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FINANCIAL NEWS
Oman to set up USD1.5b medical complex
29 Jan 2013
(MENAFN) Oman is set to implement a USD1.48 billion health project, and will float a tender this year to manage construction, Reuters reported.
Ahmed Al Qasmi, director general for planning at the health ministry, said that the ministry plans to build a medical complex in northern Batnah.
Batnah is a northern coastal region and is the most populated area in Oman after the capital Muscat.
The planned project will be constructed on a 5 million sq m, and will comprise residential space and shopping malls as well as hospitals.
The move comes as the sultanate seeks to accommodate the growing demand due to a growing population.
The population is expanding at 4 percent a year; the latest official census shows there are 3.2 million people in the sultanate, of which 1.3 million are foreign workers.
This is also part of Oman’s ongoing heavy spending on its infrastructure, taking advantage of a windfall from oil revenues.
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