Oman’s OMRAN, the Oman Government Tourism development company, and UAE-based company DAMAC have announced a development partnership to develop the Mina Sultan Qaboos Waterfront into a $1 billion major integrated tourism and lifestyle destination in Muscat.
OMRAN, the Oman Ministry of Tourism’s subsidiary, will have a new CEO, from May 1st. He will join OMRAN following the departure, for personal reasons, of the previous CEO James Wilson in February 2017.
Just west of Muscat Airport is the project owned by Omagine Inc (OMAG.PK) which is partially owned by its Chairman Frank J Drohan, Omagine and Oman Government entity Royal Court Affairs (RCA); this is just under 1 sq km. It has, they say, received finance approval earlier in 2016. This project has been under process since 2007 (opens as PDF) according to their website, when a partnership was formed with J&P Construction. Amongst their Directors is Alan M Matus, who apparently was a director with USA Presidential candidate and reality TV personality Donald Trump.
A similar substantial project in Barka west of Muscat, previously called ‘Blue City’ is now slightly smaller as its owner since the end of 2015, Muscat Finance Corporation, has provided 1.5sqkm of the 32sq km plot to “Muscat National Development & Investment Company” (ASAAS) . The land will be a sea front entertainment and leisure destination,
OMRAN, the Oman Ministry of Tourism’s subsidiary, is charged with developing the commercial tourism/leisure & similar operations in which the government has a stake. Since 2007 the operation has overseen the expansion of its assets from relatively small properties, such as Ras Al Jinz with 14 bedrooms, to today’s substantial portfolio.