Muriya Tourism Development Company was established in Oman in March 2006, as a joint venture between Egypt’s Orascom Hotels & Development (70%) and Omran (30%), representing the Ministry of Tourism, Government of Oman. Muriya’s vision is to develop and invest in tourism and all related activities and facilities. The aim is to create tourism destinations which have the branding and flavour of the diversified nature and culture of the Sultanate of Oman.

Muriya Tourism Development Company currently has four major projects on hand in Oman: Salalah Beach, Jebel Sifah, A City Complex in Muscat and Al Sodah Island. The destinations selected for development are based on Muriya’s deep rooted commitment to develop unrivalled luxury with top notch value while remaining committed to preserving the environment and natural beauty of Oman.

Oman Vistas spoke to Muriya CEO - Cyril Piaia to get the latest status report on these prestigious projects.

What is the current status of Muriya projects?

We currently have four projects in the Sultanate of Oman. The first project is Jebel Sifah that is 45 minutes drive from Muscat. It spans six million square metres with an Integrated tourism complex. It has 4  five star hotels, a golf course, a marina with marina town, a mosque and many other modern amenities and conveniences. It is like a well equipped township. Jebel Sifah is very upscale and will be a very luxurious destination, with hotels like Four Seasons, Banyan Tree, Viceroy, etc. 

The second project Salalah Beach spans 15 million square meters. It is a project with a 11 km beach front and boasts of  five 5  star hotels,  a Golf course, two Marina’s and many housing complexes. It is 14 km from the main town between Salalah and Taqah and 6 km from the His Majesty the Sultan’s palace.

For these two projects we have sold units in November 2007 and we have started building the Villas and the Marina in July 2007. We will also be building the foundation of the Rotana hotel in Salalah in a few weeks time. We have also signed up two more hotels and two are already in the pipeline here.

The third project we have is on Sudah Isalnd which is in the mobilization stage. We are mobilizing on site to start the construction. The designs of the hotel has already been completed here.

The fourth project is in Muscat where we will have a city complex near Seeb airport. It is currently at is very nascent stage where we are still finalizing the design. This project will create a downtown for Muscat with its hotels, villas, restaurant, shops etc.

When will the first lot of allotments be made?

In two years we will hand over the first villa at Jebel Sifah and Salalah Beach  at the same time. These two projects are running simultaneously towards completion.

How would you differentiate your Muriya Projects from others in the Oman market?

As we are only developers in Oman to have four projects. We will be having cross membership scheme between all the projects, which means, you can not only get services from the project where have brought property but also from other Muriya projects which is a big marketing tool for us. For instance, if you have a property in Jebel Sifah you could get free stays at the hotels in other projects, which is one of our strong product differentiations.

We are focused on conservation of environment and space, we do not want our complexes to be packed. We want to give space to our residents so that they can enjoy the beauty of nature.  And, we are very much focused on this and it our motto that ‘we build 25% of the land and 75% is reserved for nature’   

Are people buying properties from an investment point or actually planning to stay?

We have two different types of customers, first of all 85% of our customers are Omani citizens. Then in this 85% people we have people who want to live in these projects and some who pick the property up as a sound investment. However, we have lot of people who want to stay in these development projects as the projects are very close to the city, and even then it will be away from hustle bustle of the city. Our philosophy is to create long term relations with our clients.  In our Alguna project in Egypt we have developed a town with 12000 people, and people living there are well equipped as all the amenities are centrally located and the environment that is provided .

In our next stage we will be targeting customers from all over GCC as the beauty and nature that Oman has to offer is unrivalled.

How favorable are the government policies as far as real estate market is concerned in Oman?

We our working hand in hand with the government towards the development of these projects, Basically, we are trying to promote tourism in Oman. We are doing something towards development of the country and this is in line with His Majesty’s Vision 2020, i.e. diversification of the economy. In the future tourism will be a major revenue generator for the Omani economy and our projects will enhance the same.

How is the Integrated Tourism Real Estate market in Oman, compared to Dubai or other parts in the Gulf?

It is still in its nascent stage compared to other GCC countries. The parameters and trends are not the same as Dubai. We do not build high rise buildings. Our structures are very much in line with Omani architecture and the rules and regulation of the country. Our prices are also much more reasonable compared to other GCC countries and is a sound investment for people who want to invest in Oman. Currently the market is thirsty, people want to buy real estate and secure an investment. With regards to tourism we are heading in the right direction as our aim is just not build real estate but to also conserve nature, build golf courses, parks, hotels, etc which will help to boost tourism.

How do you plan to protect the environment?

We have done the environmental analysis on all our projects, and are working with the government towards protecting the environment, we are taking technical consultation to conserve the environment. For instance, we are excavating the Marina inside the land, so by doing that we are not disturbing the marine life and also protecting the environment. We are also taking steps to use renewable energy by developing wind  energy and solar energy. We are also working in collaboration with the  Ministry of environment to develop moving buoys in the Marina so that the boats can be anchored without destroying the corals.   

By how much  has the price of these properties  appreciated since it started?

Since we have started the price of our properties have gone up by 25%.

Will the global  meltdown have any affect on the real estate market in Oman?
Now people have understood that they cannot invest all their money in the stock market, so people will now diversify their investments, and real estate market is a sound investment as your property will always be there and prices in the future will only appreciate. Moreover,  Oman is a safe country we have the natural beauty and a rich heritage, so I am sure people would like to invest in the Oman real estate market as it one of the emerging tourist destination in the world.