An agreement to develop an integrated tourism complex (ITC) in Oman’s Special Economic Zone in Duqm (SEZD) has been signed by the Duqm Special Economic Zone Authority (SEZAD) and Little India.
The ITC project will include a five-star hotel, a yacht marina, commercial spaces, and resorts, as well as an integrated residential complex comprising beachfront villas and apartments.
With an estimated investment cost of $748m (OMR288m), the project will be developed by Little India in stages, according to Oman News Agency (ONA).
SEZAD has reportedly allocated 60ha for the project.
Commenting on the project, Ismail bin Ahmed al-Balushi, Deputy CEO of SEZAD, said: "The signing of the usufruct agreement for the new project is part of SEZAD’s efforts to attract quality projects and investments that provide a good addition to SEZD and contribute to enhancing economic diversification therein."
Little India has also signed a deal with US Marriott Group, who will be managing the five-star hotel, in addition to a real estate memorandum of understanding (MoU) with Sanjay Puri Master Company and a financing agreement with Methaq Islamic Banking.