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Deal Date: 22-10-2014 Practice Area: Real Estate
Deal Title: Omagine Integrated Tourism Complex Project, Oman Industry: Travel & Leisure
Stephenson Harwood LLP advised on the Omagine project in Oman, cost approximately 2.5 billion US dollars to develop and was agreed with the Ministry of Tourism for the government of Oman and Omagine LLC. The project team from Stephenson Harwood's Dubai office advised Omagine LLC, which will design, build, own and operate the mixed use integrated tourism complex under a special royal decree which allows non-Omani citizens to buy and own real estate in Oman which is connected to a tourism development. The development agreement was signed on October 2, 2014. The development will be located on a one million square metre plot of beachfront land on the outskirts of Muscat, the capital of Oman, and nearby to Muscat International Airport and will include residential, commercial, retail and tourism components as well as substantial land reclamation works. Lead partner: Sean Angle.
Financial Center: Dubai Value: 1000.01-5000.00
Advised Party: Developer Law Firm
Development Jurisdiction Oman Developer Jurisdiction Austria,Oman
Classification: Real Estate Development Mixed-Use
Lawyer Sean Angle