The Wave, Muscat is to start selling its Reehan Gardens villa project by the end of May, as project directors revealed that total sales at the integrated tourism complex (ITC) this year have topped RO20mn.
With villas for this latest portion of The Wave, Muscat priced between RO200,000 and RO600,000, 107 large twin properties and detached homes will be the first villas in the complex to be marketed outside Oman, with sales teams travelling to Kuwait, Qatar and UAE.
Originally designed as Lakeview West, changes were made to the master plan and the redesigned area was renamed Reehan Gardens, according to David Stafford, vice president of sales and marketing at The Wave, Muscat.
He said, "We have taken into consideration demands of the market for more traditional-style villas. We have not had a villa release for nearly two years, so we are looking forward to a big
take-up of this stock."
Stafford added that sales have exceeded RO20mn in 2012, which he sees as a 'sign of confidence' in off-plan sales in the sultanate and is expecting demand to grow further once the Muscat International Airport development is completed.
He said, "Sales to date are just over RO20mn this year. We are seeing a big take-up from within the region and our traditional market here within Muscat itself.
"We are expecting this to grow with the delivery of the airport and the tourism infrastructure here.
"It is better than previous years. We have seen renewed confidence in the market from October last year. Certainly the level of stability and infrastructure spending by the government is providing a catalyst for investment in property."
Stafford added that marina-front apartments at The Wave will be launched in September, which will also be marketed outside Oman.
To date, more than 1,200 properties have been sold and more than 800 of them delivered to their owners.
© Muscat Daily 2012
