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FINANCIAL NEWS
Oman launches USD2b costal project
13 Jul 2016
(MENAFN) Sultanate of Oman has announced that the construction work on Omagine, a USD2.5 billion multi-use tourism and real estate project to be in eight years.
In detail, the project will be established on a 1-million-sq-m beachfront area in Oman and will be due completed by 2024, said a report.
Moreover, the project, located in Seeb, boasts seven pearl-shaped buildings which will host hotels, offices, residences and entertainment venues, the report added.
“The slump in global oil prices has meant project managers have been seeking further funding globally”, clarified the report citing Omagine chairman.
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