Jun 26 2012 |
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RO120mn Sur Gate project to be completed by 2016-end
By Gulam Ali Khan The RO120mn Sur Gate project, an integrated real-estate venture of Al Sharqiya Real Estate, is expected to be completed by the end of 2016 with construction starting early next year.The project, which is expected to provide a major economic boost to Sur and the surrounding Sharqiya governorate, includes a luxury hotel with 144 rooms and 18 suites, a commercial complex for business use, a hypermarket and a modern entertainment complex that will include a four-screen movie theatre.
Sur Gate will also comprise residential facilities. The project will cover an area of 217,000sqm at the entrance to Sur and close to the main highway to Muscat.
Yasser Ali al Alawi, managing director of Al Sharqiya Real Estate, said that the entire project is expected to be completed by the end of 2016.
"The second phase includes construction of the luxury hotel. The project has the potential to create 500 new jobs and become a major economic stimulus for businesses and the local tourism sector."
Alawi said that the project was being developed with the support of Public Establishment for Industrial Estates (PEIE), which is playing a significant role.
Al Sharqiya Real Estate was established in 2007 and the Sur Gate project is its largest project to date. The company is planning a number of other projects in the Sharqiya governorate.
© Muscat Daily 2012
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