08 August 2012
Muscat: Omran is in discussion with a regional investor to revive the Salam Yiti resort project, located southeast of Muscat city.
The work on the resort venture was stalled in the aftermath of global economic slowdown, which affected its joint venture partner Sama Dubai.
"The government is in discussion with another investor for reviving the project. We are still in discussion with the new investor,- said Eng Wael bin Ahmed Al Lawati, Chief Executive Officer of Omran.
Asked whether the company will scale down the project, he said, "The master plan will be more in line with what the market is going to accept in terms of size and components. However, it will not be scaled down in terms of the project size.-
According to the earlier plan, the Yiti resort will feature a range of residential and tourism facilities-š built around a landscaped golf course set against stunning coastal scenery.
On the progress made by the company in developing various hotels, he said the 200-room Duqm Crowne Plaza will be opened before the end of this year, while soft operation has already been started at Duqm City Hotel.
Muscat: Omran is in discussion with a regional investor to revive the Salam Yiti resort project, located southeast of Muscat city.
The work on the resort venture was stalled in the aftermath of global economic slowdown, which affected its joint venture partner Sama Dubai.
"The government is in discussion with another investor for reviving the project. We are still in discussion with the new investor,- said Eng Wael bin Ahmed Al Lawati, Chief Executive Officer of Omran.
Asked whether the company will scale down the project, he said, "The master plan will be more in line with what the market is going to accept in terms of size and components. However, it will not be scaled down in terms of the project size.-
According to the earlier plan, the Yiti resort will feature a range of residential and tourism facilities-š built around a landscaped golf course set against stunning coastal scenery.
On the progress made by the company in developing various hotels, he said the 200-room Duqm Crowne Plaza will be opened before the end of this year, while soft operation has already been started at Duqm City Hotel.
© Times of Oman 2012
