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| Background |
Al Sawadi Investment and Tourism CompanyAl Sawadi Investment and Tourism Company plans to build Al Madina A'Zarqa (Blue City), a community development in Oman.
Al Madina A'Zarqa will cover an area of 34 million sq.m. and will include residential, commercial, business and tourism clusters such as specific health, education and sports zones.
The development will be built in 10 phases over a period of 15 years.
Foster and Partner is the master plan consultant.
Bovis Lend Lease is the PMC.
Thomson Perrett and Lobb is the golf course design consultant. |
| Latest Events |
In October 2011, the project was still on hold and no expected date to resume work was yet revealed.
In 2012, phase 1 was expected to be completed and phase 2 was expected to be launched.
In 2020, the project is expected to be completed. |
| Previous Events |
In Q1 2011, the project was put on hold due to financial issues.
In August 2010, the construction of the development was ongoing.
In January 2006, the DB contract for phase 1 was awarded to AECO Development, (the JV of Aktor from Greece and Enka from Turkey).
In Q3 2005, site construction started.
In 2005, the project was launched. |
| Scope of Work |
Construction of a 34 million sq. m. community development including:
- 5 beach resorts
- 2000 hotel rooms
- 1000 residential units
- A golf course
- Educational and professional training facilities
- A healthcare center
- A sports venue
- A marina development |
| Financing Source |
Oppenheimer Investements was appointed as the financial adviser of ASIT.
Clifford ChanceClifford Chance and Shearman & SterlingShearman & Sterling acted as legal advisers on the bond. |
| Contract Packages |
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| Related Projects |
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| Project News |
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| Schedule | Contract Phase/Phase | Description |
| 2005 |
Planning | Project launched
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| Q3 2005 |
Construction | Site construction started
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| Q1 2011 |
Construction | Project put on hold
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| 2012 |
Announcement | Phase 2 was expected to be launched | | | Completion | Phase 1was expected to be completed
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| 2020 |
Completion | Project expected to be completed
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