3/12/2008 SILVER TROPHY FOR AMLAK   Amlak Real Estate has won the silver trophy award under real estate category in the recently concluded 3rd Oman Web Awards last 8 February 2008 Though new in the market and considering their scale of operation, Amlak has out shone the toughest and longest existing real estate companies in terms of web design and content to drive customer traffic. Among the contenders are Vision Real Estate Investments, Oman Prospects Company, Gulf Property, Al Habib, Allied Business Corporation, Jeeran Estates and Jas Complex. The Wave Muscat website has won the gold. It has been proven that Amlak website is a useful tool to serve clients in and outside the country. It provides customers sufficient and accurate information about the properties which lead them to be interested and see the properties. Property listings are being updated from time to time in order to give clients updated information and latest market values of particular properties in various locations. In doing so, with just one click all important information is being communicated to customers. Amlak always stands up for their commitment to meet customer needs and satisfaction at its best. Dealing with Amlak assures 100% integrity and reliability. They are doing business professionally and resourcefully thus they help clients to get the best quality properties at most reasonable prices in the market. Landlords are also well taken care of by getting the most fitted client in certain type of properties so as not to sacrifice the property value. They see to it that they are effectively bridging the gap between the owners and buyers which leads to a win-win deal. Amlak Portfolio Amlak portfolio has gain a return of 182% in 2007 and is expected a skyrocket up this year. Since Oman real estate market is rapidly booming, shareholders are very much optimistic in tripling, or even more, the income. They are investing only in the hottest plots and in most potential places in Oman. They are not taking risk to invest in destabilized areas where there is a threat of sudden collapse. Amlak shareholders have been very competitive in the market and they assure big return on investment. The minimum share in Amlak portfolio is 5000 RO and Amlak takes 15% of the net profit. 3/26/2007 PROGRESS OF WAVE REVIEWED   Eng. Abdullah Bin Abbas Bin Ahmed, Chairman of Muscat Municipality and Chairman of The Wave, Muscat, recently hosted delegates from government bodies and private utility providers in what has been dubbed a landmark meeting that highlights their successful collaboration on the development. The participants at the meeting included the Deputy Commander of the Royal Oman Police (ROP) for Operations, Commander and Deputy Commander ROP Civil Defence, Commander of the ROP Traffic, Deputy Commander of the Coast Guard, DG Planning of the Ministry of Housing, Electricity and Water, Omantel, Oman Waste Water Management Services Company and the DG of Technical Affairs at Muscat Municipality. “The Wave, Muscat is a distinct project. It is our pride as a nation, designed to reflect the aspiration and culture of the country. But more so, it is a symbol of our spirit as a nation – working successfully to align our expertise in the different government and public sectors with the Sultanate of Oman’s vision for the future,” Abdullah said. “Your effective collaboration on this project has ensured the sustained success of The Wave, Muscat’s regional and international image. The commitment to the time frame, and your ingenuity, I am sure will continue to engineer progress and ensure that expectations are surpassed,” he added. With the unprecedented sales response to the launch of the second phase in December 2006, the facts hold true to Abdullah’s statement. As The Wave recently announced numerous contracts amounting to more than RO100 million, Abdullah also met the contractors. Contracts have been awarded to Carillion Alawi LLC, Al Turki Enterprises, Al Mashrikia-Travo LLC and Bauer Spezialitiefbau GmbH. The meeting highlighted the progress achieved in the construction and Abdullah emphasised the government’s backing to the project. “From the very beginning, the government has focused on the construction progress through the various stages of the development. As we cross another important milestone in creating our landmark destination, we are on course to deliver our core mission to offer unparalleled investment and lifestyle opportunities in the centre of Muscat.” Source : Oman Tribune.com 3/24/2007 INFRASTRUCTURE: GOOD NEWS FOR HGHWAY TRAVELLERS   The Assarain Group is building the first in a series of one-stop facilities for highway travellers BusinessToday reports It is a scenario that highway travellers, both seasoned and occasional, are familiar with. You stop for fuel midway through a long journey, and all that your stop can provide you with is fuel. Adequate public facilities and rest areas are generally conspicuous by their absence, adding to the inconvenience of long journeys for families with children, among other travellers. However, comprehensive rest stops are a common sight abroad and now Oman is on its way to getting such a facility. The Assarain Group of Companies is constructing the first such concept stop in Sohar. In addition to the existing Shell fuel station, the facility will have a food court with six restaurants, a kid zone, Internet facilities, autocare centres, including a car wash, a bookshop, and perhaps even a pharmacy. It is expected that