The new districts will be developed in a partnership contract formula with real estate developers
To provide more housing for citizens and encourage the real estate sector, the Ministry of Housing and Urban Development has proposed five sites for personal investment in five governorates. The main points were announced Thursday through officials at a workshop on real estate projects in Muscat.
The initiative aims to provide housing for the developing population and inspire the personal sector to invest in governorates to contribute to the progress of incorporated and sustainable urban communities.
A ministry official said: “Five new sites for asset developers have been opened in Musandam, Dhofar, South Al Sharqiyah, North Al Batinah and South Al Batinah with a total domain of more than 1. 8 million square meters and the acquisition will take position on September 25 at the ministry’s premises. The new districts will be developed in a partnership contract formula with property developers.
Sorouh’s built-in assignments feature all the mandatory and fashionable for residential domains. The Al Naseem community is the first allocation implemented through Sorouh. It has 1,000 housing complexes adding 320 apartments, 120 villas and 475 double villas, in a domain of 350,000 m².
The real estate developer is guilty of the infrastructure and the interior of the barriers of the project. The houses will be handed over to the citizens of Al Naseem in May 2023.
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