Ministry of Tourism signs development agreement with the Chairman of Orascom Development Holding AG to develop City Walk in Seeb

Dubai, UAE, November 21, 2016:   His Excellency Ahmed bin Nasser Al Mahrizi, Minister of Tourism, signed an agreement today with Eng. Samih Sawaris, Chairman of Orascom Development Holding AG, Muriya’s largest shareholder, to develop City Walk, a vibrant beachfront commercial city complex. Set to be located in North Al Hail, the development comes as part of the continued collaboration between the Ministry and Muriya to bring long-term value to Oman’s tourism, retail and real estate sectors. 

City Walk is a 47,999 square metre project that will comprise a 355-metre waterfront, a retail area with shops and restaurants, as well as an upscale 5-star hotel. Additionally, the project will feature a commercial area with offices and a dedicated cinema complex. 

His Excellency Ahmed bin Nasser Al Mahrizi, Minister of Tourism, stated “The development joins a long-list of projects launched by the Ministry and its partners to leverage Oman’s position as a year-round tourism destination. Inspired by its 2040 Tourism Strategy, the Ministry is currently spearheading the establishment of world-class infrastructure to spur rapid growth within the sector. Under the Ministry’s approach, each of the new projects is being built in accordance with international best practices, combining Oman’s authentic culture of hospitality and unique natural environment with state-of-the-art facilities.”  

Samih Sawiris, Chairman of Orascom Development Holding AG, said, “I would like to thank the Government of Oman, and especially the Ministry of Tourism, for their dedication to fully harnessing Oman’s potential to be a major tourism, retail and recreation destination. Since 2007, we have invested over USD 600 million as part of our commitment to develop touristic and commercial destinations creating unique lifestyle experiences for families, residents and tourists of all kinds. We believe there is huge investment potential in Oman and, thanks to our strong collaboration with the Ministry, we have seen solid growth and long-term value in all our destinations. City Walk is a new milestone in our investments plan. This new project will have a ripple-effect on direct and indirect job creation, as well as lead to thriving adjacent markets and even greater prosperity for Oman.”  

City Walk, upon completion, is expected to be one of many new tourism-related projects accomplished by the Sultanate as part of its drive to attract recreational and business travelers to have a unique experience while visiting Oman.