Oman plans $10.4bn for new housing units

Oman plans to invest $10.39bn into developing new housing units for expatriates to purchase.

More than 5,000 homes will be constructed under five Integrated Tourism Complex (ITC) projects, says Times of Oman.

The government has already received a number of applications, according to Mubarak bin Hamad Al Alawi, advisor of legal affairs at Ministry of Tourism (MoT).

“Oman has taken a positive step by opening up the real estate market to Omanis, GCC citizens and other nationalities,” he was quoted.

The projects include Diyar Ras Al Hadd Resort, Omagine, Quriyat Integrated Project, Naseem A’Sabah and Al Nakheel. Read more…