Construction Omani contractor signs tower deal for billion-dollar project By Gavin Gibbon February 23, 2024, 4:33 AM Imago/Jürgen Schwenkenbecher via Reuters Connect Tawoos will develop two towers as part of the Al Khuwair Downtown Project that is intended to transform Muscat Two mixed-use towers in Oman Part of Al Khuwair project Tawoos developing 60,000 sq m Omani conglomerate Tawoos Group has signed a deal to build two mixed-use towers within the sultanate’s billion-dollar Al Khuwair Downtown Project. The project in the Muscat governorate has raised $1.3 billion in investments, according to a report from the Oman Observer, and covers an area of 3.6 million square metres. Tawoos Group will be responsible for developing a 12,000 sq m plot of land, which will comprise 60,000 sq m of gross floor area, incorporating offices, residential and retail space. Oman hotel licence limits signal ‘desire to enhance quality’ Study on $2.6bn Muscat metro to finish this year Oman expects a ratings rebound but oil’s grip is strong “Our mixed-used towers will serve as a lighthouse that inspires the Al Khuwair Downtown project,” said Samir Fancy, chairman of Tawoos Group. Al Khuwair Downtown will include towers as high as 35 and 40 storeys, according to reports, and building work is scheduled to start by the end of this year. Khalfan bin Saeed bin Mubarak al-Shueili, Omani minister of housing and urban planning, said London-based Zaha Hadid Architects has been charged with creating the master plan for the Al Khuwair Downtown district. The project is considered to be a key component of Oman’s National Spatial Strategy, which is guiding urban growth in the sultanate through to 2040. Oman’s real estate sector is showing a resurgence as a result of an increased expatriate population. According to a report from Savills, it grew by 33 percent from a low of 1.63 million in September 2022 to 2.17 million in May last year, the highest that the expatriate population has ever been.
