OMRAN announces new investment opportunities at Madinat Al Irfan

As part of its constant efforts to accelerate the development at Madinat Al Irfan, Oman Tourism Development Company (OMRAN), the Sultanate’s executive arm for tourism development, recently announced new investment opportunities at Madinat Al Irfan East.

The investment opportunities currently available include OMRAN’s upcoming three-star hotel, Ibis Styles, expected to unlock 282 keys, adjacent to the Oman Convention and Exhibition Centre, as well as a build-and-own commercial office building in Madinat Al Irfan’s Business Park, in which OMRAN will lease part as its Head Office. The net leasable area of the building would be approximately 16,000 square meters.

Salah Salim Al Ghazali, VP of Development Partnerships and Investment Relations at OMRAN said: “We encourage the investment community to take advantage of this opportunity in this world-class, evolving area which enjoys a strategic location at the heart of Muscat, creating a modern urban destination for visitors, residents and businesses.”

“Madinat Al Irfan East is a vibrant area that encompasses the country’s new events hub, Oman Convention and Exhibition Centre Precinct, which is linked to the new Crowne Plaza Muscat OCEC Hotel and Muscat’s first JW Marriot Hotel. This is in addition to the Business Park which is designed to house the offices of leading corporations – and currently home to the new Omantel headquarters. OMRAN is now offering investors a unique opportunity to invest in this ideal and innovative business environment”. Al Ghazali added.

The minimum lot size of investment shall be decided by OMRAN based on the final number of investors. Prospective institutional investors are requested to submit their Letter of Interest by email to latest by 31 October 2019.

OMRAN has a proven track record of delivering and managing sustainable and authentic tourism assets, lifestyle communities and destinations that are aligned with Oman’s National Tourism Strategy 2040. The company is also actively involved in strategic partnerships with renowned regional and international investors to create sustainable socio-economic benefits for the country.