Hussain Sajwani, Chairman of DAMAC Properties has signed a Memorandum of Understanding with government officials in order to redevelop Port Sultan Qaboos into a tourist destination with the supervision of Omran, the Oman Tourism Development Company.
The port was originally built in 1975 and was used for commercial shipping. Now it’s going to include hotels, residences, shops, and restaurants. “As part of its commitment to the project, DAMAC will contribute to the local road infrastructure, improving opportunities for local SMEs and Omani nationals, as well as enhancing the economic and social standing of the community as a whole,” Sajwani said.
Dr. Ali Al Sunaidy, the Deputy Chairman of the Supreme Council for Planning, mentioned in a press release the $1 billion project is part of the plan of diversifying Oman’s economy from oil, thus boosting investments in tourism, real estate and leisure in the area.
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