Skip to content Skip to Search
Skip navigation

Oman signs $390m agreements to develop integrated cities

By Pramod Kumar
Person, Man, Adult Oman News Agency
The agreements include the construction of an integrated cities and service stations across the country

Oman’s Ministry of Housing and Urban Planning has signed eight agreements worth OMR150 million ($389.59 million) to build real estate projects and integrated service stations across the country, state-run Oman News Agency reported.

The deals include the construction of an integrated city in Al Amerat on an area of more than 445,000 sq m. The city will provide 1,050 housing units valued at OMR 60 million.

As part of the projects, a similar city will be built in Halban, South Al Batinah governate, to provide 1,350 housing units valued at OMR100 million.

In addition, agreements were signed to set up two integrated service stations in Liwa and Saham, North Al Batinah governate, at an investment of OMR4.6 million.

In Barka, South Al Batinah governorate, two integrated service stations spanning 60,000 sq m will be set up costing OMR3 million.

Furthermore, the agreements include the OMR1 million expansion of the Oman LNG facilities at the airport heights in Muscat, the report said.

Latest articles

STC wants to consolidate the mobile tower market

STC approves PIF purchase of telecom company

Shareholders of Saudi telecom giant STC have approved plans to create a new telecommunications infrastructure company in which the Public Investment Fund will have a 51 percent stake valued at SAR8.7 billion ($2.3 billion).  Under the deal, the STC-owned Telecommunication Towers Co. Limited (Tawal) will become a PIF subsidiary through a merger with Golden Lattice […]

Flavio Cattaneo of Enel, of which Endesa is a subsidiary, and Mohamed Jameel Al Ramahi at the signing of the deal

Masdar buys stake in Spanish utilities company Endesa

The UAE’s state-owned clean energy company Masdar has agreed to acquire a minority stake in Spanish electric utility business Endesa to partner for 2.5 gigawatts (GW) of renewable energy assets in Spain. Under the agreement, subject to regulatory approval, Masdar will invest nearly $890 million to acquire a 49.99 percent stake in Endesa, with an […]

UAE markets Hong Kong

UAE capital markets partner with Hong Kong exchange

The Hong Kong Stock Exchange (HKSE) has added the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM) to its roster of recognised marketplaces. The move opens the door for UAE-based companies to pursue secondary listings on one of Asia’s premier financial markets. It also follows the inclusion of the Saudi Exchange (Tadawul) […]

Person, Worker, Adult

Aramco and PIF invest in Saudi-Chinese steel venture

Saudi Aramco and the Public Investment Fund have doubled their investment in a steel plate joint venture with a Chinese company to $500 million. The two Saudi companies each own 25 percent shares in the new venture in Ras Al Khair industrial city, Bloomberg reported, quoting a statement published on the Chinese stock exchange. Chinese […]