Oman: Salim bin Mohammed Al Mahrouqi targets investment of 3 billion riyals in tourism sector by 2025
Oman: Salim bin Mohammed Al Mahrouqi targets investment of 3 billion riyals in tourism sector by 2025 (image credits Facebook)

Oman’s Minister of Heritage and Tourism, Salim bin Mohammed Al Mahrouqi, has announced that 363 tourism and heritage projects have been agreed upon with an investment value of 2.29 billion Omani riyals. The Ministry aims to attract further investment worth 700 million Omani riyals by 2025 to reach 3 billion Omani riyals.

According to the updates, Minister Salim bin Mohammed Al Mahrouqi has cited that currently, there is the implementation of 12 integrated tourist complexes with a current investment of 1,07 billion Omani Riyals. In addition, he added that shortly, Ministry also aims to increase the number to “More than 24 projects to develop local tourism, and 28 projects to employ heritage sites and historical tourist sites.”

Furthermore, he outlined that implementing 124 hotel facilities during the two years 2021 – 2022 with an investment cost of 139 million riyals was planned and achieved. Ministry further revealed the investment position of the tourism and heritage projects that have been agreed upon – with different segments of investors – during the period from 2021 to 2025 AD in the sectors, with 363 projects being invested in all the governorates of the Sultanate of Oman.

It was also confirmed that the project was worth the value of 2.290 billion Oman riyals. In contrast, the Ministry is targeting investments to reach 3 billion riyals during the mentioned period by attracting additional investments of 700 million riyals by 2025 AD as indicators of the possibility of early exceeding the target figure.

The initiatives come amid the Ministry’s efforts to boost tourism investment in all sectors, keep up with the growth of the tourism movement in the country, and indicators that reflect the attractiveness of tourism and heritage sectors to invest and take advantage of the tourist resorts it bounties, said reports.

Minister of Heritage and Tourism – Salim bin Mohammed Al Mahrouqi said the Ministry’s efforts in bringing in investment are coming from the outset of the development role of the tourism sector in accordance with the focus and goals of the Oman Vision 2040 and the Comprehensive Development Plan.

He stated that the development plan of the Ministry also combines the economic aspect of making the sector one of the sectors capable of diversification. The economist, on the one hand, directs investments to maximize the benefit of the positions enjoyed by the Sultanate of Oman while highlighting and preserving heritage on the other hand.

He further emphasized that bringing investment in the tourism sector takes into account the maximizing the utilization of tourist and heritage sites on near and far religions while prioritizing the projects that the tourism market currently needs, which work to diversify the tourism product and attract different categories of visitors.

“The investment in the tourism sector also empowers the sector to play its role in growing the economy of the provinces through projects that are in line with the relative features of each province as well as benefiting these projects to local communities and small and medium-sized enterprises in the provinces,” said the minister of tourism and heritage.

Integrated Tourist Complexes

Furthermore, the minister pointed out that integrated tourist complexes represent the most significant burden on the volume of investment in the sector. He explains that 12 integrated tourist comps are currently being implemented with a total investment value of 3.9 billion Omani riyals, of which 1.07 billion Omani ryals are investment value from 2021-2025 AD.

He added that these compounds are distributed between phases Under implementation in both: The Wave Project, Bar Jassa Resort (development of the port district), Mandarin Oriental and Residence Project, Al-Diyar Ras Al-Had Resort, Huana Salala (Salala Beach Resort), Yeti Integrated Tourism Project (Yeti Sustainable City), Mount Saifa, Zarqa City (Phase One A, B), Al-Sharq Project, and Palm Resort.

“Preparations are also underway for another package of integrated tourist groups distributed between Muscat Governorates, Musandam Governorates, and South Eastern Governorates, whose total investment value is estimated at 2.5 billion Omani Riyals,” he asserted.

Minister of Tourism also confirmed that the Ministry is paying special attention to the diversification of the tourism and entertainment components in these clubs, as well as promoting their usefulness to the communities and local content (local value added) by finding attractive opportunities for SMEs and providing many and diverse employment opportunities.

Projects of quality and multipurpose

It was revealed that some of the multifunctional tourism projects with a total investment value of 262 million Omani Riyal, such as the Omani Botanical Garden Project, Village Project, and Salala Criminals Project (Nargil Farm).

A number of projects in the Helanyat and Damaniyat islands and polarizing prestigious hotel signs, such as the Four Seasons Hotel project, are currently underway; its investment cost for the period 2021 to 2025 is estimated to be around 137 million Oman Riels.

Hotel Facilities

As for investment in hotel facilities, the Minister of Heritage and Tourism clarified that 124 hotel facilities were implemented during the two years 2022 with an investment cost of 139 million Oman riyals, including four hotel projects (with an investment cost of more than 5 million Oman r per facility) under the Avani Hotel Project in the State of Sib.

He mentioned Doset Hotel D2 in the State of the green mountain, intercity Hotel Muscat, and Jumeirah hotel muscat. In addition to 120 projects (with an investment cost of less than 5 million Oman Riyals per facility), it includes a range of hotels, hotel condos, a hospitality hostel, heritage, greenery, etc., with an investment value of 48.075 million Oman Riyals.

Moreover, Minister Salim Bin indicated that 127 new hotel facilities are being implemented with an investment cost of more than 340 million Omani, of which 14 projects (with an investment cost of above 5 million Omani Riyals per facility) with an investment value of 238 million Omani Riyal.

The ratings range between 3- and 5-star hotel apartments and 113 facilities Hotels (with an investment cost of less than 5 million OMR per facility) with an investment cost of 102 million OMR. Fifteen projects are being implemented on government lands and 98 projects on private lands and diversified between resorts and hotels with inter-star to 3-star ratings, luxury camps, tourist camps, green inns, hotel apartments, guest houses, restrooms, etc.

The development of local tourism

He clarified that the number of local tourism development projects being implemented through the Executive Program of the Recovery Plan by the governorates reached 24 projects worth 16.6 million Omani riyals. In comparison, 14 projects are being worked on for the development and investment of heritage sites and historical sites with a current investment of 13.8 million Omani rials.

Meanwhile, a number of Projects to support museums and private heritage houses are eight projects worth 17 thousand Omani riyals and a number of projects to create museum show halls in castles and forts amounted to 6 projects with a cost of 45 thousand Omani Riyal.

It is noteworthy that there are a number of local tourism development projects that are being implemented directly by the provinces within their jurisdiction and through the development program of the areas, referring to the expectation of providing more requirements of service and tourism facilities that meet the needs of domestic tourism in various provinces in the next phase.

Preparations are also underway to invest in 34 historical landmarks with an investment value of 1.884 million Oman Riyal, including several castles and forts in various governorates, which are allocated as investment opportunities for small and medium-sized enterprises.

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