the Sohar project, covering an area of 15,600sqmtrs, will be ready by the end of the year. Khalid al Wahaibi, managing director, Assarain Group of Companies, says the idea took root two years ago. “When we looked at the market, we saw that a convenient one-stop for travellers was missing. As all of us who tra-vel long distances around the country, specially with kids, know that you need such a place. There was nothing of this kind in Oman and we wanted to introduce the concept.” There was also the fact that a lot of new roads were coming up in Oman, as also connections between major cities. Besides, the traffic coming in from and going towards the UAE was increasing everyday. Sohar was chosen as the location for the flagship facility because it lies midway between Muscat and Dubai. Wahaibi pegs the daily number of visitors stopping over at his Sohar project between 1,400-1,600. “That is a considerable number of visitors and this is even before the project is ready.” In addition to fuel that will be provided by a continuing collaboration with Shell, the facility will have autocare services, for which Zubair Automotive and MHD have already signed on. Negotiations are on with prospective tenants for the food court as well as other services on offer. Informs Wahaibi, “Several parties have expressed interest but we are still finalising things.” Interest has also been shown by parties in Dubai. The medium and the location combined are all the more attractive because they will serve regional and international travellers as well as the local population. Meanwhile, once the Sohar project is complete, there are plans to move into other locations. “We plan to franchise this concept around the country. Within the next three years, we will have four to five such projects, depen-ding on the sites, and also on where the new roads are coming up. We are going to revamp the station at Wadi Adai after Sohar, and we are also looking at Sur and Nizwa for the future.” Considerable investment has gone into the project, and Wahaibi expects returns in about six years. Meanwhile, it is only a few months before highway travelling along Sohar will change for the better. Something that hopefully will be the first of the many conveniences to come. Source: Businessn Today 3/13/2007 FAIRMONT JOINS THE WAVE   Fairmont first hotel chain to launch project at The Wave with 300 rooms MUSCAT — The Wave, Muscat, Oman’s leading tourism and beachfront residential development, has announced the appointment of “Fairmont Hotels & Resorts” (Fairmont), a global hospitality leader with 50 hotels across 10 countries, to manage the golf resort hotel. This was announced by officials from The Wave, Muscat and Fairmont at a press conference in the presence of Dr Rajha bint Abdulameer bin Ali, Minister of Tourism, and Abdullah bin Abbas bin Ahmed, Chairman of Muscat Municipality, Chairman of The Wave, at The Wave Sales Centre here yesterday. The announcement marks Fairmont’s foray into Oman. Highlights of the resort, scheduled to open in 2010, include 300 rooms and suites, restaurants, meeting facilities, Willow Stream Spa and branded residential offerings. The resort will be located adjacent to the 18-hole championship links course designed by Greg Norman. The tourism component of The Wave will comprise four hotels, and guests will be able to enjoy the many recreational and retail facilities available throughout the community. Announcing the maiden hotel at The Wave, Abdullah bin Abbas said: “It is a matter of great privilege to announce that Fairmont Hotels & Resorts has signed with The Wave, Muscat, a project which is the pride of Oman. The management expertise of a world-renowned hotel brand such as Fairmont will ensure the highest levels of service.” “The Wave, Muscat epitomises the aspiration and culture of the Sultanate of Oman and we are committed to delivering exceptional residential, retail and leisure offerings. Our partnership with Fairmont is part of our strategy to involve the finest companies in their industries to realise this vision,” he added. John Johnston, Executive Vice-President of Fairmont, said: “We are delighted to be part of this premier development, which offers unrivalled travel and lifestyle opportunities in one of the most prominent integrated developments in the Middle East. Our first property in Oman reinforces our expansion strategy in the region and demonstrates our commitment to working with key partners to develop world-class properties and build upon our brand’s global strength.” “We are celebrating our 100th anniversary of Fairmont Hotels & Resort this year and I am sure when Fairmont Muscat opens in 2010 it will help make The Wave an excellent destination for our clients who are eager to experience the wonders of this country. We are thankful to the great support we received from the Omani government and The Wave Muscat and we are optimistic the hotel will be an excellent addition to this prestigious project. Wael Ahmed al Lawati, Deputy CEO of The Wave, Muscat, said: “We are proud to have Fairmont in The Wave development. Our commitment to providing superior offerings will be realised through partnering with Fairmont. The company has proven hospitality expertise worldwide and we are proud to be associated with them for this prestigious project.” 