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FINANCIAL NEWS
Muriya Co. to invest USD 500mn in two projects in Oman
17 Feb 2016
(MENAFN) Muriya Tourism Development Co. aims to invest USD 500mn for finishing high-end hotels and other facilities in its two main destinations- Salalah and Jebel Sifah.
Accordingly, the firm needs another USD 500mn to construct the remaining hotels and entertaining facilities in both destinations in the coming six to eight years.
Moreover, Egypt-based Orascom Development has 70 percent stake in Muriya Co, while the remaining 30 percent is held by state-owned Oman Tourism Co (Omran).
The firm plans to build more three hotels in order to make it a critically-sized destination to be capable to bring more air traffic, which had three hotels with 700 rooms.
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