The Wave, Muscat’s First Villa Launch In Two Years Reinforces Oman’s Real Estate Fundamentals
The Wave, Muscat is set to launch its first new villa product in nearly two years, a first of-its-kind design previously not offered in the Project and which has been developed in response to customer feedback.
The emphasis in the new design is efficient living space and added lifestyle community features such as mature green landscaping and garden walkways that connect residents through spacious parkland areas to the beach and recreational facilities.
David Stafford, Vice President of Sales and Marketing at The Wave, Muscat said, "There has been significant interest in the new designs from the local market since we first advertised the release but we are also seeing a number of new buyers from outside of Oman attracted by the country's strong development fundamentals and the advantages of buying in an ITC project."
"The stability in Oman's real estate market has not escaped savvy investors from across the GCC region including investment funds which are attracted to the diversity of the economy and strength of the property fundamentals."
"The new villa design offers buyers various competitive price points and alternative sizes in line with market expectations. This latest release follows the successful launch of the new apartment and townhouse designs earlier this year, when 95% of properties were sold out in the first month of release."
Stafford added, "With increased maturity of the ITC market in the last two years coupled with the shift from speculators to end-users, The Wave Muscat continues to experience strong demand for high quality residential properties. Our vision to deliver a fully master-planned sustainable community and world-class tourism destination is progressing at a remarkable rate with the Greg Norman designed golf course and phase 1 of the 400 berth marina due for handover next year."
The release of the purpose designed Al Mowj villas is a new milestone in achieving this vision and the interest in the product is testimony to the demand in Muscat for high quality residential units in the new strategic development area of the capital."
A total of seventy villas will be released comprising a range of unique floor plans with either garden, water or park views. The innovative designs increase usability of space while maintaining The Wave, Muscat's industry benchmark of class leading interior and exterior finishes.
The villas also feature spacious off-street parking and garden walkways and a central community swimming pool and recreational area ideal for families. The marina and upcoming Retail Village are also located within easy walking distance of this release.
A total of thirty six townhouses will also be introduced to the market in the Luban and Acacia Block of Al Marsa Village in the marina precinct.
Over the next twelve months, The Wave Muscat will hand over a number of its core lifestyle and tourism offerings, including the Sultanate's first 18-hole PGA standard Greg Norman golf course, 400 berth Marina and phase one of the Retail Village, adding new dimensions to residential living within The Wave, Muscat's growing and dynamic community.
To date over 1,000 properties have been sold and more than 450 delivered with more than 300 families already calling The Wave, Muscat home.