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The United Real Estate Company, listed on the Kuwait Stock Exchange, in cooperation with the South Eastern Governorate, has laid the foundation stone for the integrated “Shamkhiya” project in the state of Masira in the Sultanate of Oman, in a move that officially launches the implementation phase of one of the most promising tourism and real estate projects in the governorate.
The project comes within the framework of the company’s drive to enhance its investment and commercial presence in the Sultanate of Oman, based on the Sultanate’s investment and developmental capabilities, and a stable and stimulating environment for business, and reflects the extension of historical and brotherly relations between Kuwait and the Sultanate of Oman, according to Al-Rai newspaper.
The project includes facilities for hospitality, accommodation and shopping, along with an Omani heritage market
Integrated project on an area of 60 thousand square meters
The ‘Shamkhiya’ project is a new addition to the development scene in the state of Masira, as it includes facilities for hospitality, housing and shopping, along with an Omani heritage market inspired by the identity of the state and its cultural and historical heritage, on a total area of 60 thousand square meters.
The design of the project took into account the harmony with the environmental and geographical characteristics of the State of Masira, which contributes to the development of the experience of visitors and residents, and enhances the position of the State as a promising tourist and investment destination.
The Group’s CEO, Mishari Al-Muhailan, stressed that the laying of the foundation stone represents the actual start of the implementation phase of the project, and embodies an investment vision that combines sustainable development and the preservation of local identity, pointing out that the project is designed to suit the nature of the Masirah mandate and its future ambitions.
Al-Muhailan said: “We are proud to launch the implementation phase of this project in the state of Masira, which embodies our confidence in the investment and tourism potential of the Sultanate of Oman, and confirms our commitment to developing integrated destinations that add economic and social value to local communities, and contribute to enhancing the attractiveness of the state as a distinct tourist and investment destination.”
New opportunities for tourism and investing in its fate
He added that the province of Masira has unique ingredients and promising opportunities for growth in the tourism and investment sectors, expecting that the project will contribute to attracting more visitors and investors, in addition to creating new economic opportunities that support sustainable local development.
The "Shamkhiya" project is implemented in cooperation and coordination with the southeastern governorate and the concerned government agencies
He pointed out that the security and stability of the Sultanate of Oman is one of the main pillars to attract investments and support the path of sustainable development, in addition to its role in enhancing the confidence of investors and partners in various sectors.
He stressed that the Sultanate offers a successful model in providing a supportive environment for ambitious projects and development initiatives, which encourages companies to expand their investments and implement long-term projects.
Public-Private Partnership
The "Shamkhiya" project is implemented in cooperation and coordination with the southeastern governorate and the concerned government agencies, reflecting the importance of partnership between the public and private sectors in the development of strategic projects that support the objectives of economic and tourism development.
The cooperation aims to make the best use of the natural and heritage components of the Masefa mandate, develop projects that contribute to expanding economic activity, and enhance the state’s ability to attract investments.
The project represents an extension of the presence of United Real Estate Company in the Sultanate of Oman, after it had previously developed and operated the Salalah Gardens Hotel, which is one of the most prominent commercial and tourism projects in Dhofar Governorate, and the first integrated shopping center in the city of Salalah with a built-in area of more than 86 thousand square meters.
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