Phase 1 of Al Nakheel ITC to start in 2022 in Oman

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Muscat – With 1,436 residential apartments, villas and town houses that will be available for ownership to both citizens and expatriates, the Al Nakheel ITC project spread over 500,000sqm will be ready in 10-15 years.

Phase 1 (A) of the project was launched at a ceremony held at W Hotel Muscat on Sunday. Construction of Phase 1 (A) of the project, which includes internal roads and other infrastructure, Crystal Lagoon with recreational facilities, a four-star hotel with 188 keys, a traditional souk, apartments and residential villas will start in 2022.

The launch event was held under the patronage of H E Salim bin Mohammed al Mahrouqi, Minister of Heritage and Tourism, in the presence of Murtadha Ahmed Sultan, member of the Board of Directors of Towell Group, partner in ALARGAN Towell Investment Company and primary investor in the project, Khaled al Mashaan, CEO and vice-chairman of the Board of Directors of ALARGAN International Real Estate Company, and Mohammed Moosa al Abri, CEO of Al Nakheel project.

On the occasion, H E Mahrouqi said, “The project aligns with the ministry’s plan to build a diversified tourism sector that meets the needs and requirements of the domestic and regional tourism industry.”

He added that the project will enhance competitive capabilities of the country, combining natural, historical, cultural, heritage and social elements that are unique to the Gulf region. “The ministry is working at various levels to accomplish similar projects in several governorates, thanks to approved directions and policies to build an economy based on diversified revenue streams that enhance the labour market and local content.”

The Al Nakheel ITC project is located in Al Rumais, which links Muscat governorate with the wilayat of Barka. The development is distinguished by an 830m waterfront overlooking the Sea of Oman. It includes a shopping mall, an international school, several speciality restaurants, an aqua park and other entertainment and service facilities.

Highlighting the project’s location on the beach of Al Rumais, Abri said, “It aims to create a tourist destination in Barka that is attractive to citizens, residents and tourists visiting Oman. In addition to the Crystal Lagoon and its other design characteristics, the Al Nakheel ITC project will be distinct from other ITC projects by virtue of reasonable pricing of residential units which will be within the reach of citizens and residents alike.”

According to Sultan, the project aims to strengthen infrastructure of the tourism sector, increase the number of hotel rooms, create rewarding employment opportunities for Omanis, and achieve other goals that are related to the development of the tourism sector in the sultanate in line with Oman Tourism Strategy 2040.

ALARGAN Towell Investment Company, the main investor in the project, was founded in 2003 in Oman as a strategic alliance between WJ Towell and ALARGAN International Real Estate Company. This partnership led to the construction of several successful integrated projects.