidiaries of the Union Contracting Company with 15 percent.

Ahmed bin Nasser al Mahrzi, Minister of Tourism, said that “Omagine” tourist project is one of the major tourism projects that will be implemented in the Governorate of Muscat He added that this project is one of the leading investment projects carried out in Omani-foreign partnership and aims to employ cultural and heritage tourism.

Source: http://main.omanobserver.om/pact-signed-for-integrated-tourism-complex-in-muscat/