Bin Al Sheikh Holding Group has signed an agreement to set up an investment tourism project in Oman at a cost of QR1.2bn, according to a statement.
To be opened in three years so as to coincide with 2022 FIFA World Cup Qatar, the project is expected to provide more than 2,000 job opportunities. Additionally, a fund will be set up to provide support for about 100 small and medium-sized projects for Omani youth.
The agreement was signed by Mohsen Mubarak Mohsen al-Khwar, chairman, Bin Al Sheikh Holding Group and Ahmed bin Nasser al-Mahrizi, Minister of Tourism, Oman.
The agreement plans to set up an investment tourism project consisting of a variety of Omani heritage and tourism markets, similar to Souq Waqif but with exclusive Omani traditions, as well as a marina for yachts, boats, cafes, restaurants and various shops for the finest international brands, in addition to a cultural centre and entertainment destination suitable for all members of the family and young people.
Zied Jbarah, CEO, Bin Al Sheikh Holding Group, expressed his full trust in the success of the group through well-thought out plans. The Group recently signed a usufruct agreement with the Omani Ministry of Tourism to set up an investment project in Seeb in Muscat Governorate for 50 years, but renewable.
Bin Al Sheikh Holding Group has a hotel in the city of Salalah, running successfully since about two years, Jbarah added.