Tuesday, May 30
09:15 AM

Five sites for private investment in the offing


Muscat –To stimulate the real estate sector, the Ministry of Housing and Urban Planning (MHUP) offered five sites for private investment in five governorates, as part of the national initiative of integrated residential neighbourhoods (Sorouh).

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 opened for real estate developers in Musandam, Dhofar, South Sharqiyah, North Batinah, and South Batinah with a total area of more than 1.8 million sqm and the purchase will take place on Sunday September 25 at the Ministry’s building . The new neighbourhoods will be developed on a partnership contract system with real estate developers.’

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.

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