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OR250m total investments of Alargan Towell Co. in Oman

Oman: Monday, May 20 - 2013 @ 16:50

Mr. Khaled Khudair Al-Mashaan, Vice president, Alargan Towell Investment Co., has revealed that given the unique investment attractions of the country, the company is seeking to expand its business in the Sultanate, in addition to identifying new investment opportunities in order to start developing and implementing them.

Mr. Al-Mashaan, explained that the Company offers affordable, quality housing solutions, with prices ranging from OR40.000 to OR200.000. He also pointed out that these constructions projects come to constitute residential neighborhoods and small communities that consist of housing, community amenities and commercial facilities. One of the most important pillars of these projects is that the construction takes place only on 60% of the total plot area, while 40% of the land was allocated to the development of green spaces, internal road networks, and public amenities.

Mr. Al-Mashaan added that Alargan Towell Investment Co. has developed and implemented eight distinguished residential projects in different regions of the Sultanate, including projects under construction, such as ‘Al Mawaleh Villas’, ‘Al Hail Homes’, ‘Al Qurm Gardens’, which were all delivered successfully. The projects also include ‘Beyout AlFaye’ situated in Al Khoudh, of which Phase I was completed and delivered last year, while Phase II is under construction. In addition to ‘Telal Al Qurm’ project in Al Qurm, ‘Al-Waha’ in Barka, ‘Salalah Gardens’ in Salalah which remain under construction.

Mr. Al-Mashaan noted that over the past 10 years and since its establishment in the Sultanate, the Company successfully has been providing premium housing solutions to Oman’s real estate market, by developing affordable quality homes for middle- income families.

He also indicated that Alargan Towell is currently putting the finishing touches on a new Integrated Tourism Project (ITC) in the area located between Barka and Seeb. The project aims to enable the Omani families to own their dream home at affordable prices.

“The company is also implementing the ‘Salalah Gardens’ project with the aim of providing families in Oman an opportunity to own affordable quality homes,” he said.

Mr. Al-Mashaan stated that ‘Al Qurm Gardens’ project ‘the residential project’ represents a fine model of the integrated real estate projects. It consists of 41 town houses, as well as commercial facilities and offices. The project spreads over approximately 9.000 sq.mts. and is connected to the main streets and the nearby road network, in addition to the commercial part of the project, which has won several regional and international awards.

As for the ‘Al-Waha’ project located in Barka region, Mr. Al-Mashaan said that the project represents a new concept of excellence in developing integrated housing projects, in terms of the living standards and the design of the available amenities. Moreover, the project features a strategic location close to several facilities and amenities.

On another hand, the ‘Beyout AlFaye’ project situated in Al Khoudh, features 126 villas of various sizes and designs and a commercial components, where the phase I has been sold out and the project is currently being expanded.

Mr. Al-Mashaan mentioned that ‘Telal Al Qurm’ project is one of the most recent projects developed by Alargan Towell Investment Co. It covers an area of 164.900 sq.mts. and encompasses residential units and state-of-the art commercial facilities and shopping centers. The total project cost is around OR51m, the infrastructure development works has already started on this premium project located in the heart of the city of Muscat. Additionally, the company has allocated 49.920 sq.mts. for the future development of road networks, green spaces, walkways included in the whole project.

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Monday, May 20- 2013 @ 16:50 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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