Oman launches the Wave resort development
Oman's largest tourism development to date has been launched to the international press and has been named the Wave. Stretching along 7.3 kilometers of beachfront just west of Muscat and occupying 195 hectares, the $805 million resort project is ready for development.
With the Sultanate of Oman contributing the original land and part of the equity, domestic and international investors are invited to join forces with the government. For the first stage, a projected total of $82 million will be invested to reclaim some 400,000 square meters of land, develop the infrastructure and build a golf course, marina and yacht club.
In the second stage, developers will invest $485 million to construct the hotels, villas, apartments, restaurants, shops and leisure centers for an exclusive resort with a final value of $805 million.
Another attraction will be a Beach and Sports Resort with a center for scuba diving and water sports. At the eastern end of the Wave, a public beach and a woman's beach will be developed by OTDC in association with Muscat Municipality. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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