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$27bln worth of hotel projects in GCC pipeline, says report
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$27bn worth of hotel projects in GCC pipeline, says report
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AHIC reveals value of Middle East hospitality pipeline ahead of annual event
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AHIC Hotel Investment Forecast reveals US $27bn worth of hotel investments in the GCC pipeline
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Oman’s Ministry of Heritage and Tourism have signed an agreement with Qurm Stone Development for developing a tourism project in Muscat at an investment of OMR 60 million (USD 155 million). To be set up over a 500,000-sq-m area in Muscat governorate, the Yenkit Hills tourism project is being implemented in three phases.
The Phase One will see the development of a 5-star resort with 90 rooms and suites complete with all facilities. The Phase Two involves construction of 122 upscale residential/tourist units as well as a panoramic commercial complex to serve the area and the project. The final phase will see the construction of a 5-star hotel with 150 room and suites in addition to 50 5-star hotel apartments complete with facilities.