The Public Establishment for Industrial Estates (PEIE) exchanged memoranda of understanding with Al Sharqiya Real Estate Developers for the implementation of the integrated commercial project (Sur Gate) on Wednesday at the Ministry of Commerce and Industry, according to a press release.
PEIE was represented by H E Sheikh Sa'ad al Sa'adi, Minister of Commerce and Industry and chairman of PEIE board, while Al Sharqiya Real Estate was represented by Yasser bin Ali al Alawi, managing director.
Sur has entered a new phase of development with fast-track commercial and industrial developments taking place in the wilayat. The most significant of these is the Sur Gate project, which has broad expectations and unique features for both its founders and users.
The project has been planned to be completed within the coming four years and become a landmark and commercial centre for Sur city and the entire Sharqiyah governorate taking into consideration location, potentiality, concept, services and activities factors.
"Sur Gate will undoubtedly reflect positively on the industry's development and growth and attract major investments," said Hilal bin Hamad al Hasani, CEO of PEIE.
Hasani added, "The project is located on an area of more than 200,000sq m and the total investment cost of the project is estimated at more than RO120mn.
The first stage of the project's implementation will commence before the end of 2012. "The Sur Gate project will generate more than 500 jobs, of which 70 per cent will be for Omanis," he said.
In an attempt to cover most of Oman with similar projects, Hasani pointed out that there is a residential, service and entertainment project currently being implemented in Rusayl Industrial Estate in Muscat.
"In fact, there are plans to initiate a similar project in Sohar Industrial Estate, and in future, Nizwa Industrial Estate and Sumail Industrial Estate," he added.
Located at the entrance of Sur, overlooking the coastal highway that links Muscat
governorate to Sur city and the rest of Sharqiyah region, the Sur Gate project will include a commercial complex, shopping mall, entertainment centre, hypermarket and dining facilities, as well as residential complexes.
"The importance of the Sur Gate project lies in serving the wilayat of Sur and the neighbouring wilayats as well as serving Sur Industrial Estate which is the economic gateway to the wilayat.
"The development of tourism in the eastern costal region and support to projects and the Ras al Hadd Airport required the implementation of a commercial tourism project to enhance economic tourism activities," said Yasser bin Ali al Alawi, managing director of Al Sharqiya Real Estate.
© Muscat Daily 2012
