Muscat: Notwithstanding the subdued economic environment sparked by the COVID19 pandemic and the sharp drop in international oil prices, Muscat National Development & Investment Company (ASAAS), one of the biggest investors in the Sultanate's travel, leisure and hospitality sectors, is pressing ahead with the implementation of its flagship venture - the Hayy Al Sharq integrated entertainment and leisure complex at Barka in South Al Batinah Governorate.

The Muscat-headquartered developer recently awarded contracts for the construction of two branded hotels as part of the signature project, which clusters a theme park with an array of leisure facilities in the first such destination of its kind in Oman.

According to officials, the well-established Omani construction firm, Al Subhiah Trading and Contracting LLC, has been selected by ASAAS to build a pair of hotels: a 247-keys 3-star property under the 'Arjaan by Rotana' brand, and a 263-keys 4-star hotel under the 'Reyhaan by Rotana' brand. Both properties - part of Hay Al Sharq's Phase 1 offerings - are slated for completion by the first quarter of 2020.

First unveiled in December 2016, Hayy Al Sharq is envisioned to be a one-of-a-kind destination, anchored by an integrated theme park, wildlife, and water park and edutainment centre, while also featuring a collection of 3, 4 and 5-star hotels, residential clusters, and a wide array of dining and leisure options. A well-known operator from Orlando, USA, is proposed to be tapped to operate and manage the theme park components.

Adding to the appeal of the project, ASAAS has also signed a lease agreement with the popular retail brand, Carrefour, represented by Majid Al Futtaim Group, to have a presence at Hayy Al Sharq.

Together with F&B components, family entertainment facilities, ice-rink, and other entertainment offerings, the destination is expected to one of Oman's top draws when it is launched in the next several years. The sprawling facility has been master-planned by Singapore-based Surbana Jurong, one of Asia's largest urban and infrastructure development consultants.

Established in 2014, ASAAS has investments totaling around RO 1 billion in various stages of conceptualization, design, development, and operation encompassing the tourism, transportation, logistics and healthcare sectors. The company also played a key role in the launch of SalamAir, the Sultanate's first budget airline.

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