(MENAFN) Omran, the state-owned Oman Tourism Development Company is developing a top housing project called Madinat al Irfan in a staggering 7-square-kilometre area.
The project will deliver affordable housing for the people, which is part of a chief initiative to develop real estate projects with an active involvement of private players.
Oman already has a positive experience in telecommunication, power and water, with all these sectors showing great progress after handing it over to private developers.
"There is a big potential in real estate sector, which will keep driving all contractors for another 10 to 20 years if private sector is allowed to build gated complexes," said the Minister of Commerce.
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