JEDDAH, 19 September 2007 — A multibillion metropolitan residential development project will soon rise in Oman, its developer Al-Sawadi Investment and Tourism (ASIT) said yesterday.
In a statement, it said the project dubbed “Blue City” covers 32 square kilometers with an estimated investment of $15-$20 billion and as planned, will create an entirely new city of more than 250,000 people.
ASIT said the project “is the most significant metropolitan development in Oman, supported by integrated tourism legislation on freehold property ownership that recognizes inheritance laws from the purchasers’ country of origin and Oman’s drive to attract foreign direct investment to develop its tourism potential and economic growth.”
In announcing the master plan of the project, Anees Issa Al-Zadjali, chairman of ASIT, said the “Blue City is being designed as a fully integrated live-in community and has a wider role as an important part of Oman’s aims to be the pre-eminent tourism destination in the Middle East.”
Construction on site has already begun and vertical construction is scheduled to commence in December 2007. He said the initial artists’ impressions of the first phase will be revealed in October and the first tranche of retail sales will start in November.
AECO, a partnership between AKTOR of Greece and ENKA of Turkey, has been appointed as contractors for the first phase of The Blue City which covers an area totaling 5.5 square kilometers (2.12 square miles) or 17.2 percent of the project.
“The Blue City is one of the most important developments in Oman. It is much more than just a real estate development. We are creating a city which will take Oman into the next century, providing not just homes, but new jobs, new industries and a legacy for the future,” Al-Zadjali added.
The project envisioned “a modern essence of Arabia built on our strong Omani heritage and history, but does not compromise modernity and quality,” he pointed out, saying that “together, these factors will distinguish the Blue City project and provide a unique set of highly appealing characteristics.”
Chris Steel for Hamptons remarked:” We are expecting tremendous demand for the Blue City residential properties, from within the region and further afield, particularly the UK where interest levels are extremely strong.”
Visuals and details of the master-plan for the first phase of the city will be unveiled in the coming weeks and will show the unique architectural style and approach to urban planning which will characterise the Blue City project and set it apart from other Middle East property developments.
“Extensive research has been undertaken to find organizations and entities that share the vision of The Blue City in creating a harmonious community on one of the most beautiful natural coastlines in the region.
The Blue City’s first phase is one of the most vital components of the entire project due to its value and the unique key tourism related elements it encompasses. It will accommodate 25,000 residents and local, regional and international visitors and is primarily a residential and tourism development with leisure and retail components.
“The first phase represents a substantial standalone project in its own right but it is also intended to fit as a component of the overall development,” added Al Zadjali.
The Blue City project is located on a natural peninsula shoreline 30 minutes from Muscat Seeb Airport, adjacent to the Gulf of Oman.
