Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

We develop towns not compounds, our approach is different from other ITCs  Join our daily free Newsletter

MENAFN - Muscat Daily - 05/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Established in Oman in 2006 as a joint venture between Egypt's Orascom Hotels & Development (with a 70 per cent stake) and Omran (with the remaining 30 per cent), Muriya pioneers new tourism developments in the sultanate, including its ambitious Jebel Sifah and Salalah Beach projects. 


In an interview with Muscat Daily, CEO Hamza Selim spoke about the Jebel Sifah and Salalah Beach destinations, the progress on them, future developments and marketing and sales.


What are your major priorities for the Jebel Sifah and Salalah Beach projects this year?


We have a new set of priorities for this year. Our top priority for the next six months remains to speed up and finish the work that was delayed during the past two years.


For Jebel Sifah, we want to clear the backlog and ensure the handing over of a vast majority of the units (apartments and villas) by end of June this year. We are also targeting completing six holes of the 18-hole PGA golf course and infrastructure at Jebel Sifah.


For Salalah Beach, we just celebrated the opening of the 400-room Salalah Rotana Resort.


What are the main features of Muriya's projects that have set them apart from other destinations in the region?


Our projects are different from the ITCs by nature and they include elements of real estate, hotels, golf and marinas. These are the four elements in all our projects within and outside Oman. These projects are not resorts, but resort-type towns where life is as it should be. What makes them unique is how we operate these towns. We develop privately managed towns and that is the major difference in what we offer to the people from other ITCs.


How many units have been handed over to clients so far at Jebel Sifah and Salalah Beach?


We have handed over six villas and 76 apartments at Jebel Sifah and 11 villas and 68 apartments at Salalah Beach. In all, we have handed over a total of 161 units at both destinations.


How has the buyer/investor interest been in both tourism destinations?


Earlier, there was a period when buyers (the end-users and investors) were showing less interest in our products at both Jebel Sifah and Salalah Beach. This was mainly due to the fact that we were not continuing the projects as per the initial plan.


However, since both projects are now progressing well and we are refreshing the look of these projects, clients and investors have started to show confidence again. We are seeing good momentum in new sales from investors as well as end-users. I would say the results are good, but not remarkable. We are assuming that the second half of the year we will begin witnessing remarkable results in new sales.


What is your marketing strategy to lure investors?


The marketing strategy for hotels and tourism destinations is different from general real-estate marketing. We first conduct extensive research to identify potential markets and buyers. We understand that the client-mix is different for Jebel Sifah and Salalah Beach and that is why we have separate research for both to identify the markets and potential clients. We have signed on to get good quality services from brokerages and are introducing sales agents in the potential markets to bring in investors to visit these destinations. We have a very strong team behind our initiatives.


We do not consider any other ITC project as our competitor as our products are completely different from their products. We are developing towns not compounds, our approach is totally different from other ITCs.


The first phase of development has been completed by Muriya. What is the progress on the second phase at both projects?


The first phase has already ended and we begun the second phase in the beginning of this year.


At Salalah Beach, two five-star hotels will be developed in the second phase, as also an 18-hole golf course with surrounding real estate. We have already commenced the ground work for the first hotel. We will soon start on the real estate around the golf course. The golf course will be ready within two-and-a-half years from now. I can say, within the next three years from now, we will have completed the second phase at Salalah Beach.


At Jebel Sifah, we will start work on two more hotels in phase two. In the next three years, we will complete two more hotels, the golf course and the real estate around it at Jebel Sifah. Our projects are developing towns and we do not stop the development process.


Has there been any impact on Muriya's operations owing to the Arab Spring and the global financial crisis?


As far as the Arab Spring is concerned, I do not see any impact on the Muriya projects. However, there was some effect felt due to the global financial crisis.


What is your view on Oman's tourism sector outlook?


I have a very positive outlook on Oman's tourism sector. It takes years of hard work to develop the tourism sector and Oman is moving in the right direction. There has been a big improvement in the tourism sector in the past ten years in Oman. We are very positive on how tourism is going to be developed in the next five to ten years. As we see lots of developments in Salalah, the place will see a major change over the next ten years. Salalah Beach is going to be a major addition to Salalah in terms of tourism.


Recently, Orascom's chairman made an announcement on acquiring stakes in two leading German tour operators. How do you think this move will help Muriya?


The acquisition will target a new market to promote the Jebel Sifah and Salalah Beach resorts. The directions have already been given to the charters. The German charters are a major contributor to tourism in Salalah. This acquisition will multiply the number of tourists as much as possible.



 


Muscat Daily




  MENA News Headlines
 Sep 23 2014 - Real Estate Transactions Worth over QR660 Million Last WeekQatar News Agency
(MENAFN - QNA) Real estate transactions between September 14 and 18 for the real estate sales contracts registered at the Ministry of justice are worth QR660,849,178, the real estate registration ...

 Sep 23 2014 - White House Intruder Raises Questions of Failures of US Secret ServiceQatar News Agency
(MENAFN - QNA) Questions are being raised in the US Congress and in the public about the failures of the US Secret Service to stop a man carrying a concealed knife from climbing over a fence and ...

 Sep 23 2014 - Saudi Arabia Seeks UN Resolution to End Israeli OccupationQatar News Agency
(MENAFN - QNA) The Kingdom of Saudi Arabia vowed today that it's time to seek a UN Security Council resolution to set a timetable to end the Israeli occupation of Palestinian territories and achieve ...

 Sep 23 2014 - Qatar to Host 13th UN Congress on Crime Prevention and Criminal JusticeQatar News Agency
(MENAFN - QNA) The government of the State of Qatar and the United Nations Office on Drugs and Crime (UNODC) signed here Monday an agreement for hosting the 13th UN Congress on Crime Prevention and ...

 Sep 23 2014 - Vice Chairman of Hungarian Investment Promotion Agency Meets Qatari AmbassadorQatar News Agency
(MENAFN - QNA) Vice Chairman of Hungarian Investment Promotion Agency Bettina Hruby met with HE Qatar's Ambassador to Hungary Abdullah Hussein Al Jaber. During the meeting, they reviewed bilateral ...

 Sep 23 2014 - French Premier Says 'No Negotiation' With AbductorsQatar News Agency
(MENAFN - QNA) French Prime Minister Manuel Valls Tuesday said there would be "no discussion, no negotiation" with an Algerian group that has abducted a French citizen. The Prime Minister told ...

 Sep 23 2014 - Turkey to expand trade with SharjahMENAFN
(MENAFN) A delegation of Independent Industrialists and Businessmen Association (MUSIAD) from Turkey held a meeting with the director of Hamiryah Free Zone Authority (HFZA) and Sharjah Airport Free ...

 Sep 23 2014 - Lebanese Soldier Killed in Gunfire Attack in TripoliQatar News Agency
(MENAFN - QNA) A Lebanese soldier was killed and two other soldiers wounded on Tuesday morning when an unidentified car opened fire on the Lebanese Army's barracks in al-Beddawi near the northern ...

 Sep 23 2014 - Saudi flag unfurled on world's tallest flagpoleArab News
(MENAFN - Arab News) Jeddah municipality will today hoist a giant Saudi flag onto the world's tallest flagpole to mark the country's 84th National Day.The pole is 170 meters high while the flag is ...

 Sep 23 2014 - Killing of Saudi hostage taker under probeArab News
(MENAFN - Arab News) The Saudi Embassy in Kuwait City said Monday that it was following up the killing of a Saudi citizen who had taken his family hostage at gun point in an exchange of fire with ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help