Stalled Oman development to restart
Work on the Salam Yiti golf and housing development in Oman is set to resume in the new year.
Newswire service Bloomberg has reported that Omran, the investment arm of Oman’s tourism ministry, is to take a more active role in the development. Previously, the project has been led by UAE-based firm Sama Dubai, now a part of the same group as Dubai Properties and Tatweer – the developer of the Tiger Woods Dubai project – and which has naturally been affected by the crash of the Dubai real estate market.
“Sama Dubai was the development manager and Omran was just an equity partner,” Omran CEO Waed al-Lawati told Bloomberg. “Now that relationship is changing so that Omran can take more of a lead in terms of developing the project.”
Salam Yiti has been stalled for more than two years. The project initially involved over 5,000 homes, a number of hotels and a golf course designed by the Robert Trent Jones II firm. The new plan calls for the hotels and course to move forward, which the number of houses is being scaled back.
Oman is attempting to muscle in on the UAE’s lead in Middle Eastern golf. Muscat Hills, Oman’s first grass golf course, opened last year – the design is by British firm Dave Thomas Limited – and the new Wave course, designed by Greg Norman’s firm, expects to open its first nine holes in 2011.
AML
Other posts by AML
Contact author