MUSCAT -- Al Balushi Investment LLC, which currently manages a number of major real estate ventures in Oman and the United Arab Emirates, is planning to unveil several new developments in the near future.
The projects of Al Balushi Investment LLC, which is owned by Shaikh Ahmed bin Suwaidan al Balushi, include tourism ventures, such as hotels and hotel apartments, villas, and commercial and residential buildings. The company is now looking to ramp up its investments in the real estate and property market, which has grown phenomenally in recent years.
"The Sultanate of Oman is the first state in the Gulf to implement the law of 100 per cent ownership of projects. Oman took advantage of the oil price boom by allocating sites for co-investment for nationals, which has increased investments in major real estate and tourism projects," said Hussain A Fattah G Habib, Managing Director of the Group. "Oman also has the highest investment return in the region," he added.
Al Balushi Investment's goal is to create investment opportunities in the real estate market in the Sultanate. "Oman has unique locations that are yet to be utilised. Such areas will prove to be major attractions for investors and developers," according to Hussain Habib. Additionally, the company's objective is to provide unique development projects for investment and ownership by Omani as well as GCC nationals.
The company's business focuses mainly on residential and commercial ventures. The Group also owns Business Bureau LLC (Eqarat.com), First Medical Centre LLC (Welcare Diagnostic and Treatment Centre), Easy Travel & Tourism LLC, AGGI, Majan TV Channel SAOC and Value Properties -- UAE.
By Staff Reporter
© Oman Daily Observer 2008
