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Oman’s Ministry of Heritage and Tourism is targeting 700 million Omani riyals ($1.8 billion) of investments in new projects by 2025, state-owned Omani News Agency said in an Arabic language report.
The Ministry has already approved 363 projects worth OMR 2.29 billion ($6 billion) across the Sultanate for the period 2021 to 2025, the report said, quoting Minister of Heritage and Tourism Salem bin Mohammed Al Mahrouqi.
He said the heritage and tourism industry is one of the enabling sectors for achieving economic diversification and driving direct investments in the country.
The report noted that integrated tourism complexes represent the largest volume of investments at OMR 3.9 billion ($10 billion) in 12 complexes that include The Wave, Barr Al Jissah Resort, Salalah Beach Resort, Yiti Integrated Tourism Development, Jabal Sifah and Blue City.
Another package of integrated tourism complexes is being prepared for Muscat, Musandam and Ash Sharqiyah South governorates, with an estimated total investment value of OMR 2.5 billion ($6.5 billion).
He said at least 127 new hotels are under development at an investment cost of more than OMR 340 million ($883 million), including 14 three-to-five-star projects with an investment value of OMR 238 million ($618 million).
The minister said that as many as 124 hotels were developed in 2021 and 2022 AD at an investment cost of OMR 139 million ($361 million).
(Writing by P Deol; Editing by Anoop Menon)
