Developers and investors from Oman and Qatar are forming a joint venture to move forward with an eco-themed project in Oman which will include five-star hotels and resorts, as well as wildlife, cultural and retail elements.
The Government of the Sultanate of Oman and Qatari Diar Ras Al-Hadd Development Company SAOC, a newly established entity that is jointly owned by the Oman Tourism Development Company (Omran) Qatari Diar Company, signed a development agreement for the Ras Al-Hadd project, located in the South Al Sharqiyah Governorate.
It will cover a total of 5.9 million square feet and is expected to cost an estimated $649 million to develop.
The first phase, expected to be completed by the end of 2018, will include a 100-room eco-themed resort, 50 hotel villas, 150 residential villas and a 2,296-square-foot area for a market.
Coming later in the second phase, 100 five-star hotel rooms will be added to the resort, while and additional 196 residential villas and a dedicated centre for wildlife preservation and observation park set over 10,000 square metres will be built.
The third construction phase will see the construction of a separate 200-room, five-star resort, an additional 50 hotel villas and 179 residential villas, as well as the development of a new market area covering 16,000 square metres, and a specialised marine life park.
The final phase of the Ras Al-Hadd project will include the opening of a 150-room, five-star hotel, 50 hotel villas, 175 new residential villas, a dedicated heritage village, and a specialised accommodation zone for support staff with a capacity for 836 employees.