3/12/2007 'DESTINATION OMAN' NEW EDITION RELEASED   MUSCAT — Tourism Minister Dr Rajiha bint Abdulamir bin Ali formally released the 2007 print edition of DestinationOman last week. Reflective of the growing tourism potential of the Sultanate, the new edition packs in 144 pages of content, and is illustrated with captivating pictures of Oman, mostly taken by celebrated photographer and His Majesty’s adviser for Economic Planning Affairs Mohammed bin Al Zubair. Speaking on the occasion, the minister said: “The tourism potential of the Sultanate has been imaginatively encapsulated through the pages of Destina-tionOman and I can confidently say that anybody who reads the book would be impelled to visit our country and explore its charms at the very first opportunity.” Dr Rajiha added that the government of Oman, and the Ministry of Tourism in particular, is making serious efforts to further enhance the tourism potential of the Sultanate by creating world class infrastructure and amenities, at all tourist destinations. “There are a considerable number of promising tourism areas in the Sultanate and accordingly the Seventh Five-Year Development Plan includes a number of tourism projects that will be implemented by both the government and the private sector. The most important of these projects include resorts and tourist facilities in Yiti, Seifa and The Wave in Muscat, Salalah, Mirbat and Shaa in Dhofar, Ras Al Hadd, Ziqi and Haraf, The Blue City and Shinas and others. “The proposed high-speed ferry service scheduled for launch in late 2007 or early 2008 will cut down travel time between Musandam and Muscat from five hours to just one hour. The service is also expected to usher in a windfall of business opportunities for the country’s interior regions, boost tourism and generate employment”, she said. “The mega real estate and tourism investment projects like Blue City, The Wave, Muscat Golf Club; new star hotels coming up; renovation and addition of rooms and upgrading of facilities of existing hotels; are all efforts being made to accommodate the growing number of tourists visiting our country now”, she added. The book which stem-med from the immense popularity enjoyed by the website founded by Deepak Nair is designed by Interac-Oman and published by Al Roya. Souce: Times of Oman Monday, March 12, 2007 2/28/2007 FORUM SEES UNTAPPED POTENTIAL IN REAL ESTATE,TOURISM SECTORS   MUSCAT — Oman is set to place itself on the global tourism and real estate map. The country’s real estate and tourism sectors are set to be the next big things for investors as these sectors are likely to attract large foreign capital in the years to come, according to a high-profile business forum at Shangri-La’s Barr Al Jissah Resort & Spa here yesterday. Financial Times Limited organised the forum, ‘Oman: Building a new future’, in association with Sama Dubai, and is supported by Oman Chamber of Commerce and Industry. Sama Dubai is the international real estate investment and development arm of Dubai Holding. Sheikh Al Fadel bin Mohammed bin Ahmed Al Harthy, undersecretary for Development Affairs at the Ministry of National Economy; Khalid Hilal Al Maawali, director-general of Investment Services at the Ministry of Tourism; Farhan Faraidooni, executive chairman of Sama Dubai; AbdulRazak Ali Issa, chief executive of BankMuscat; Victor Orth, global director for Sama Dubai’s research intelligence division; Maysa Rashed Ghadeer, member of the UAE Federal National Council; and K. Gopakumar, BankMuscat’s general manager for Wholesale Banking were the speakers at the forum. In his address, Sheikh Al Fadel Al Harthy, undersecretary for Development Affairs at the Ministry of National Economy said: “The Sultanate of Oman is one of the fastest growing economies in the region, and tourism and real estate sectors should create a tremendous opportunity for the nation, I mean the economy to grow further.” Oman is becoming increasingly attractive to investors. On the back of strong global energy prices, the Gulf is growing very fast. Outlook for Oman, indeed, is excellent. The recent free trade agreement with the United States and BankMuscat’s listing on the London Stock Exchange will attract foreign capital and foreign investors to Oman in a big way. As reported earlier, a number of Omani towns are on the threshold of a tourism and real estate boom, positioning themselves as one of the best tourist and business destinations in the region. The outcome of strong economic growth is a booming property market. Oman is also expected to experience significant retail investor growth as the population matures, 60 per cent of which is currently under the age of 18. Oman is rapidly integrating with the global economy and institutions are growing more and more competent. As we know, the process of globalisation is here to stay. And indeed, the pace of development in Oman will only accelerate as the government has been sensibly responding to the challenges of globalisation. The government’s timely measures not only boost the country’s human capital but also enhance the efficiency of its institutions. The economic growth has been realistic since the early 1970s, and corporate profits have soared. The evolving economic and business environment exhibits a number of encouraging signs that suggest further strengthening of the growth demonstrated in recent years. A real estate and tourism boom is set to emerge in Oman as the domestic economy is increasingly considered as an attractive investment destination for regional and foreign investors. The government is already allowing foreign nationals to buy properties in selected areas. Leading banks are offering housing loans to