Orascom to invest in Oman's real estate market

 

 

Source:http://www.menafn.com/qn_news_story_s.asp?storyid=1093169814

(MENAFN) The chairman of Cairo-based real estate conglomerate, Orascom Hotels and Developments (OHD), said that the company is looking to establish major real estate investments in the Sultanate of Oman, Times of Oman reported.

He indicated that the company, which owns a 70 percent shareholding in Muriya Tourism Development Company, is set to positively influence the integrated community development scene in Oman.

OHD has a land bank of 115 million square meters, 50 hotels, over 9,000 properties in seven countries. The company specializes in the development of fully self-sufficient destinations, complete with real-estate properties, hotels, marinas, golf courses, shopping centers and restaurants.

OHD's vast global experience and flawless track record in development planning and implementation will provide a unique set of opportunities for Omani communities and foreign investors alike.

Muriya Tourism Development Company was established in Oman in March 2006, as a joint venture between Orascom Hotels & Development (70 percent) and the Omani government's Omran, (30 per cent) with a total investment of over $850 million.

Source:http://www.menafn.com/qn_news_story_s.asp?storyid=1093169814