OMAN LAUCHES $15bn BLUE CITY PROJECT
The Omani government in partnership with private investors unveiled the $15 billion Madina Al Zarqa (Blue City) – its most ambitious project yet – early last month.
Sprawling over 35 sq km, this project, which is gearing up for a kick-start by the end of this year, will offer numerous investment opportunities not only to Omani nationals but also expatriates.
Designed to open up tourism and economic avenues in the region, the unique project is set in one of the most interesting of landscapes in the Arabian peninsula.
Blue City features tourist resorts as well as extensive education, healthcare and sports facilities, which will be constructed in multiple phases, making it a tourism and business destination of national, regional and international relevance. “These are aspects that work hand-in-hand with tourism but go beyond it,” Heiko Achilles, CEO, ReeMoon Real Estate Development – owner representative and development manager for Blue City, told Gulf Construction.