both nationals and expatriates at attractive rates. Plans to build hotels and corporate offices is set to fuel the construction industry, in terms of activity, cement production, fuel demand, employment opportunities, infrastructure, international goodwill. Source: Times of Oman Wednesday, February 28, 2007 2/24/2007 THE WAVE MUSCAT HOSTS CONTRACTORS   MUSCAT — Construction at the Wave is progressing at a steady pace and Abdulla bin Abbas bin Ahmed, Chairman of Board of Directors of The Wave, took the opportunity to deliver some strong words of encouragement to the consortium of contractors and construction companies The Wave has recently commissioned. Last month The Wave Muscat committed to numerous contracts amounting to more than RO100 million with market leaders Carillion Alawi LLC, Al Turki Enterprises, Al Mashrikia-Travo LLC and Bauer Spezialtiefbau GmbH amongst other capable contractors, for housing construction and setting up of requisite infrastructure and related support structures (Source:- Oman News Agency) 2/19/2007 THE WAVE MUSCAT SIGNS MOU WITH HSBC   MUSCAT — The Wave Muscat, the Sultanate’s leading tourism and beachfront residential development, has signed a Memorandum of Understanding (MoU) with HSBC to provide Home Mortgage schemes to property buyers. With this new offering, the premium project continues to provide exclusive opportunities to both Omani nationals and expatriates, ensuring them a unique home-buying experience. Prospective homebuyers can benefit from mortgage finance from HSBC for up to 80 per cent of the value of the property for self-occupying buyers and investors at The Wave Muscat over a maximum period of 25 years. The agreement with HSBC is part of The Wave Muscat’s endeavours to make property ownership more affordable and convenient with maximum flexibility and options. HSBC also announced that Chris and Lauren Hamilton, a British couple residing in Muscat for the last three years, have already signed up for the exclusive mortgage facility. Chris, an engineer working in Muscat, and his wife Lauren, who is a local school teacher, have purchased a three-bedroom villa on the premium residential development, thus becoming the first expatriates in the Sultanate to benefit from this new mortgage scheme. Commenting on the new collaboration, Wael al Lawati, Deputy CEO of The Wave Muscat, said: “We are proud to announce this tie-up with HSBC for mortgage finance. This latest offering is in light of the increasing demand for affordable home financing schemes from our buyers who seek various alternatives to get a foot on the housing ladder. We are very satisfied with our association with HSBC and we are certain that this new offering will prove to be successful, facilitating an easy and smooth buying process for all our customers.” Speaking about the new offering, Richard Groves, the CEO of HSBC Oman, said: “We are very pleased to be associated with this impressive development, which enables us to further extend our growing mortgage business within the country. The Wave Muscat is bound to be attractive for those looking to invest in an Arabian coastal resort with luxury homes being offered to both Omanis and expatriate buyers.” He added: “I also wish to congratulate Chris and Lauren Hamilton for being the first beneficiaries of our mortgage service with The Wave. Our customised mortgage service is designed to cater to the specific needs of customers, by extending affordability and financial convenience. All mortgage customers will also be invited to become select HSBC Premier account holders, which offers a host of other value-added benefits". Oman Daily Observer Monday, February 19, 2007 2/13/2007 CONFORMITY WITH ENVIRONMENT FIRST CHOICE OF REAL ESTATE BUYERS: POLL   MUSCAT — Sama Dubai, a division of the investment and real estate development arm of Dubai Holding, has conducted an opinion poll on tourism products during its participation in the International Real Estate Exhibition, hosted by the Sultanate of Oman at the Omani Centre for International Exhibitions. The findings of the poll showed that the tourism products established in conformity with the surrounding environment and the concept of micro-residential complexes represented the first choice of real estate buyers. Sama Dubai has presented a model of the first tourism project — Salam Resort & Spa-Yiti — developed in the Sultanate under the trademark Salam at a cost of $1 billion. Some 200 tourists, visitors and employees of the real estate companies, of whom 50 per cent were from the AGCC states, have participated in the opinion poll. The results showed that 81 per cent of the participants were interested in the ownership of property within the free ownership projects in the Sultanate, of whom 40 per cent wanted to own real estates for investment purposes, 25 per cent preferred to purchase residential flats and 22 per cent were interested in purchasing villas. More than 17 per cent of the opinion poll respondents stressed the significance of entertainment programmes in tourism resorts, while 13 per cent emphasised the importance of eco-tourism programmes. Some 40 per cent said that the location of the resort from the place of work was a major factor to be considered when purchasing a facility at a tourism resort. Dr Rajiha bint Abdulamir bin Ali, minister of tourism, said that tourism, particularly the real estate sector, had witnessed remarkable development during the last few years. The ministry had developed a number of mega tourism