Muriya to invest US$ 500 mn in construction of high-end hotels in Oman
Posted on 19th February 2016
Muriya Tourism Development Company, a leading integrated tourism project developer in Oman, is looking to invest $500 million to complete the construction of high-end hotels and other facilities in Salalah and Jebel Sifah, said a report.
“We need another $500 million to build the remaining hotels and recreational facilities in both destinations in the next six to eight years,” Samih Sawiris, chairman of Muriya and of Orascom Development Holding, told Times of Oman in an interview.
Orascom Development, a leading Egypt-based property developer, has 70 per cent stake in Muriya Tourism Development, while the remaining 30 per cent is held by state-owned Oman Tourism Development Company (Omran).
Sawiris, who was in Salalah to mark the official opening of the first phase of its integrated tourism complex, revealed that Muriya plans to build three more hotels in the region to make it a critically-sized destination to be able to bring more and more air traffic, according to Tradearabia news report.
“We have three hotels with 700 rooms in Salalah,” he said.
Earlier this month, Muriya opened its third hotel, the four-star 218-room Fanar Hotel and Residences in Salalah.Back to all Construction News
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