real estate

Housing Ministry offers 9 sites for private investment

December 30, 2021

Muscat – To stimulate the real estate sector, the Ministry of Housing and Urban Planning will open nine investment sites for usufruct contracts in the new city of Liwa in North Batinah governorate soon.

The initiative aims to achieve the objectives of population and economic growth, including commercial and industrial real estate units. It also aims to enable the private sector to attract investments in various governorates to contribute to the development of integrated and sustainable urban communities.

According to an official, the Ministry of Housing and Urban Planning will offer land measuring between 1,000sqm and 5,000sqm for usufruct contracts through public auction.

Bidders must be Omani and his/her age at the time of bidding should not be less than 23 years. The bidding company must have at least 30 per cent stake of Omani or GCC nationals, the ministry official informed.

Additionally, bidders must be registered through the electronic system – Real Estate Development Services Centre – using ID number or the commercial register.

New residential city of Liwa

New investment projects will be implemented in the new residential city of Liwa. The city is spread over an area of 8sqkm close to the Al Batinah Expressway. It will accommodate about 30,000 people and provide all services and public utilities, and include 2,500 to 3,000 housing units.

The city will have complete infrastructure, including roads, eight schools of various educational levels, an integrated health centre, and 13 mosques with facilities such as public halls and Holy Quran memorisation school.

muscatdaily

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