Retal Signs $823 Million Oman Housing Project With 2,000 Units

Dubai (PlantAndEquipment.com) - Retal Urban Development Company has inked its first development deal in Oman, for the development of a substantial residential complex in Sultan Haitham City.

A SAR3.1 billion ($823 million) project encompassing 1.3 million square meters across zones 3, 15, and 17 of the master development is covered by the deal, which was inked with Oman's Ministry of Housing and Urban Planning.

More than 2,000 residential units, including villas and apartment buildings, as well as commercial, mixed-use, and community amenities will be built as part of the project.

The plan would also include site development and infrastructure projects to help build an integrated urban community in Muscat.

The project is anticipated to take over nine years to complete and will be sold using an off-plan sales strategy.