(MENAFN) Qatari developer Diar said it is set to access the Omani tourism sector with three developments, Arabian Business reported.
The development arm of Qatar Investment Authority has inked a memorandum of understanding (MoU) with Oman's Ministry of Tourism to develop three mixed-use developments in the sultanate.
The developments include the Ras Al Hadd project in the Sur district, which will comprise five-star hotel and spa, residential villas, apartments, souks, a marina and villa plots, Diar said in a statement.
The second project will include a five-star luxury resort hotel and spa as well as residential villas and apartments, while the third project will consist of a yacht club and marina, a sports academy, and three boutique hotels, Diar added.
The deal also establishes a partnership of 70/30 between Qatari Diar and Omani Ministry of Tourism on the three projects, the developer said.
Diar has a USD39 billion portfolio that includes 49 projects worldwide. The developer last year bought the athletes' village in London's Olympic park for USD906 million along with UK developer Delancey Estates.