MUSCAT -- Well-known developer Al Qandeel Real Estate Services unveiled 'Old Town' -- a fully integrated residential and commercial complex, at a lavish launch event held at the Grand Hyatt Muscat on Saturday. A number of dignitaries, including Royal Family members, ministers, and senior government officials, as well as large gathering of potential investors, attended the launch.
"To reap an even richer harvest and in keeping pace with the times, this new project will surely provide better and adequate housing to citizens and residents alike. Being in the heart of the capital, Muscat on Mumtaz Heights, in Ruwi, 'Old Town' will have a distinct advantage and benefits, unmatched by none," commented Mustafa Ali Mohammed al Lawati, Managing Director, Al Qandeel 'Old Town' is strategically located on the hill behind the Ministry of Sports Affairs in Mumtaz area at Ruwi in the Wilayat of Muttrah.
The RO 65 million project features multi-storey towers with penthouses on the 7th floor. The project consists in excess of 500 flats (2-BR and 3-BR), in addition to a shopping mall area and offices premises and a full fledged health club. Perched on a hill, 'Old Town' will offer a semi-panoramic view of the Ruwi area. The 'Old Town's unique location offers distinct advantages, notably its close proximity to major landmarks of Muttrah and Muscat, tranquillity and the ambiance of a haven.
The area is well-developed and has convenient access to all the basic public service facilities like electricity, water, telephone and roads. The location lies within distance of various schools, government establishments like Muscat Municipality, Ministry of Sports Affairs, and Ministry of Commerce and Industry, and other commercial landmarks in the CBD area.
Also within convenient access are many leading corporate offices such as BankMuscat, Bank Sohar, National Bank Oman, Oman Arab Bank, Bank Dhofar and HSBC, as well as hotels like Al Falaj Hotel, Ruwi Hotel and Haffa House Hotel. Further, Ruwi High Street commercial area, Sultan Qaboos Port, Muttrah Corniche, and CBD/MBD areas are in the vicinity of the project.
'Old Town' will be built on a plot of land admeasuring 36000 sq metres. The total built-up area (excluding the constructed area) will be 148000 sq metres. The project will consist of seven blocks, 5 Residential Blocks of GF + 5 Floors + Penthouse. All flats will have spacious areas, with functional and aesthetic design. Block 6 will feature a commercial and residential area called 'The Bazaar', the ground floor will accommodate a commercial rentable area for excess of 50 shops and the 1st floor housing 50 offices.
Block 7 features a fully fledged health club that will contain a swimming pool, tennis court, indoor squash court, club house, children's playground and premium restaurants, in addition to an underground parking facility for up to 1,000 cars. Sale bookings began yesterday with housing loans available through National Bank of Oman.
© Oman Daily Observer 2008
