The ministry will officially invite real estate developers to invest in the development of the three sites. In Bausher, 127,224sq m of land (current site for Oman International Exhibition Centre) will have a four-star hotel and hotel apartments, 12 office/residential buildings, health club with a baby daycare centre, medium-sized independent building for conferences, commercial complex (mall), housing units for MoCI and its headquarters.
The ministry stated that its headquarters will be developed by the investor at his expense without any financial implications for the government in return for the utilisation of the rest of land to implement and develop the different components of the project in accordance with long-term usufruct agreement.
The other facets of the Bausher project include a 600m long shaded walkway, interspersed with office/residential buildings, and overlooked by restaurants and cafés, aiming to provide an upscale environment and a unique experience for business, shopping and entertainment, stated the ministry. The second land is in Al Khuwayr, with an area of 14,588sq m, and the third at Ghala Heights with an area of 13,267sq m.
Both will be mixed-use development ranging between residential, commercial and office space. A senior ministry official announced that this was part of the government’s approach to promote partnership between the public and private sectors in order to achieve the economic development goals in the country, especially in commercial, tourism and real estate sectors.
MoCI in coordination with the Ministry of Finance, has conducted an inventory of all government owned lands in the sultanate aiming to offer them for investment to the private sector. The ministry has conducted the necessary preliminary study for these lands to determine the nature and the components of the projects suitable for economic and social development.