Friday, April 01, 2005

Build, build, build!

Someone told me about this a couple days ago but I don't recall seeing it in any of the Omani papers. Regardless whether all these resorts workout or not, looks like the construction business is about to boom big time 2005 to 2007
Orascom Projects and Touristic Development was granted the approval from the Sultanate of Oman to build three resorts on 22 million square kilometers, al-Alam al-Youm reported Monday.

The resorts, due to be built in Muscat, Salalah and Soda Island, would resemble Egypt's Al-Gouna resort on the Red Sea, which was built by Orascom Projects and Touristic Development.

A $50 million joint company was set up in which Orascom Projects and Touristic Development owns 70% stake while the Omani government owns the remaining 30% stake.

Investments in the first phase of the project would reach more than $100 million. The construction of the project is due to start in three months.

Source: Zawya.com
By the way, what or where is Soda Island?

Update:

Apparently the mysterious Soda Island is none other than Sawadi Island. It's still a bit of a mystery though, because Sawadi Island is nowhere big enough to hold a resort.

Further reading from the Oxford Business Group's weekly briefings: Building Big Time

5 comments:

M-Pac said...

Soda Island? Hmmm

could be an April Fools's Joke

Sowhat said...

hmmm never heard of it .. but why that happen amean did they just discover oman in the map ???!??

or something change in the law ??

Chulupu said...

I work for PDO, and trust me when I tell you the Government is on full alert, the Oil is going down and unless we find otehr means of income we are in serious trouble. Hence the sudden interest in toursim.

Najah said...

and why everytime there are the same kind of news but i just don't hear the news of oh yeah it is ready, or is it just because am not in there!

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