Muscat: The $10 billion Blue City project will be launched in Oman today and is expected to take 15 years to complete, writes Salman Al Ajmi.
Developer Al Suwaidi Investment and Tourism (ASIT) said: “The Blue City would house more than 200,000 residents. Only the 500,000 resident Dubai Waterfront project is bigger.”
The prestigious, multi-billion dollar Blue City, Oman’s largest tourism development project and one of the largest projects of its kind in the entire Middle East, will come up at Al Sawadi seafront area near Barka.
The project will be developed over several phases, in the next 5-10 years, and will launch a new era of development in the country’s economic and social arena.
The international investment consortium, along with the project developer, will make a broad presentation on the project today. Details of the proposed 34sq km multi-speciality seafront city will be announced to the national and international media at Grand Hyatt and a comprehensive presentation on the project will be made later at Al Bustan Palace Hotel.
The Minister of National Economy and Deputy Chairman of the Financial Affairs and Energy Resources Council, Ahmed bin Abdulnabi Macki, will preside over the presentation ceremony to be attended by about 100 journalists from the international media.
Al Sawadi Investment & Tourism Company, which was formed 10 months ago, will be in charge of the massive tourism development project. Besides Omani company Cyclone LLC, the consortium includes Ahmed Abubaker Janahi Holdings (AAJ Holdings), an investor/developer from Bahrain, and O.A.S.I.S. Middle East Holding, an investment company.
ASIT and its development consultants have worked intensively over the last 10 months to prepare a whole new concept for the development. The consultants of previous schemes are no longer involved.
“This is a very large and exciting tourism project that will bring several world-class facilities to the city. It is much needed for today’s tourism development initiatives,” tourism industry analysts said.
The Blue City will include several hotels and tourism attractions, as well as strategic economic development clustres that are aligned with the national interests of Oman and, more particularly, in the education, healthcare, sports and marine sectors.
“The government is providing  extensive support to the project as the Blue City is expected to give a big boost to the Sultanate’s tourism industry, and attract good amount of foreign investment,” tourism industry experts said. “The private sector is actively taking part in the nation-building process. The Blue City project will attract a good amount of foreign investment,” Omani industrialists said.
Quickly emerging as a highly attractive holiday spot for its beautiful coastline, peaceful cities and lush environment, Oman is increasingly making it to the top of international traveller’s wish lists.
Last update on: 4-6-2005