Oman’s premier $3 billion integrated residential and tourism project was recently showcased for the first time to Kuwaiti investors and members of the press at the Marina Hotel following its milestone handover of 500 homes.
Armed with a mandate to create a world-class destination while promoting the Sultanate’s vast tourism potential, The Wave, Muscat is keen to strengthen the relationship between the two countries by offering unparalleled quality investment opportunities and lifestyle options in the heart of the capital city of Muscat.
In 2010 alone, the project celebrated over $90 million in off-plan sales and with the marina and golf course opening later this year, plans are already under way to commence construction on a new five-star Kempinski Hotel on the beachfront. The Wave, Muscat has built an undisputed reputation as Oman’s leading property development and is the first available to foreign investors.
The event was held in conjunction with the Kuwait branch of BankMuscat, Oman’s largest bank and Shaker al Othman, Chairman of Shaker Al Othman Establishment, in Kuwait.
The Wave, Muscat is the first 100 per cent freehold development in Oman and is a unique public-private venture. A world-class mixed-use community spread along 6 km of natural beach, The Wave, Muscat will comprise Oman’s first 18-hole green links golf course, designed by Greg Norman; a 400-berth marina; modern and spacious apartments and townhouses; water, beach and garden-view villas; and 5-star luxury hotels.
The Wave, Muscat, is being developed through a joint venture between Oman’s Waterfront Investments (representing the Government of the Sultanate of Oman), National Investment Funds Company (representing Omani Pension Funds), and the UAE-based Majid Al Futtaim Group.