projects which contributed to promoting the Sultanate’s tourism in the international arena, she said. “We are pleased with the initiative of ‘Sama Dubai’ for their new concepts in the field of preservation of environment within the context of pioneering in real estate projects,” the minister added. Farhan Fredouni, chairman of Sama Dubai, said that the poll results confirmed the feasibility of ‘Salam Resort & Spa-Yiti, which develops tourist resorts on the clients’ requirements. The new project would contribute to the enhancement of the Sultanate’s role as a distinct regional and international tourism destination. ‘Salam Resort & Spa-Yiti’ shall be established with the partnership of the Ministry of Tourism over a vast premium area of 3.7sqkm, near Al Qurum, and the project is expected to finish in mid-2009. The project will include exclusive five-star hotels, magnificent villas and exclusive apartments. Accommodation will be surrounded by golf courses, marinas, a state-of-the-art spa and an eco-marina centre. Times News Service Tuesday, February 13, 2007 12:07:00 AM Oman 2/12/2007 BANK OF NEW YORK TO PROVIDE MULTIPLE SERVICES IN OMAN   The Bank of New York, a global leader in securities servicing, has been selected by Blue City Investments 1 Limited to provide multiple corporate trust services for its landmark tourism development project on the northern coast of Oman. The bank will act as trustee, registrar, agent in various on-shore and offshore capacities, cash manager, account bank, lookback calculation agent and Irish paying agent. The issue, which is the largest undertaking of its kind, representing $925 million in securitised notes, will fund the first phase of the construction of Blue City, a residential and tourism development project. Upon completion, it is expected that Blue City will be home to more than 250,000 permanent and visiting residents and will become a tourism and business destination of national, regional, and international relevance, as well as a significant source of job creation in Oman. It is scheduled to be completed in 10 phases with a total expected investment of $15-20 billion; phase 1 construction began last month. The project is a joint effort of Omani and Bahraini private sector investors and developers, acting through Al Sawadi Investment & Tourism Company in cooperation with the Omani government. 2/8/2007 AGREEMENT ON MINISTRY SERVICES PROVISION SIGNED   SUMAIL — An agreement was signed here yesterday at the Housing, Electricity and Water Department in the wilayat of Sumail to provide the Ministry of Housing, Electricity and Water, services in the fields of planning, surveying, real estate land and registration through the postal offices at the Sultanate’s governorates and regions. The agreement was signed by Dr Khamis bin Mubarak Al Alawi, minister of housing, electricity and water; and Sheikh Mohammed bin Abdullah Al Harthy, minister of transport and communications, in the presence of Sheikh Saud bin Sulaiman Al Nabhani, undersecretary for communications at the Ministry of Transport and Communications and board chairman of Oman Post Company and Sheikh Saif bin Mohammed Al Shabibi, undersecretary at the Ministry of Housing, Electricity and Water. As per the agreement, applications from citizens for planning, surveying, real estate registration services, land and water services will be received through 94 postal offices in various governorates and regions of the Sultanate as of March 17. The Housing, Electricity and Water Ministry will provide six forms for services provided by the ministry in the field of town planning, survey, water well permit, supply drinking water complaints. For real estate registration services, citizens may finish formalities pertaining to processing alternative ownership document, on damaged document, property detention redemption, correcting ownership document processing new ownership document. Regarding town planning and surveying, the ministry will render via postal offices services for processing new survey drawing and expansion changing land using and adjustment, land dividing, incorporating more than a plot, compensating affected land, digital/normal map copying services, approving dividing and amending planning conditions project, among other services. The Ministry of Housing, Electricity and Water and the Ministry of Transport and Communications last May signed an agreement to provide residential land application services through the postal offices in various governorates and regions of the Sultanate. The transport and communications minister told the media that as per the agreement, Oman Post Company would receive citizens’ applications with regard to lands through the postal offices. On his turn, Sheikh Saif bin Mohammed Al Shabibi, undersecretary at the Ministry of Housing, Electricity and Water said the agreement came within the context of the ministry’s attention to simplify the citizens transactions through the postal services. ONA Thursday, February 08, 2007 2:37:03 AM Oman Time 2/5/2007 KHASAB PORT EXPANSION   The $43m Khasab port expansion project, located in Oman's Musandam Governorate, has been launched this week. Salim bin Mohammad Al Nuaimi, Undersecretary of the Ministry of Transport and Communications, said he hoped the port's expansion would boost tourism and commerce in the area and promote domestic trade. The project will be carried out in two phases, with the first focusing on marine activities and the second on basic infrastructure.