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Eagle Hills Muscat, a joint venture between Abu Dhabi developer Eagle Hills and Oman-based Izz International, has announced that its premium project - The Residences at Mandarin Oriental - has been approved as an integrated tourism complex (ITC).
Oman’s first luxury branded residences - The Residences at Mandarin Oriental - comprise 156 exclusive homes at Mandarin Oriental with a mix of three-bedroom luxury apartments and four-bedroom penthouses.
Strategically located in Shati Al Qurum area, the Mandarin Oriental hotel will open by the end of this year.
The development introduces a new concept of luxury living to the sultanate, providing the first branded offering in the heart of Muscat.
Eagle Hills Muscat said the residents will benefit from outstanding facilities including 24-hour concierge, a private drop-off area, valet parking, an exclusive residents-only lounge, an expansive beachfront and a waterfront sanctuary boasting multiple retail and food and beverage outlet.
The project is aligned with Oman’s 2040 Tourism Strategy of attracting 11.6 million visitors and raising the tourism sector’s GDP contribution to over 6% by 2040, it stated.
According to experts, the ITCs are opening up Oman’s real estate sector, as they allow foreign investors to own freehold property and get a residence visa based on this ownership.
These complexes are gaining popularity due to their luxurious facilities, better security and prime locations. As an ITC, The Residences at Mandarin Oriental will welcome international buyers and expatriates, offering them inspired community living in the heart of Muscat, they added.-TradeArabia News Service