Muscat – As part of the national initiative of integrated residential neighbourhoods – Sorouh – the Ministry of Housing and Urban Planning (MHUP) will offer five sites for private investment in five governorates to stimulate the real estate sector.
The initiative aims to achieve the objectives of population and economic growth, while enabling the private sector to attract investments in the governorates to contribute to the development of integrated and sustainable urban communities.
A ministry statement said, ‘Five new sites will be opened for real estate developers in Musandam, Dhofar, South Sharqiyah, North Batinah, and South Batinah in September. The new neighbourhoods will be developed on a partnership contract system with real estate developers.’
MHUP is factoring in areas of high population density as well as the residential land applications registered with it in this initiative.
Masoud Said al Hashmi, director general for Real Estate Development in the ministry, said, “The Sorouh integrated projects are equipped with all the necessary and modern services for residential neighbourhoods. The Al Naseem neighbourhood is the first project Sorouh implemented. It has 1,000 housing units, including 320 apartments, 120 villas and 475 twin villas, on an area of 350,000sqm. The real estate developer is responsible for the infrastructure and services within the project boundaries.”
The housing units will be delivered to citizens in Al Naseem in May of 2023.