Muscat, Sultanate of Oman: "Al Nakheel" Integrated Tourism Complex in the Sultanate of Oman welcomed His Excellency Azzan bin Qassim Al Busaidi, Undersecretary of the Ministry of Heritage and Tourism, who conducted a site visit to review the project’s latest updates and development phases. The visit took place in the presence of His Excellency Maqbool bin Ali Sultan, Chairman of WJ Towell Group and Chairman of ALARGAN Towell Investment Company; Eng. Khaled Al-Mashaan, Chairman of ALARGAN International Real Estate Company and Vice Chairman of ALARGAN Towell Investment Company; Mr. Mohamed Al Abri, CEO of Al Nakheel Company; and Eng. Maher Joujou, CEO of ALARGAN Towell.

This visit comes as part of the efforts dedicated to monitoring key integrated tourism projects which contribute to achieving the goals of Oman Vision 2040 and enhancing the Sultanate’s position as a leading destination for investment and sustainable tourism. The visit included a field tour across the project's various facilities and main components, during which the master plan, development phases, and ongoing construction work were reviewed.

During the visit, His Excellency was briefed on the progress of executive works, infrastructure development, and core utilities. Construction is progressing rapidly in accordance with the approved plans, confirming the project's transition from the planning stage into actual on-ground implementation.

The presentation also highlighted the future phases, operational plans, and investment strategies of the project. Phase 1 is witnessing continuous progress, with the initial licensing procedures nearing completion for both the hotel component, "Pickalbatros," boasting 305 rooms, suites, and hotel villas, alongside an integrated aqua park, fully serviced hotel apartments, and a mixed-use commercial and entertainment zone; and the residential component, "Al Nakheel Signature Residences," featuring 452 apartments and 30 townhouse units.

This follows the signing of a strategic partnership agreement with Pickalbatros Group, the largest resort and entertainment operator in the Middle East, to operate and invest in the hotel component of the project, further reinforcing "Al Nakheel" as an integrated tourism destination on the Omani coast. The partnership marks the first investment for Pickalbatros Group in the Sultanate of Oman and the Arabian Gulf region, representing a significant expansion step in the region. This reflects the confidence placed in the "Al Nakheel" project and its unique investment and tourism potential, underscoring its appeal for strategic partnerships with prominent hospitality and tourism investors and operators regionally.

During the briefing, it was emphasized that "Al Nakheel" is a freehold development, offering ownership opportunities to Omani citizens and international investors of various nationalities. Eligible investors can also benefit from the Investor Golden Residency Program in accordance with the regulations applicable in the Sultanate of Oman, which enhances its investment attractiveness both regionally and internationally.

The project offers a range of unique features that enhance its status as an integrated destination for living, investment, and tourism. Foremost among these is a crystal lagoon designed for water activities and swimming, extending over an area of 55,000 square meters and serving as one of the project's prominent attractions. The project also features a vibrant waterfront promenade lined with restaurants and cafes, offering an integrated experience that blends hospitality, entertainment, and a modern lifestyle.

On this occasion, Eng. Khaled Al-Mashaan, Chairman of ALARGAN International Real Estate Company and Vice Chairman of ALARGAN Towell Investment Company, stated: "Al Nakheel represents an extension of our long-standing expertise in developing integrated communities, real estate, and tourism destinations in the region. Through this project, we aim to deliver an integrated model that combines a strategic location, premium design, and world-class hospitality, consolidating its position as one of the most prominent new coastal destinations in the Sultanate of Oman. It will contribute to attracting local, regional, and international investments in support of economic diversification efforts and the development of sustainable urban and tourism destinations. The project’s design and development are based on the principles of sustainability and environmental preservation through expanding green spaces, improving resource efficiency, and providing a balanced urban environment that harmonizes with the natural characteristics of the coastal site, thereby supporting the objectives of sustainable urban and tourism development in Oman."

For his part, Mr. Mohamed Al Abri, CEO of Al Nakheel Company, said: "The project is witnessing tangible progress across its various execution phases. We are operating under a comprehensive development plan focused on quality, efficiency, and adherence to the approved timeline. The current phase represents a significant milestone as we approach the completion of regulatory and licensing procedures for the main components, paving the way to move into new executive phases that reinforce the project’s position as one of the premier integrated coastal destinations in the Sultanate."

ALARGAN Towell Investment Company continues to develop "Al Nakheel" project according to the highest international standards, achieving tangible progress in development and construction works, underscoring its commitment to transforming the project’s master plan into an integrated reality on Oman's soil. Upon completion, the project is expected to deliver a qualitative addition to both the tourism and real estate sectors, contributing to creating sustainable value for residents, investors, and the national economy.

About ALARGAN Towell Investment Company LLC:

ALARGAN Towell Investment Company is one of the leading real estate development companies in the Sultanate of Oman, specializing in developing integrated residential and investment destinations that combine quality development, sustainability, and ongoing investment viability. Representing a strategic partnership between ALARGAN International Real Estate Company and the Omani WJ Towell Group, ALARGAN Towell has established itself as a leading developer of premium projects across the MENA region. This success is backed by ALARGAN International Real Estate Company’s extensive expertise spanning over 30 years in the Gulf and North African real estate sectors, alongside the rich heritage of WJ Towell Group in Oman, which exceeds 150 years.

The company's portfolio includes a diverse range of residential, commercial, and mixed-use developments, including Integrated Tourism Complexes that offer property ownership opportunities to Omanis and international investors of various nationalities. In line with the objectives of Oman Vision 2040, the company continues to develop urban and tourism projects on the Omani coast to support urban development, enhance the quality of life, and create sustainable value for residents, investors, and the national economy.