SUBSIDIARY NAME
Jewel Of Muscat
COUNTRY
MUSCAT GOVERNORATE IN SULTANATE OF OMAN AND ITS STATES
SECTOR/ INDUSTRY
REAL ESTATE
OWNERSHIP %
70% IIB-DG
ACQUISITION DATE
August 3, 2022
ACQUISITION VALUATION
1.3524 BILLION
TOTAL ASSET VALUATION
13.524 BILLION
REAL ESTATE
Jewel of Muscat acquired on August 3, 2022 for Starting Land Purchase and implement the entire project.
The project is the establishment of a tourism, culture, entertainment and sports compound in province of Muscat – Sultanate of Oman. The project provides all tourism and entertainment services in an advanced manner. The project aims at activating the tourism sector in Muscat Governorate and Sultanate of Oman and providing integrated tourism services. The project consists of an integrated group of sectors that serve tourists to enjoy distinguished services. These sectors are (mall, hospital, hotel, cultural center, service center, sports club, restaurant, multi-story garage, chalets and covered courtyards. The project of the tourism, culture, entertainment and sports is a new tourist destination in Muscat Governorate. The project is also characterized by its location in Muscat Governorate, which is one of the most important tourism governorates in the Sultanate of Oman where many tourists and visitors come to it annually for holidays. Muscat Province is one of the most important tourist destinations in the Sultanate of Oman. It hosts many tourist places, including historical monuments.
- Oman on the World Tourism Map.
- Stability: Stable political system.
- Economy: Sound economic policies appear in controlling public debt, inflation and exchange rate.
- Assisting laws: series of laws, regulations and legislations that support investment and subject to continuous reviewing and development.
- Infrastructure: Advanced tourist infrastructure that are under continuous development pursuant to international standards and measures.
- Taxes: Low taxes on profits and flexible tax system that allows exempts on foreign investment profits for 5 renewable years.
- Profits: There are no constrains on foreign capital retransferring and profits.
- The Sultanate of Oman has many investment viabilities.
- Tourist Attractions: There are many various tourist attractions that qualify Oman to occupy a high rank on the World Tourism Map.